Suncor Energy Inc. (NYSE:SU) Shares Acquired by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA increased its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 0.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 23,308,055 shares of the oil and gas producer’s stock after purchasing an additional 209,447 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Suncor Energy were worth $831,631,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Suncor Energy by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 53,019,357 shares of the oil and gas producer’s stock worth $1,892,526,000 after buying an additional 323,714 shares during the period. Artisan Partners Limited Partnership boosted its position in Suncor Energy by 0.7% during the 4th quarter. Artisan Partners Limited Partnership now owns 24,289,019 shares of the oil and gas producer’s stock worth $865,885,000 after purchasing an additional 169,700 shares during the period. Toronto Dominion Bank increased its holdings in Suncor Energy by 1.8% in the 3rd quarter. Toronto Dominion Bank now owns 18,546,207 shares of the oil and gas producer’s stock valued at $684,726,000 after purchasing an additional 333,440 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Suncor Energy by 4.5% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,132,812 shares of the oil and gas producer’s stock valued at $361,227,000 after purchasing an additional 437,252 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in shares of 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 worth $346,298,000 after purchasing an additional 2,767,043 shares in the last quarter. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Scotiabank upgraded Suncor Energy to a “hold” rating in a research note on Wednesday, March 19th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $66.00 price objective on shares of Suncor Energy in a research report on Tuesday, January 7th. Tudor Pickering raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 10th. Bank of America initiated coverage on shares of Suncor Energy in a report on Wednesday, February 26th. They set a “neutral” rating for the company. Finally, StockNews.com upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Tuesday. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $59.20.

Suncor Energy Price Performance

Shares of SU stock opened at $39.03 on Wednesday. The firm has a fifty day moving average of $38.11 and a two-hundred day moving average of $38.22. The firm has a market cap of $48.28 billion, a P/E ratio of 11.31, a P/E/G ratio of 2.94 and a beta of 1.11. Suncor Energy Inc. has a 1-year low of $33.81 and a 1-year high of $41.95. 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 posted its quarterly earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 EPS for the quarter, topping 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%. As a group, research analysts anticipate that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 4th were given a dividend of $0.399 per share. This represents a $1.60 annualized dividend and a dividend yield of 4.09%. The ex-dividend date was Tuesday, March 4th. Suncor Energy’s dividend payout ratio is currently 45.51%.

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.