Gradient Investments LLC Reduces Stake in Suncor Energy Inc. (NYSE:SU)

Gradient Investments LLC lessened its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 5.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 33,442 shares of the oil and gas producer’s stock after selling 1,754 shares during the quarter. Gradient Investments LLC’s holdings in Suncor Energy were worth $1,193,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Assenagon Asset Management S.A. increased its position in shares of Suncor Energy by 1,324.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 3,469,008 shares of the oil and gas producer’s stock valued at $123,774,000 after purchasing an additional 3,225,543 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Suncor Energy by 23.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,695,560 shares of the oil and gas producer’s stock valued at $357,827,000 after buying an additional 1,829,936 shares during the period. Principal Financial Group Inc. increased its holdings in Suncor Energy by 23.0% during the third quarter. Principal Financial Group Inc. now owns 6,939,573 shares of the oil and gas producer’s stock valued at $256,429,000 after buying an additional 1,296,142 shares during the last quarter. Fisher Asset Management LLC raised its position in Suncor Energy by 136.2% in the third quarter. Fisher Asset Management LLC now owns 1,891,781 shares of the oil and gas producer’s stock worth $69,845,000 after acquiring an additional 1,090,988 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Suncor Energy during the 3rd quarter worth $23,286,000. Institutional investors own 67.37% of the company’s stock.

Analysts Set New Price Targets

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

Suncor Energy Stock Down 1.2 %

Shares of SU opened at $38.93 on Friday. The business’s 50 day moving average is $38.05 and its 200 day moving average is $38.55. The company has a current ratio of 1.59, a quick ratio of 1.04 and a debt-to-equity ratio of 0.24. Suncor Energy Inc. has a 12-month low of $31.25 and a 12-month high of $41.94. The company has a market capitalization of $48.45 billion, a PE ratio of 8.48, a price-to-earnings-growth ratio of 3.29 and a beta of 1.12.

Suncor Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 3rd were given a dividend of $0.4089 per share. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $1.64 annualized dividend and a dividend yield of 4.20%. This is a boost from Suncor Energy’s previous quarterly dividend of $0.40. Suncor Energy’s dividend payout ratio (DPR) is presently 35.08%.

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.