Suncor Energy Inc. (NYSE:SU) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 104.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 3,083,440 shares of the oil and gas producer’s stock after acquiring an additional 1,573,726 shares during the quarter. Bank of New York Mellon Corp’s holdings in Suncor Energy were worth $110,017,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. raised its position in shares of Suncor Energy by 1,324.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,469,008 shares of the oil and gas producer’s stock worth $123,774,000 after purchasing an additional 3,225,543 shares during the period. Principal Financial Group Inc. raised its position in Suncor Energy by 39.9% during the fourth quarter. Principal Financial Group Inc. now owns 9,706,616 shares of the oil and gas producer’s stock valued at $346,298,000 after buying an additional 2,767,043 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in Suncor Energy by 23.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,695,560 shares of the oil and gas producer’s stock worth $357,827,000 after purchasing an additional 1,829,936 shares during the last quarter. Fisher Asset Management LLC increased its position in Suncor Energy by 136.2% in the 3rd quarter. Fisher Asset Management LLC now owns 1,891,781 shares of the oil and gas producer’s stock worth $69,845,000 after purchasing an additional 1,090,988 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in Suncor Energy in the 3rd quarter worth about $23,286,000. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Trading Up 0.2 %

SU stock opened at $38.28 on Friday. The business has a fifty day moving average price of $38.28 and a 200 day moving average price of $38.62. Suncor Energy Inc. has a fifty-two week low of $33.79 and a fifty-two week high of $41.94. The stock has a market capitalization of $47.64 billion, a price-to-earnings ratio of 11.10, a P/E/G ratio of 2.94 and a beta of 1.12. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.33 and a quick ratio of 0.86.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Wednesday, February 5th. The oil and gas producer reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.07. Suncor Energy had a return on equity of 15.37% and a net margin of 11.80%. Analysts expect that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 4th will be given a $0.399 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $1.60 annualized dividend and a dividend yield of 4.17%. Suncor Energy’s dividend payout ratio is currently 45.22%.

Wall Street Analyst Weigh In

SU has been the topic of several research reports. Desjardins raised Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Morgan Stanley downgraded Suncor Energy from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 16th. Tudor, Pickering, Holt & Co. raised Suncor Energy from a “hold” rating to a “buy” rating in a report on Monday, February 10th. Bank of America began coverage on Suncor Energy in a report on Wednesday. They issued a “neutral” rating for the company. Finally, StockNews.com cut Suncor Energy from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Five analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $58.00.

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.