TD Asset Management Inc Sells 293,681 Shares of Suncor Energy Inc. (NYSE:SU)

TD Asset Management Inc lessened its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 1.0% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 28,224,426 shares of the oil and gas producer’s stock after selling 293,681 shares during the period. Suncor Energy accounts for approximately 1.0% of TD Asset Management Inc’s portfolio, making the stock its 16th largest holding. TD Asset Management Inc’s holdings in Suncor Energy were worth $1,075,678,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in SU. Fiera Capital Corp increased its stake in Suncor Energy by 27.4% in the 2nd quarter. Fiera Capital Corp now owns 1,388,946 shares of the oil and gas producer’s stock worth $52,968,000 after acquiring an additional 298,470 shares during the last quarter. Versor Investments LP purchased a new position in shares of Suncor Energy during the second quarter worth about $865,000. Natixis Advisors LLC increased its position in shares of Suncor Energy by 1.7% in the second quarter. Natixis Advisors LLC now owns 956,795 shares of the oil and gas producer’s stock worth $36,454,000 after purchasing an additional 16,152 shares during the last quarter. Ritholtz Wealth Management increased its position in shares of Suncor Energy by 4.8% in the second quarter. Ritholtz Wealth Management now owns 109,955 shares of the oil and gas producer’s stock worth $4,189,000 after purchasing an additional 5,053 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its stake in Suncor Energy by 133.2% in the second quarter. Commonwealth Equity Services LLC now owns 76,651 shares of the oil and gas producer’s stock valued at $2,920,000 after purchasing an additional 43,779 shares in the last quarter. Institutional investors own 67.37% of the company’s stock.

Suncor Energy Trading Up 0.9 %

Shares of SU stock opened at $39.17 on Thursday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.46 and a quick ratio of 0.93. The business has a 50-day moving average of $39.20 and a 200 day moving average of $38.10. The stock has a market capitalization of $49.76 billion, a PE ratio of 8.65, a P/E/G ratio of 2.73 and a beta of 1.13. Suncor Energy Inc. has a 1-year low of $29.45 and a 1-year high of $41.94.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its earnings results on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.51. Suncor Energy had a net margin of 14.40% and a return on equity of 16.22%. The firm had revenue of $12.90 billion for the quarter, compared to analysts’ expectations of $9.30 billion. During the same quarter last year, the business earned $0.71 earnings per share. The business’s revenue was up 10.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Suncor Energy Inc. will post 3.71 earnings per share for the current year.

Suncor Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be paid a dividend of $0.395 per share. This represents a $1.58 annualized dividend and a dividend yield of 4.03%. The ex-dividend date is Wednesday, September 4th. Suncor Energy’s dividend payout ratio (DPR) is 35.63%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on SU shares. Scotiabank decreased their price target on shares of Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. BMO Capital Markets raised Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 7th. Wolfe Research assumed coverage on Suncor Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $68.00 price target on the stock. Raymond James upgraded Suncor Energy to a “hold” rating in a report on Tuesday, May 28th. Finally, TD Securities raised Suncor Energy from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $54.86.

Suncor Energy 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.