Cardinal Capital Management Inc. Sells 56,919 Shares of Suncor Energy Inc. (NYSE:SU)

Cardinal Capital Management Inc. lowered its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 1.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 3,654,107 shares of the oil and gas producer’s stock after selling 56,919 shares during the period. Suncor Energy makes up about 4.4% of Cardinal Capital Management Inc.’s portfolio, making the stock its 4th largest position. Cardinal Capital Management Inc.’s holdings in Suncor Energy were worth $130,139,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Sei Investments Co. increased its stake in Suncor Energy by 57.8% during the 2nd quarter. Sei Investments Co. now owns 248,867 shares of the oil and gas producer’s stock worth $9,482,000 after acquiring an additional 91,163 shares during the period. Gabelli Funds LLC grew its holdings in shares of Suncor Energy by 8.4% during the 2nd quarter. Gabelli Funds LLC now owns 119,700 shares of the oil and gas producer’s stock worth $4,561,000 after purchasing an additional 9,300 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Suncor Energy by 184.0% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 179,773 shares of the oil and gas producer’s stock worth $6,854,000 after purchasing an additional 116,482 shares during the period. Toronto Dominion Bank lifted its position in Suncor Energy by 3.4% during the second quarter. Toronto Dominion Bank now owns 18,212,767 shares of the oil and gas producer’s stock worth $693,906,000 after purchasing an additional 605,833 shares during the period. Finally, Merewether Investment Management LP bought a new stake in Suncor Energy during the second quarter worth about $42,268,000. Institutional investors own 67.37% of the company’s stock.

Suncor Energy Trading Down 1.5 %

Shares of SU stock opened at $39.22 on Thursday. Suncor Energy Inc. has a twelve month low of $31.25 and a twelve month high of $41.94. The stock’s fifty day simple moving average is $38.10 and its 200 day simple moving average is $38.53. The company has a quick ratio of 1.04, a current ratio of 1.59 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $48.81 billion, a P/E ratio of 8.54, a P/E/G ratio of 3.42 and a beta of 1.12.

Suncor Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 3rd were paid a $0.4089 dividend. The ex-dividend date was Tuesday, December 3rd. This represents a $1.64 annualized dividend and a dividend yield of 4.17%. This is an increase from Suncor Energy’s previous quarterly dividend of $0.40. Suncor Energy’s dividend payout ratio is currently 35.08%.

Analyst Ratings Changes

Several equities analysts have recently commented on SU shares. Royal Bank of Canada restated an “outperform” rating and issued a $66.00 target price on shares of Suncor Energy in a research report on Tuesday, January 7th. Desjardins upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a report on Tuesday, January 14th. Finally, Morgan Stanley cut Suncor Energy from an “overweight” rating to an “equal weight” rating in a report on Monday, December 16th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $58.00.

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.