Desjardins Global Asset Management Inc. Lowers Stock Holdings in Suncor Energy Inc. (NYSE:SU)

Desjardins Global Asset Management Inc. reduced its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 61.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 4,905 shares of the oil and gas producer’s stock after selling 7,746 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Suncor Energy were worth $158,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SU. Vanguard Group Inc. grew its stake in shares of Suncor Energy by 1.5% during the 3rd 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 buying an additional 731,163 shares during the period. Ninepoint Partners LP purchased a new stake in shares of Suncor Energy during the 3rd quarter valued at $77,355,000. JPMorgan Chase & Co. grew its stake in shares of Suncor Energy by 13.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,348,348 shares of the oil and gas producer’s stock valued at $183,876,000 after buying an additional 628,262 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of 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 buying an additional 533,754 shares during the period. Finally, FMR LLC grew its stake in shares of Suncor Energy by 0.3% during the 3rd quarter. FMR LLC now owns 17,248,932 shares of the oil and gas producer’s stock valued at $593,188,000 after buying an additional 49,765 shares during the period. 67.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SU. StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. Morgan Stanley upped their price target 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. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.00.

Suncor Energy Stock Performance

Shares of SU stock opened at $38.05 on Friday. Suncor Energy Inc. has a 12 month low of $27.59 and a 12 month high of $39.32. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.44 and a quick ratio of 0.88. The firm has a market capitalization of $48.98 billion, a P/E ratio of 8.10, a P/E/G ratio of 3.34 and a beta of 1.13. The company’s fifty day moving average price is $35.62 and its two-hundred day moving average price is $33.64.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings data on Wednesday, February 21st. The oil and gas producer reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.13. Suncor Energy had a net margin of 16.33% and a return on equity of 16.08%. The firm had revenue of $10.39 billion for the quarter, compared to analyst estimates of $8.46 billion. During the same quarter in the previous year, the business posted $1.33 EPS. On average, research analysts anticipate that Suncor Energy Inc. will post 3.78 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Monday, March 4th were paid a $0.406 dividend. This represents a $1.62 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date of this dividend was Friday, March 1st. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.39. Suncor Energy’s dividend payout ratio is 34.26%.

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.