Empowered Funds LLC Sells 26,122 Shares of Suncor Energy Inc. (NYSE:SU)

Empowered Funds LLC reduced its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 26.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,626 shares of the oil and gas producer’s stock after selling 26,122 shares during the quarter. Empowered Funds LLC’s holdings in Suncor Energy were worth $2,644,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in SU. UniSuper Management Pty Ltd raised its holdings in Suncor Energy by 87.6% in the first quarter. UniSuper Management Pty Ltd now owns 18,200 shares of the oil and gas producer’s stock worth $672,000 after purchasing an additional 8,500 shares in the last quarter. Lake Street Advisors Group LLC acquired a new position in shares of Suncor Energy during the 1st quarter worth approximately $217,000. Shell Asset Management Co. raised its stake in shares of Suncor Energy by 14.1% during the 1st quarter. Shell Asset Management Co. now owns 94,989 shares of the oil and gas producer’s stock worth $3,509,000 after buying an additional 11,740 shares during the period. Freestone Capital Holdings LLC acquired a new position in shares of Suncor Energy during the 1st quarter worth approximately $205,000. Finally, Advisors Asset Management Inc. raised its stake in shares of Suncor Energy by 7.5% during the 1st quarter. Advisors Asset Management Inc. now owns 44,721 shares of the oil and gas producer’s stock worth $1,651,000 after buying an additional 3,105 shares during the period. 67.37% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on SU shares. TD Securities raised Suncor Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. BMO Capital Markets upgraded Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Wednesday, August 7th. Desjardins upgraded Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Finally, StockNews.com upgraded Suncor Energy from a “hold” rating to a “buy” rating in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $56.40.

Suncor Energy Price Performance

Shares of NYSE SU opened at $40.98 on Wednesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.04 and a current ratio of 1.59. Suncor Energy Inc. has a fifty-two week low of $29.45 and a fifty-two week high of $41.94. The firm has a market capitalization of $51.70 billion, a PE ratio of 8.93, a price-to-earnings-growth ratio of 2.79 and a beta of 1.12. The stock’s 50-day simple moving average is $38.56 and its 200-day simple moving average is $38.81.

Suncor Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd will be given a dividend of $0.4089 per share. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.40. The ex-dividend date is Tuesday, December 3rd. This represents a $1.64 annualized dividend and a yield of 3.99%. Suncor Energy’s payout ratio is 35.29%.

About Suncor Energy

Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.