Suncor Energy Inc. $SU Holdings Decreased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company reduced its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 13.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,444,825 shares of the oil and gas producer’s stock after selling 2,236,798 shares during the period. Suncor Energy comprises approximately 0.8% of The Manufacturers Life Insurance Company’s holdings, making the stock its 15th largest holding. The Manufacturers Life Insurance Company’s holdings in Suncor Energy were worth $954,564,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. KCM Investment Advisors LLC bought a new stake in Suncor Energy during the first quarter valued at $244,000. Maverick Capital Ltd. acquired a new stake in shares of Suncor Energy during the first quarter worth $1,516,000. Quantinno Capital Management LP raised its holdings in shares of Suncor Energy by 15.9% during the first quarter. Quantinno Capital Management LP now owns 127,526 shares of the oil and gas producer’s stock worth $8,431,000 after purchasing an additional 17,460 shares during the period. Copley Financial Group Inc. bought a new position in shares of Suncor Energy in the 1st quarter worth about $210,000. Finally, SummitTX Capital L.P. lifted its position in shares of Suncor Energy by 8.8% in the 1st quarter. SummitTX Capital L.P. now owns 8,982 shares of the oil and gas producer’s stock worth $594,000 after buying an additional 729 shares during the last quarter. 67.37% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on SU shares. Zacks Research raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 6th. Wall Street Zen raised shares of Suncor Energy from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 12th. Weiss Ratings downgraded Suncor Energy from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 14th. Royal Bank Of Canada upped their target price on Suncor Energy from $75.00 to $89.00 and gave the company an “outperform” rating in a report on Wednesday, April 1st. Finally, Scotiabank upgraded Suncor Energy to a “strong-buy” rating in a research report on Friday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $71.67.

Suncor Energy Stock Down 2.8%

Suncor Energy stock opened at $63.99 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.92 and a current ratio of 1.42. Suncor Energy Inc. has a one year low of $37.76 and a one year high of $70.29. The company has a 50-day simple moving average of $60.80 and a 200-day simple moving average of $59.61. The firm has a market capitalization of $75.56 billion, a P/E ratio of 16.80, a P/E/G ratio of 0.49 and a beta of 0.30.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share for the quarter, missing the consensus estimate of $1.45 by ($0.04). The firm had revenue of $10.41 billion during the quarter, compared to the consensus estimate of $9.22 billion. Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. During the same quarter in the prior year, the business earned $1.31 earnings per share. As a group, equities analysts expect that Suncor Energy Inc. will post 7.11 earnings per share for the current year.

Suncor Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th were paid a $0.60 dividend. The ex-dividend date was Thursday, June 4th. This represents a $2.40 annualized dividend and a dividend yield of 3.8%. Suncor Energy’s dividend payout ratio (DPR) is presently 45.67%.

Suncor Energy Profile

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company’s operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.