TD Asset Management Inc Lowers Stock Holdings in Suncor Energy Inc. $SU

TD Asset Management Inc reduced its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 0.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 23,040,499 shares of the oil and gas producer’s stock after selling 132,348 shares during the period. Suncor Energy comprises approximately 0.8% of TD Asset Management Inc’s holdings, making the stock its 27th biggest holding. TD Asset Management Inc owned 1.93% of Suncor Energy worth $1,023,985,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SU. Atlantic Edge Private Wealth Management LLC grew its stake in Suncor Energy by 54.9% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 635 shares of the oil and gas producer’s stock worth $28,000 after acquiring an additional 225 shares during the period. Headlands Technologies LLC purchased a new stake in Suncor Energy in the 2nd quarter worth approximately $31,000. Smartleaf Asset Management LLC grew its stake in Suncor Energy by 95.8% in the 3rd quarter. Smartleaf Asset Management LLC now owns 793 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 388 shares during the period. Accent Capital Management LLC grew its stake in shares of Suncor Energy by 37.5% during the 4th quarter. Accent Capital Management LLC now owns 825 shares of the oil and gas producer’s stock valued at $37,000 after buying an additional 225 shares during the period. Finally, Maseco LLP purchased a new stake in shares of Suncor Energy during the 4th quarter valued at $39,000. 67.37% of the stock is owned by hedge funds and other institutional investors.

Suncor Energy Stock Performance

NYSE:SU opened at $65.57 on Thursday. 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 market capitalization of $77.42 billion, a price-to-earnings ratio of 17.21 and a beta of 0.27. The firm’s fifty day simple moving average is $65.33 and its 200 day simple moving average is $55.57. Suncor Energy Inc. has a twelve month low of $35.93 and a twelve month high of $70.29.

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

Suncor Energy Announces Dividend

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

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Zacks Research cut shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday. The Goldman Sachs Group boosted their price objective on shares of Suncor Energy from $66.00 to $73.00 and gave the company a “buy” rating in a research note on Wednesday, April 1st. Wall Street Zen raised shares of Suncor Energy from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 30th. Weiss Ratings raised shares of Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 6th. Finally, ATB Cormark Capital Markets raised shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, April 1st. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $72.00.

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.