Guinness Asset Management LTD Trims Position in Suncor Energy Inc. $SU

Guinness Asset Management LTD decreased its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 9.8% during the second quarter, Holdings Channel reports. The fund owned 245,325 shares of the oil and gas producer’s stock after selling 26,789 shares during the period. Guinness Asset Management LTD’s holdings in Suncor Energy were worth $9,194,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in SU. Shell Asset Management Co. increased its position in shares of Suncor Energy by 65.8% during the 2nd quarter. Shell Asset Management Co. now owns 103,082 shares of the oil and gas producer’s stock valued at $3,854,000 after purchasing an additional 40,892 shares during the last quarter. Focus Partners Wealth boosted its holdings in shares of Suncor Energy by 1.3% in the first quarter. Focus Partners Wealth now owns 796,967 shares of the oil and gas producer’s stock worth $30,859,000 after buying an additional 10,514 shares during the last quarter. Principal Financial Group Inc. grew its position in Suncor Energy by 65.0% during the first quarter. Principal Financial Group Inc. now owns 16,018,129 shares of the oil and gas producer’s stock valued at $620,136,000 after buying an additional 6,311,513 shares during the period. Canoe Financial LP bought a new stake in Suncor Energy during the second quarter valued at approximately $9,653,000. Finally, Bank of New York Mellon Corp increased its holdings in Suncor Energy by 13.3% during the first quarter. Bank of New York Mellon Corp now owns 3,492,472 shares of the oil and gas producer’s stock valued at $135,228,000 after buying an additional 409,032 shares during the last quarter. 67.37% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on SU. Weiss Ratings reiterated a “hold (c+)” rating on shares of Suncor Energy in a research note on Friday. Zacks Research cut Suncor Energy from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 15th. Royal Bank Of Canada reiterated an “outperform” rating and set a $65.00 target price on shares of Suncor Energy in a research report on Friday, October 3rd. Finally, Wells Fargo & Company started coverage on Suncor Energy in a research report on Friday, October 17th. They issued an “equal weight” rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $65.00.

Suncor Energy Trading Up 0.5%

Shares of SU stock opened at $39.80 on Monday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.77 and a current ratio of 1.26. The stock has a fifty day simple moving average of $40.71 and a two-hundred day simple moving average of $38.49. The firm has a market capitalization of $48.12 billion, a PE ratio of 12.25, a PEG ratio of 3.51 and a beta of 0.78. Suncor Energy Inc. has a 52-week low of $30.79 and a 52-week high of $43.48.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Tuesday, August 5th. The oil and gas producer reported $0.51 EPS for the quarter, beating the consensus estimate of $0.50 by $0.01. Suncor Energy had a return on equity of 13.21% and a net margin of 11.35%.The business had revenue of $8.81 billion for the quarter, compared to the consensus estimate of $11.56 billion. During the same period in the previous year, the business earned $1.27 earnings per share. On average, analysts predict that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th were paid a $0.4135 dividend. This represents a $1.65 annualized dividend and a yield of 4.2%. The ex-dividend date was Thursday, September 4th. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.41. Suncor Energy’s dividend payout ratio is currently 51.08%.

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.