Knowledge Leaders Capital LLC Decreases Stake in Suncor Energy Inc. (NYSE:SU)

Knowledge Leaders Capital LLC cut its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 3.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 19,852 shares of the oil and gas producer’s stock after selling 640 shares during the quarter. Knowledge Leaders Capital LLC’s holdings in Suncor Energy were worth $636,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of SU. Invesco Ltd. raised its position in Suncor Energy by 35.0% during the 3rd quarter. Invesco Ltd. now owns 16,466,624 shares of the oil and gas producer’s stock worth $566,123,000 after buying an additional 4,271,009 shares during the last quarter. Alberta Investment Management Corp grew its stake in shares of Suncor Energy by 113.8% during the 3rd quarter. Alberta Investment Management Corp now owns 7,630,881 shares of the oil and gas producer’s stock worth $263,614,000 after purchasing an additional 4,062,019 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Suncor Energy by 307.1% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,338,858 shares of the oil and gas producer’s stock worth $114,869,000 after purchasing an additional 2,518,758 shares during the period. Ninepoint Partners LP acquired a new stake in shares of Suncor Energy during the 3rd quarter worth approximately $77,355,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in Suncor Energy by 51.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,083,473 shares of the oil and gas producer’s stock valued at $209,198,000 after acquiring an additional 2,060,129 shares during the period. 67.37% of the stock is owned by hedge funds and other institutional investors.

Suncor Energy Price Performance

SU stock traded down $0.03 during midday trading on Friday, reaching $39.41. The stock had a trading volume of 2,564,634 shares, compared to its average volume of 3,993,987. The company’s fifty day simple moving average is $36.44 and its 200 day simple moving average is $33.90. The company has a current ratio of 1.44, a quick ratio of 0.88 and a debt-to-equity ratio of 0.26. The company has a market cap of $50.73 billion, a price-to-earnings ratio of 8.39, a price-to-earnings-growth ratio of 3.48 and a beta of 1.13. Suncor Energy Inc. has a 52-week low of $27.59 and a 52-week high of $39.63.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Wednesday, February 21st. The oil and gas producer reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.13. The company had revenue of $10.39 billion for the quarter, compared to analyst estimates of $8.46 billion. Suncor Energy had a return on equity of 16.08% and a net margin of 16.33%. During the same quarter last year, the firm posted $1.33 EPS. As a group, sell-side analysts predict that Suncor Energy Inc. will post 3.78 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Monday, March 4th were issued a dividend of $0.406 per share. This represents a $1.62 annualized dividend and a dividend yield of 4.12%. The ex-dividend date of this dividend was Friday, March 1st. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.39. Suncor Energy’s payout ratio is currently 34.26%.

Analyst Upgrades and Downgrades

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

Suncor Energy Company 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.