Mufg Securities Canada LTD. Sells 94,811 Shares of Suncor Energy Inc. $SU

Mufg Securities Canada LTD. trimmed its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 5.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,670,236 shares of the oil and gas producer’s stock after selling 94,811 shares during the period. Suncor Energy makes up about 2.4% of Mufg Securities Canada LTD.’s investment portfolio, making the stock its 16th biggest position. Mufg Securities Canada LTD.’s holdings in Suncor Energy were worth $89,713,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. AQR Capital Management LLC increased its stake in shares of Suncor Energy by 14.2% in the 1st quarter. AQR Capital Management LLC now owns 25,015 shares of the oil and gas producer’s stock valued at $959,000 after buying an additional 3,115 shares during the period. Geneos Wealth Management Inc. raised its holdings in Suncor Energy by 172.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,981 shares of the oil and gas producer’s stock worth $77,000 after purchasing an additional 1,254 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Suncor Energy by 21.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,667 shares of the oil and gas producer’s stock valued at $100,000 after purchasing an additional 464 shares during the period. AXA S.A. boosted its stake in shares of Suncor Energy by 17.2% in the 2nd quarter. AXA S.A. now owns 50,278 shares of the oil and gas producer’s stock valued at $1,883,000 after purchasing an additional 7,395 shares during the last quarter. Finally, NewEdge Advisors LLC grew its position in shares of Suncor Energy by 6.4% during the 2nd quarter. NewEdge Advisors LLC now owns 67,142 shares of the oil and gas producer’s stock worth $2,514,000 after buying an additional 4,043 shares during the period. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Price Performance

Shares of SU stock opened at $66.82 on Tuesday. The company has a quick ratio of 1.08, a current ratio of 1.65 and a debt-to-equity ratio of 0.19. Suncor Energy Inc. has a 12-month low of $37.76 and a 12-month high of $70.29. The firm has a fifty day moving average of $62.14 and a 200-day moving average of $62.20. The firm has a market capitalization of $78.90 billion, a price-to-earnings ratio of 12.31, a price-to-earnings-growth ratio of 0.47 and a beta of 0.29.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings data on Tuesday, August 4th. The oil and gas producer reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.19. The business had revenue of $13.41 billion for the quarter, compared to analyst estimates of $11.68 billion. Suncor Energy had a net margin of 15.62% and a return on equity of 20.05%. During the same period last year, the business posted $0.71 earnings per share. On average, equities research analysts forecast that Suncor Energy Inc. will post 7.39 earnings per share for the current year.

Suncor Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, September 4th. Suncor Energy’s dividend payout ratio is currently 32.04%.

Analyst Upgrades and Downgrades

SU has been the topic of a number of recent research reports. Morgan Stanley set a $106.00 price objective on shares of Suncor Energy in a research note on Wednesday, August 19th. Scotiabank upgraded Suncor Energy to a “strong-buy” rating in a research report on Friday, June 26th. Weiss Ratings raised Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, July 29th. The Goldman Sachs Group lowered Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 target price on the stock. in a research note on Friday, June 5th. Finally, Desjardins upgraded Suncor Energy to a “moderate buy” rating in a report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Suncor Energy presently has a consensus rating of “Moderate Buy” and an average price target of $80.25.

About Suncor Energy

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.