Suncor Energy Inc. $SU Shares Sold by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd decreased its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 28.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 276,968 shares of the oil and gas producer’s stock after selling 109,140 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Suncor Energy were worth $18,293,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Atlantic Edge Private Wealth Management LLC increased its stake in Suncor Energy by 54.9% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 635 shares of the oil and gas producer’s stock valued at $28,000 after purchasing an additional 225 shares in the last quarter. Headlands Technologies LLC purchased a new stake in Suncor Energy during the second quarter worth $31,000. 1 North Wealth Services LLC acquired a new stake in Suncor Energy in the fourth quarter valued at $32,000. Accent Capital Management LLC grew its holdings in Suncor Energy by 37.5% in the fourth quarter. Accent Capital Management LLC now owns 825 shares of the oil and gas producer’s stock valued at $37,000 after purchasing an additional 225 shares during the last quarter. Finally, Maseco LLP acquired a new stake in Suncor Energy in the fourth quarter valued at $39,000. Institutional investors and hedge funds own 67.37% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SU. Royal Bank Of Canada lifted their price target on Suncor Energy from $75.00 to $89.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 1st. Scotiabank raised shares of Suncor Energy to a “strong-buy” rating in a research note on Friday, June 26th. The Goldman Sachs Group downgraded shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 target price for the company. in a report on Friday, June 5th. Weiss Ratings cut shares of Suncor Energy from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 14th. Finally, ATB Cormark Capital Markets upgraded shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, April 1st. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $71.67.

Suncor Energy Stock Performance

Suncor Energy stock opened at $62.45 on Monday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.92 and a current ratio of 1.42. The stock has a fifty day moving average of $61.11 and a two-hundred day moving average of $58.78. The company has a market capitalization of $73.73 billion, a price-to-earnings ratio of 16.39 and a beta of 0.30. Suncor Energy Inc. has a fifty-two week low of $37.76 and a fifty-two week high of $70.29.

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 (EPS) for the quarter, missing the consensus estimate of $1.45 by ($0.04). The company had revenue of $10.41 billion during the quarter, compared to analysts’ expectations 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 company earned $1.31 earnings per share. On average, analysts anticipate that Suncor Energy Inc. will post 6.9 EPS for the current fiscal year.

Suncor Energy Announces Dividend

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

About Suncor Energy

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.