Bank of Nova Scotia Trust Co. reduced its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 4.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 652,248 shares of the oil and gas producer’s stock after selling 30,814 shares during the period. Suncor Energy makes up approximately 2.2% of Bank of Nova Scotia Trust Co.’s portfolio, making the stock its 12th largest position. Bank of Nova Scotia Trust Co.’s holdings in Suncor Energy were worth $19,045,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Financial Architects Inc increased its holdings in Suncor Energy by 1.4% in the second quarter. Financial Architects Inc now owns 6,806 shares of the oil and gas producer’s stock valued at $199,000 after buying an additional 93 shares in the last quarter. Gateway Investment Advisers LLC grew its position in shares of Suncor Energy by 0.7% in the second quarter. Gateway Investment Advisers LLC now owns 17,676 shares of the oil and gas producer’s stock valued at $516,000 after purchasing an additional 116 shares during the last quarter. Lincoln National Corp grew its position in shares of Suncor Energy by 1.9% in the second quarter. Lincoln National Corp now owns 25,046 shares of the oil and gas producer’s stock valued at $731,000 after purchasing an additional 463 shares during the last quarter. Evercore Wealth Management LLC grew its position in shares of Suncor Energy by 7.7% in the second quarter. Evercore Wealth Management LLC now owns 6,675 shares of the oil and gas producer’s stock valued at $195,000 after purchasing an additional 475 shares during the last quarter. Finally, UBS Asset Management Americas Inc. grew its position in shares of Suncor Energy by 13.7% in the second quarter. UBS Asset Management Americas Inc. now owns 4,658 shares of the oil and gas producer’s stock valued at $136,000 after purchasing an additional 562 shares during the last quarter. 64.05% of the stock is owned by hedge funds and other institutional investors.

Shares of Suncor Energy Inc. (NYSE:SU) traded up 0.63% during trading on Friday, hitting $35.03. 3,172,492 shares of the stock were exchanged. Suncor Energy Inc. has a 12-month low of $25.70 and a 12-month high of $35.16. The stock’s 50 day moving average is $32.34 and its 200-day moving average is $31.04. The stock has a market cap of $58.13 billion, a price-to-earnings ratio of 26.34 and a beta of 0.82.

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 25th. Stockholders of record on Tuesday, September 5th were paid a $0.2552 dividend. This represents a $1.02 dividend on an annualized basis and a dividend yield of 2.91%. This is a boost from Suncor Energy ‘s previous quarterly dividend of $0.24. The ex-dividend date was Thursday, August 31st. Suncor Energy ‘s payout ratio is presently 84.43%.

Several analysts have recently commented on the stock. Citigroup Inc. reiterated a “buy” rating on shares of Suncor Energy in a research report on Wednesday, August 2nd. BidaskClub lowered shares of Suncor Energy from a “hold” rating to a “sell” rating in a research report on Friday, August 18th. AltaCorp Capital lowered shares of Suncor Energy from an “outperform” rating to a “sector perform” rating in a research report on Friday, July 28th. Zacks Investment Research upgraded shares of Suncor Energy from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 12th. Finally, Barclays PLC restated an “overweight” rating and set a $52.00 target price (up previously from $47.00) on shares of Suncor Energy in a research report on Wednesday, July 12th. One analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Suncor Energy has a consensus rating of “Buy” and an average price target of $42.86.

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Suncor Energy Profile

Suncor Energy Inc (Suncor) is an integrated energy company. The Company is focused on developing Canada’s petroleum resource basin, Athabasca oil sands. The Company operates in three business segments: Oil Sands, Exploration and Production (E&P), and Refining and Marketing. The Company’s Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations.

Institutional Ownership by Quarter for Suncor Energy  (NYSE:SU)

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