Guinness Asset Management LTD Sells 40,689 Shares of Suncor Energy Inc. $SU

Guinness Asset Management LTD cut its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 18.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 185,323 shares of the oil and gas producer’s stock after selling 40,689 shares during the period. Guinness Asset Management LTD’s holdings in Suncor Energy were worth $8,109,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in SU. AQR Capital Management LLC lifted its stake in Suncor Energy by 14.2% in the first quarter. AQR Capital Management LLC now owns 25,015 shares of the oil and gas producer’s stock worth $959,000 after purchasing an additional 3,115 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in Suncor Energy by 172.5% in the first quarter. Geneos Wealth Management Inc. now owns 1,981 shares of the oil and gas producer’s stock worth $77,000 after purchasing an additional 1,254 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Suncor Energy by 21.1% in the second quarter. EverSource Wealth Advisors LLC now owns 2,667 shares of the oil and gas producer’s stock worth $100,000 after purchasing an additional 464 shares during the last quarter. AXA S.A. lifted its stake in Suncor Energy by 17.2% in the second quarter. AXA S.A. now owns 50,278 shares of the oil and gas producer’s stock worth $1,883,000 after purchasing an additional 7,395 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its stake in Suncor Energy by 6.4% in the second quarter. NewEdge Advisors LLC now owns 67,142 shares of the oil and gas producer’s stock worth $2,514,000 after purchasing an additional 4,043 shares during the last quarter. 67.37% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SU has been the subject of several recent research reports. ATB Cormark Capital Markets raised shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, April 1st. Royal Bank Of Canada boosted their price target on shares of Suncor Energy from $75.00 to $89.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 1st. Wall Street Zen raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Zacks Research raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 2nd. Finally, Weiss Ratings raised shares of Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $72.00.

Suncor Energy Price Performance

SU stock opened at $67.34 on Friday. The firm’s 50-day moving average price is $64.86 and its two-hundred day moving average price is $54.22. Suncor Energy Inc. has a 12-month low of $34.99 and a 12-month high of $70.29. The stock has a market capitalization of $79.52 billion, a price-to-earnings ratio of 17.68 and a beta of 0.31. The company has a current ratio of 1.42, a quick ratio of 0.92 and a debt-to-equity ratio of 0.20.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. The firm had revenue of $10.41 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the previous year, the firm posted $1.31 EPS. As a group, equities analysts predict that Suncor Energy Inc. will post 6.79 earnings per share for the current year.

Suncor Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 4th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Thursday, June 4th. Suncor Energy’s dividend payout ratio is presently 46.19%.

Suncor Energy Profile

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company’s operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.