Legal & General Group Plc Sells 580,081 Shares of Suncor Energy Inc. $SU

Legal & General Group Plc cut its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 11.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,631,639 shares of the oil and gas producer’s stock after selling 580,081 shares during the period. Legal & General Group Plc owned approximately 0.39% of Suncor Energy worth $205,842,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Morningstar Investment Management LLC bought a new stake in Suncor Energy in the fourth quarter worth $529,000. Accent Capital Management LLC boosted its holdings in Suncor Energy by 37.5% in the fourth quarter. Accent Capital Management LLC now owns 825 shares of the oil and gas producer’s stock worth $37,000 after purchasing an additional 225 shares in the last quarter. Life Cycle Investment Partners Ltd bought a new stake in Suncor Energy in the fourth quarter worth $28,862,000. Cumberland Partners Ltd bought a new stake in Suncor Energy in the fourth quarter worth $294,000. Finally, Global Retirement Partners LLC boosted its holdings in Suncor Energy by 63.4% in the fourth quarter. Global Retirement Partners LLC now owns 6,026 shares of the oil and gas producer’s stock worth $267,000 after purchasing an additional 2,338 shares in the last quarter. 67.37% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SU. Weiss Ratings upgraded shares of Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 6th. Wall Street Zen upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. ATB Cormark Capital Markets raised shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, April 1st. The Goldman Sachs Group boosted their target price on shares of Suncor Energy from $66.00 to $73.00 and gave the stock a “buy” rating in a research report on Wednesday, April 1st. Finally, Zacks Research raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 2nd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $72.00.

Suncor Energy Stock Down 2.4%

Suncor Energy stock opened at $64.01 on Thursday. The firm has a market cap of $75.58 billion, a price-to-earnings ratio of 16.80 and a beta of 0.31. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 0.92. Suncor Energy Inc. has a fifty-two week low of $35.29 and a fifty-two week high of $70.29. The firm has a fifty day moving average price of $65.20 and a two-hundred day moving average price of $54.84.

Suncor Energy (NYSE:SU) (TSE:SU) last released its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). The firm had revenue of $10.41 billion for the quarter, compared to analyst estimates of $9.22 billion. Suncor Energy had a return on equity of 13.96% and a net margin of 12.29%.During the same period in the prior year, the firm earned $1.31 EPS. As a group, analysts forecast that Suncor Energy Inc. will post 7.07 earnings per share for the current year.

Suncor Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $2.40 dividend on an annualized basis and a yield of 3.7%. Suncor Energy’s payout ratio is currently 46.19%.

About Suncor Energy

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.