Intech Investment Management LLC Decreases Position in Suncor Energy Inc. $SU

Intech Investment Management LLC lowered its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 25.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 332,950 shares of the oil and gas producer’s stock after selling 115,497 shares during the quarter. Intech Investment Management LLC’s holdings in Suncor Energy were worth $12,447,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Shell Asset Management Co. lifted its stake in shares of Suncor Energy by 65.8% in the second quarter. Shell Asset Management Co. now owns 103,082 shares of the oil and gas producer’s stock worth $3,854,000 after acquiring an additional 40,892 shares in the last quarter. Focus Partners Wealth increased its holdings in Suncor Energy by 1.3% during the 1st quarter. Focus Partners Wealth now owns 796,967 shares of the oil and gas producer’s stock worth $30,859,000 after purchasing an additional 10,514 shares during the last quarter. Canoe Financial LP purchased a new stake in Suncor Energy during the 2nd quarter worth approximately $9,653,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Suncor Energy by 36.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 944,533 shares of the oil and gas producer’s stock valued at $36,572,000 after purchasing an additional 251,298 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its stake in shares of Suncor Energy by 18.6% during the 1st quarter. Mackenzie Financial Corp now owns 15,377,546 shares of the oil and gas producer’s stock valued at $595,398,000 after buying an additional 2,410,857 shares during the last quarter. 67.37% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SU. Royal Bank Of Canada restated an “outperform” rating and issued a $65.00 price target on shares of Suncor Energy in a research note on Friday, October 3rd. Raymond James Financial raised shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Thursday, November 6th. Wells Fargo & Company initiated coverage on shares of Suncor Energy in a research report on Friday, October 17th. They issued an “equal weight” rating for the company. Zacks Research lowered shares of Suncor Energy from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 15th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Suncor Energy in a research note on Thursday. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Suncor Energy presently has a consensus rating of “Moderate Buy” and an average target price of $65.00.

Suncor Energy Stock Up 1.6%

SU stock opened at $44.32 on Friday. The firm has a market cap of $53.47 billion, a price-to-earnings ratio of 13.64, a PEG ratio of 3.52 and a beta of 0.75. Suncor Energy Inc. has a 1-year low of $30.79 and a 1-year high of $44.70. The firm has a fifty day moving average price of $41.13 and a two-hundred day moving average price of $39.24. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.26 and a quick ratio of 0.77.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings results on Tuesday, November 4th. The oil and gas producer reported $1.07 EPS for the quarter, beating the consensus estimate of $0.85 by $0.22. Suncor Energy had a net margin of 11.35% and a return on equity of 13.21%. The business had revenue of $9.04 billion during the quarter, compared to analyst estimates of $8.82 billion. During the same period in the previous year, the business posted $1.48 EPS. Research analysts predict that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 24th. Stockholders of record on Wednesday, December 3rd will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 5.4%. This is a boost from Suncor Energy’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Wednesday, December 3rd. Suncor Energy’s dividend payout ratio is currently 55.74%.

About Suncor Energy

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.