Addenda Capital Inc. Sells 90,614 Shares of Suncor Energy Inc. (NYSE:SU)

Addenda Capital Inc. cut its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 9.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 883,469 shares of the oil and gas producer’s stock after selling 90,614 shares during the period. Suncor Energy accounts for approximately 1.5% of Addenda Capital Inc.’s portfolio, making the stock its 20th largest position. Addenda Capital Inc. owned 0.07% of Suncor Energy worth $32,609,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Personalized Indexing Management LLC grew its stake in shares of Suncor Energy by 10.7% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 29,873 shares of the oil and gas producer’s stock worth $957,000 after buying an additional 2,895 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Suncor Energy by 1.5% during the third quarter. Vanguard Group Inc. now owns 50,379,614 shares of the oil and gas producer’s stock valued at $1,732,051,000 after acquiring an additional 731,163 shares in the last quarter. Sanders Capital LLC raised its position in shares of Suncor Energy by 2.8% in the 4th quarter. Sanders Capital LLC now owns 57,318,037 shares of the oil and gas producer’s stock worth $1,836,470,000 after purchasing an additional 1,568,629 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Suncor Energy by 13.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,348,348 shares of the oil and gas producer’s stock worth $183,876,000 after purchasing an additional 628,262 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in Suncor Energy by 1,689.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 565,339 shares of the oil and gas producer’s stock valued at $18,118,000 after purchasing an additional 533,754 shares during the last quarter. 67.37% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SU has been the subject of a number of research analyst reports. Morgan Stanley lifted their target price on shares of Suncor Energy from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. The Goldman Sachs Group upped their price target on Suncor Energy from $38.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. TD Securities lifted their price objective on Suncor Energy from $52.00 to $57.00 and gave the company a “hold” rating in a research report on Wednesday, May 22nd. StockNews.com upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Monday. Finally, Raymond James upgraded shares of Suncor Energy to a “hold” rating in a research report on Tuesday, May 28th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $51.67.

Suncor Energy Trading Up 0.2 %

NYSE SU traded up $0.09 on Friday, hitting $38.11. 3,880,395 shares of the stock were exchanged, compared to its average volume of 4,691,333. Suncor Energy Inc. has a 52-week low of $28.26 and a 52-week high of $41.50. The firm has a market capitalization of $48.83 billion, a P/E ratio of 8.49, a P/E/G ratio of 3.54 and a beta of 1.11. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.97 and a current ratio of 1.51. The stock has a fifty day moving average price of $38.76 and a two-hundred day moving average price of $35.70.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results on Tuesday, May 7th. The oil and gas producer reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.15. The business had revenue of $9.29 billion during the quarter, compared to analyst estimates of $8.64 billion. Suncor Energy had a return on equity of 15.69% and a net margin of 15.38%. Research analysts forecast that Suncor Energy Inc. will post 3.52 EPS for the current fiscal year.

Suncor Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 25th. Investors of record on Tuesday, June 4th were issued a dividend of $0.395 per share. The ex-dividend date was Tuesday, June 4th. This represents a $1.58 dividend on an annualized basis and a yield of 4.15%. Suncor Energy’s payout ratio is 35.19%.

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.