TD Asset Management Inc. Sells 1,137,583 Shares of Suncor Energy Inc. (NYSE:SU)

TD Asset Management Inc. decreased its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 4.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,525,431 shares of the oil and gas producer’s stock after selling 1,137,583 shares during the period. Suncor Energy accounts for about 0.9% of TD Asset Management Inc.’s holdings, making the stock its 23rd biggest holding. TD Asset Management Inc. owned 2.21% of Suncor Energy worth $982,012,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in SU. Sanctuary Advisors LLC lifted its holdings in Suncor Energy by 32.3% in the third quarter. Sanctuary Advisors LLC now owns 82,204 shares of the oil and gas producer’s stock valued at $3,035,000 after buying an additional 20,081 shares during the period. Jones Financial Companies Lllp raised its position in shares of Suncor Energy by 86.0% in the 4th quarter. Jones Financial Companies Lllp now owns 67,848 shares of the oil and gas producer’s stock worth $2,421,000 after acquiring an additional 31,366 shares in the last quarter. Sage Investment Counsel LLC acquired a new position in shares of Suncor Energy in the 4th quarter valued at about $300,000. J.W. Cole Advisors Inc. bought a new stake in shares of Suncor Energy during the 4th quarter valued at about $236,000. Finally, Bank of New York Mellon Corp grew its stake in Suncor Energy by 104.2% during the fourth quarter. Bank of New York Mellon Corp now owns 3,083,440 shares of the oil and gas producer’s stock worth $110,017,000 after purchasing an additional 1,573,726 shares during the period. 67.37% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Cibc World Mkts upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 11th. Tudor Pickering upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 10th. Tudor, Pickering, Holt & Co. upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Monday, February 10th. Scotiabank raised shares of Suncor Energy to a “hold” rating in a research note on Wednesday, March 19th. Finally, StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Saturday. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $58.00.

Suncor Energy Price Performance

Shares of NYSE SU opened at $38.41 on Tuesday. The stock has a market cap of $47.52 billion, a price-to-earnings ratio of 11.13, a PEG ratio of 2.94 and a beta of 1.11. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.33. Suncor Energy Inc. has a fifty-two week low of $33.81 and a fifty-two week high of $41.95. The firm’s 50-day simple moving average is $38.20 and its 200 day simple moving average is $38.14.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.07. Suncor Energy had a return on equity of 15.37% and a net margin of 11.80%. As a group, research analysts anticipate that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 4th will be issued a dividend of $0.399 per share. This represents a $1.60 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date is Tuesday, March 4th. Suncor Energy’s dividend payout ratio is 45.51%.

Suncor Energy Company 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.