Jupiter Asset Management Ltd. Sells 78,011 Shares of Suncor Energy Inc. $SU

Jupiter Asset Management Ltd. lessened its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 4.0% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,861,534 shares of the oil and gas producer’s stock after selling 78,011 shares during the quarter. Jupiter Asset Management Ltd. owned about 0.15% of Suncor Energy worth $69,591,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mackenzie Financial Corp lifted its holdings in Suncor Energy by 18.6% during the 1st quarter. Mackenzie Financial Corp now owns 15,377,546 shares of the oil and gas producer’s stock worth $595,398,000 after purchasing an additional 2,410,857 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Suncor Energy by 83.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 12,426,008 shares of the oil and gas producer’s stock worth $481,135,000 after buying an additional 5,658,880 shares during the period. Acadian Asset Management LLC lifted its holdings in shares of Suncor Energy by 12,290.9% during the first quarter. Acadian Asset Management LLC now owns 12,418,784 shares of the oil and gas producer’s stock worth $480,760,000 after buying an additional 12,318,559 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Suncor Energy by 2.6% in the first quarter. Dimensional Fund Advisors LP now owns 11,272,827 shares of the oil and gas producer’s stock valued at $436,459,000 after acquiring an additional 290,900 shares during the period. Finally, Canada Pension Plan Investment Board boosted its position in shares of Suncor Energy by 27.6% in the first quarter. Canada Pension Plan Investment Board now owns 8,149,381 shares of the oil and gas producer’s stock valued at $315,597,000 after acquiring an additional 1,763,146 shares during the period. Institutional investors own 67.37% of the company’s stock.

Suncor Energy Price Performance

Shares of SU opened at $44.04 on Wednesday. Suncor Energy Inc. has a 12-month low of $30.79 and a 12-month high of $44.20. The business has a 50-day simple moving average of $40.91 and a two-hundred day simple moving average of $39.08. The company has a quick ratio of 0.77, a current ratio of 1.26 and a debt-to-equity ratio of 0.19. The stock has a market cap of $53.13 billion, a PE ratio of 13.55, a PEG ratio of 3.52 and a beta of 0.75.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings results on Tuesday, November 4th. The oil and gas producer reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.22. The firm had revenue of $9.04 billion during the quarter, compared to the consensus estimate of $8.82 billion. Suncor Energy had a net margin of 11.35% and a return on equity of 13.21%. During the same quarter last year, the firm earned $1.48 earnings per share. Analysts anticipate that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 24th. Investors of record on Wednesday, December 3rd will be paid a dividend of $0.60 per share. This is an increase from Suncor Energy’s previous quarterly dividend of $0.41. This represents a $2.40 annualized dividend and a yield of 5.4%. The ex-dividend date of this dividend is Wednesday, December 3rd. Suncor Energy’s payout ratio is 55.74%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on SU shares. Zacks Research lowered shares of Suncor Energy from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 15th. Wells Fargo & Company began coverage on Suncor Energy in a research note on Friday, October 17th. They issued an “equal weight” rating for the company. Royal Bank Of Canada restated an “outperform” rating and set a $65.00 price objective on shares of Suncor Energy in a research note on Friday, October 3rd. Raymond James Financial upgraded Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 6th. Finally, Weiss Ratings raised Suncor Energy from a “hold (c+)” rating to a “buy (b)” rating in a report on Friday. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Suncor Energy has a consensus rating of “Moderate Buy” and a consensus target price of $65.00.

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.