Mufg Securities Canada LTD. Lowers Stock Holdings in Suncor Energy Inc. $SU

Mufg Securities Canada LTD. trimmed its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 8.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,829,078 shares of the oil and gas producer’s stock after selling 178,528 shares during the period. Suncor Energy makes up approximately 2.3% of Mufg Securities Canada LTD.’s holdings, making the stock its 17th largest position. Mufg Securities Canada LTD. owned approximately 0.15% of Suncor Energy worth $81,201,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in SU. Fisher Asset Management LLC lifted its holdings in shares of Suncor Energy by 85.5% during the third quarter. Fisher Asset Management LLC now owns 15,530,965 shares of the oil and gas producer’s stock valued at $649,350,000 after purchasing an additional 7,158,953 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Suncor Energy by 62.2% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 13,335,239 shares of the oil and gas producer’s stock worth $557,682,000 after acquiring an additional 5,113,280 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Suncor Energy by 5,468.8% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,289,219 shares of the oil and gas producer’s stock worth $101,609,000 after acquiring an additional 2,248,111 shares during the last quarter. Alyeska Investment Group L.P. raised its holdings in Suncor Energy by 334.8% in the 3rd quarter. Alyeska Investment Group L.P. now owns 2,590,863 shares of the oil and gas producer’s stock worth $108,324,000 after acquiring an additional 1,995,007 shares during the last quarter. Finally, Bank of Nova Scotia raised its holdings in Suncor Energy by 63.5% in the 3rd quarter. Bank of Nova Scotia now owns 5,028,399 shares of the oil and gas producer’s stock worth $210,474,000 after acquiring an additional 1,952,444 shares during the last quarter. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Suncor Energy Trading Down 0.1%

NYSE:SU opened at $61.56 on Monday. 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 Inc. has a 12 month low of $37.22 and a 12 month high of $70.29. The company has a market cap of $72.69 billion, a PE ratio of 16.16 and a beta of 0.27. The company has a 50 day simple moving average of $64.94 and a two-hundred day simple moving average of $56.45.

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

Suncor Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders 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 dividend yield of 3.9%. Suncor Energy’s payout ratio is presently 45.67%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Zacks Research lowered shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, June 1st. ATB Cormark Capital Markets upgraded shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a report on Wednesday, April 1st. Weiss Ratings lowered shares of Suncor Energy from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, June 3rd. Wall Street Zen lowered shares of Suncor Energy from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 7th. Finally, Royal Bank Of Canada boosted their price objective on shares of Suncor Energy from $75.00 to $89.00 and gave the stock an “outperform” rating in a report on Wednesday, April 1st. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $71.67.

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.