Burgundy Asset Management Ltd. lowered its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 23.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,714,803 shares of the company’s stock after selling 1,745,217 shares during the period. Suncor Energy makes up about 1.8% of Burgundy Asset Management Ltd.’s portfolio, making the stock its 25th largest position. Burgundy Asset Management Ltd.’s holdings in Suncor Energy were worth $186,848,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Capital Research Global Investors raised its position in shares of Suncor Energy by 18.1% in the third quarter. Capital Research Global Investors now owns 83,187,261 shares of the company’s stock worth $2,309,295,000 after buying an additional 12,754,839 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Suncor Energy by 12.1% in the second quarter. Bank of New York Mellon Corp now owns 46,214,835 shares of the company’s stock worth $1,281,537,000 after buying an additional 4,998,480 shares during the last quarter. Capital World Investors raised its position in shares of Suncor Energy by 11.6% in the second quarter. Capital World Investors now owns 38,788,644 shares of the company’s stock worth $1,076,036,000 after buying an additional 4,045,701 shares during the last quarter. CIBC Asset Management Inc raised its position in shares of Suncor Energy by 4.7% in the second quarter. CIBC Asset Management Inc now owns 15,222,208 shares of the company’s stock worth $419,976,000 after buying an additional 690,010 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its position in shares of Suncor Energy by 35.5% in the second quarter. 1832 Asset Management L.P. now owns 14,962,705 shares of the company’s stock worth $642,704,000 after buying an additional 3,916,471 shares during the last quarter. 64.84% of the stock is currently owned by institutional investors.
Suncor Energy Inc. (NYSE:SU) traded up 0.60% on Monday, hitting $31.90. The stock had a trading volume of 2,158,220 shares. The firm has a 50-day moving average of $32.06 and a 200 day moving average of $29.70. The company has a market capitalization of $53.15 billion, a price-to-earnings ratio of 154.85 and a beta of 0.96. Suncor Energy Inc. has a 52 week low of $21.45 and a 52 week high of $33.79.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 24th. Investors of record on Friday, March 3rd will be paid a dividend of $0.2457 per share. The ex-dividend date of this dividend is Wednesday, March 1st. This is a positive change from Suncor Energy ‘s previous quarterly dividend of $0.22. This represents a $0.98 dividend on an annualized basis and a yield of 3.08%. Suncor Energy ‘s dividend payout ratio is presently 477.78%.
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A number of equities analysts have recently weighed in on SU shares. TD Securities reaffirmed a “buy” rating and set a $46.00 target price (up from $45.00) on shares of Suncor Energy in a research report on Monday, November 21st. Scotiabank reaffirmed an “outperform” rating and set a $45.00 target price (up from $44.00) on shares of Suncor Energy in a research report on Monday, November 21st. Zacks Investment Research raised Suncor Energy from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a research report on Monday. RBC Capital Markets reaffirmed an “outperform” rating and set a $47.00 target price (up from $45.00) on shares of Suncor Energy in a research report on Monday, November 21st. Finally, Wells Fargo & Company assumed coverage on Suncor Energy in a research report on Friday, December 16th. They issued an “outperform” rating for the company. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $41.81.
Suncor Energy Company Profile
Suncor Energy Inc (Suncor) is an integrated energy company. The Company is focused on developing Canada’s petroleum resource basin, Athabasca oil sands. The Company operates in three business segments: Oil Sands, Exploration and Production (E&P), and Refining and Marketing. The Company’s Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations.
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