The Manufacturers Life Insurance Company Decreases Stock Holdings in Suncor Energy Inc. $SU

The Manufacturers Life Insurance Company lowered its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 13.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,444,825 shares of the oil and gas producer’s stock after selling 2,236,798 shares during the period. Suncor Energy makes up 0.8% of The Manufacturers Life Insurance Company’s portfolio, making the stock its 15th biggest position. The Manufacturers Life Insurance Company owned about 1.22% of Suncor Energy worth $954,564,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in SU. Intact Investment Management Inc. raised its holdings in shares of Suncor Energy by 36.3% during the 4th quarter. Intact Investment Management Inc. now owns 1,695,160 shares of the oil and gas producer’s stock valued at $75,236,000 after buying an additional 451,110 shares during the period. Harvest Portfolios Group Inc. grew its position in Suncor Energy by 9.1% in the fourth quarter. Harvest Portfolios Group Inc. now owns 360,668 shares of the oil and gas producer’s stock valued at $16,008,000 after acquiring an additional 30,210 shares in the last quarter. Vanguard Group Inc. grew its position in Suncor Energy by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 55,720,921 shares of the oil and gas producer’s stock valued at $2,473,173,000 after acquiring an additional 1,166,405 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Suncor Energy by 3.4% during the first quarter. Dimensional Fund Advisors LP now owns 12,609,777 shares of the oil and gas producer’s stock valued at $833,622,000 after purchasing an additional 411,243 shares during the period. Finally, Pictet Asset Management Holding SA raised its stake in shares of Suncor Energy by 3.7% during the fourth quarter. Pictet Asset Management Holding SA now owns 431,007 shares of the oil and gas producer’s stock valued at $19,155,000 after purchasing an additional 15,332 shares during the period. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Suncor Energy Stock Down 2.8%

SU stock opened at $63.99 on Tuesday. The company has a current ratio of 1.42, a quick ratio of 0.92 and a debt-to-equity ratio of 0.20. The firm has a 50 day simple moving average of $60.80 and a 200-day simple moving average of $59.61. The company has a market capitalization of $75.56 billion, a P/E ratio of 16.80, a PEG ratio of 0.49 and a beta of 0.30. Suncor Energy Inc. has a twelve month low of $37.76 and a twelve month high of $70.29.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.45 by ($0.04). Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. The company had revenue of $10.41 billion during the quarter, compared to analyst estimates of $9.22 billion. During the same period in the prior year, the company earned $1.31 earnings per share. On average, equities research analysts predict that Suncor Energy Inc. will post 7.11 earnings per share for the current fiscal year.

Suncor Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Thursday, June 4th. Suncor Energy’s dividend payout ratio is 45.67%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SU. Zacks Research upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 6th. Desjardins raised shares of Suncor Energy to a “moderate buy” rating in a research note on Thursday, July 16th. Weiss Ratings lowered shares of Suncor Energy from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 14th. Wall Street Zen raised shares of Suncor Energy from a “buy” rating to a “strong-buy” rating in a research report on Sunday, July 12th. Finally, ATB Cormark Capital Markets upgraded Suncor Energy from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, April 1st. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “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.