Suncor Energy Inc. (NYSE:SU) Stake Lessened by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS lessened its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 0.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 269,510 shares of the oil and gas producer’s stock after selling 1,490 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Suncor Energy were worth $8,635,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mraz Amerine & Associates Inc. increased its stake in Suncor Energy by 14.4% during the fourth quarter. Mraz Amerine & Associates Inc. now owns 24,219 shares of the oil and gas producer’s stock valued at $776,000 after purchasing an additional 3,045 shares during the last quarter. Cullen Investment Group LTD. bought a new stake in Suncor Energy during the fourth quarter valued at $1,150,000. Beverly Hills Private Wealth LLC bought a new stake in Suncor Energy during the fourth quarter valued at $371,000. NewEdge Wealth LLC increased its stake in Suncor Energy by 9.9% during the fourth quarter. NewEdge Wealth LLC now owns 587,664 shares of the oil and gas producer’s stock valued at $18,829,000 after purchasing an additional 52,802 shares during the last quarter. Finally, Clarius Group LLC increased its stake in Suncor Energy by 62.2% during the fourth quarter. Clarius Group LLC now owns 11,235 shares of the oil and gas producer’s stock valued at $360,000 after purchasing an additional 4,307 shares during the last quarter. Institutional investors own 67.37% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. StockNews.com upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. Morgan Stanley boosted their target price 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. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Suncor Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.00.

Suncor Energy Stock Performance

Shares of SU traded up $0.49 during midday trading on Friday, hitting $38.54. 4,912,536 shares of the stock traded hands, compared to its average volume of 4,004,363. Suncor Energy Inc. has a 1-year low of $27.59 and a 1-year high of $39.32. The firm has a market capitalization of $49.61 billion, a PE ratio of 8.20, a price-to-earnings-growth ratio of 3.35 and a beta of 1.13. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.88 and a current ratio of 1.44. The business’s 50 day moving average price is $35.75 and its two-hundred day moving average price is $33.67.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings data on Wednesday, February 21st. The oil and gas producer reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.13. The business had revenue of $10.39 billion during the quarter, compared to the consensus estimate of $8.46 billion. Suncor Energy had a net margin of 16.33% and a return on equity of 16.08%. During the same quarter in the prior year, the company posted $1.33 earnings per share. Equities research analysts predict that Suncor Energy Inc. will post 3.78 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Monday, March 4th were issued a $0.406 dividend. The ex-dividend date was Friday, March 1st. This represents a $1.62 annualized dividend and a yield of 4.21%. This is an increase from Suncor Energy’s previous quarterly dividend of $0.39. Suncor Energy’s dividend payout ratio is presently 34.26%.

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.