Suncor Energy Inc. (NYSE:SU) Shares Sold by Desjardins Global Asset Management Inc.

Desjardins Global Asset Management Inc. lowered its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 61.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,905 shares of the oil and gas producer’s stock after selling 7,746 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in Suncor Energy were worth $158,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in SU. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Suncor Energy by 13.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 12,045 shares of the oil and gas producer’s stock valued at $393,000 after acquiring an additional 1,382 shares during the last quarter. HighTower Advisors LLC raised its holdings in shares of Suncor Energy by 8.9% during the first quarter. HighTower Advisors LLC now owns 31,145 shares of the oil and gas producer’s stock valued at $1,013,000 after acquiring an additional 2,544 shares during the last quarter. BlackRock Inc. grew its position in shares of Suncor Energy by 41.9% in the first quarter. BlackRock Inc. now owns 927,375 shares of the oil and gas producer’s stock valued at $30,223,000 after purchasing an additional 273,853 shares in the last quarter. Raymond James Trust N.A. grew its position in shares of Suncor Energy by 40.4% in the first quarter. Raymond James Trust N.A. now owns 12,556 shares of the oil and gas producer’s stock valued at $409,000 after purchasing an additional 3,610 shares in the last quarter. Finally, Sei Investments Co. grew its position in shares of Suncor Energy by 20.5% in the first quarter. Sei Investments Co. now owns 11,827 shares of the oil and gas producer’s stock valued at $380,000 after purchasing an additional 2,015 shares in the last quarter. Institutional investors and hedge funds own 67.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on SU shares. StockNews.com upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. Morgan Stanley increased their price objective on Suncor Energy from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $52.00.

Suncor Energy Stock Up 0.4 %

NYSE:SU opened at $38.05 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.44 and a debt-to-equity ratio of 0.26. The stock’s fifty day moving average is $35.62 and its two-hundred day moving average is $33.64. Suncor Energy Inc. has a 52 week low of $27.59 and a 52 week high of $39.32. The stock has a market capitalization of $48.98 billion, a price-to-earnings ratio of 8.10, a price-to-earnings-growth ratio of 3.34 and a beta of 1.13.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings results on Wednesday, February 21st. The oil and gas producer reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.13. Suncor Energy had a return on equity of 16.08% and a net margin of 16.33%. The company had revenue of $10.39 billion for the quarter, compared to analysts’ expectations of $8.46 billion. During the same period in the prior year, the firm earned $1.33 earnings per share. Research analysts anticipate that Suncor Energy Inc. will post 3.78 EPS for the current year.

Suncor Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 4th were paid a dividend of $0.406 per share. This represents a $1.62 dividend on an annualized basis and a yield of 4.27%. This is a boost from Suncor Energy’s previous quarterly dividend of $0.39. The ex-dividend date was Friday, March 1st. Suncor Energy’s dividend payout ratio is 34.26%.

Suncor Energy Profile

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.