Suncor Energy Inc. (NYSE:SU) Shares Bought by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. lifted its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 17.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 71,712 shares of the oil and gas producer’s stock after buying an additional 10,644 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Suncor Energy were worth $2,559,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Toronto Dominion Bank lifted its position in Suncor Energy by 1.8% in the third quarter. Toronto Dominion Bank now owns 18,546,207 shares of the oil and gas producer’s stock valued at $684,726,000 after acquiring an additional 333,440 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Suncor Energy by 4.5% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,132,812 shares of the oil and gas producer’s stock worth $361,227,000 after purchasing an additional 437,252 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Suncor Energy by 39.9% in the 4th quarter. Principal Financial Group Inc. now owns 9,706,616 shares of the oil and gas producer’s stock valued at $346,298,000 after purchasing an additional 2,767,043 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Suncor Energy by 7.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,891,596 shares of the oil and gas producer’s stock valued at $220,955,000 after purchasing an additional 413,797 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Suncor Energy by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,457,325 shares of the oil and gas producer’s stock worth $159,030,000 after buying an additional 99,669 shares during the last quarter. 67.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on SU shares. Morgan Stanley downgraded Suncor Energy from an “overweight” rating to an “equal weight” rating in a report on Monday, December 16th. Tudor, Pickering, Holt & Co. upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Monday, February 10th. StockNews.com lowered shares of Suncor Energy from a “buy” rating to a “hold” rating in a research note on Friday, March 14th. Tudor Pickering upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 10th. Finally, 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. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $58.00.

Suncor Energy Price Performance

Shares of SU opened at $37.48 on Thursday. The firm has a market capitalization of $46.37 billion, a PE ratio of 10.86, a P/E/G ratio of 2.94 and a beta of 1.11. The stock’s 50 day moving average is $38.27 and its two-hundred day moving average is $38.17. Suncor Energy Inc. has a twelve month low of $33.81 and a twelve month high of $41.95. The company has a current ratio of 1.33, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share for the quarter, topping 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%. Research analysts anticipate that Suncor Energy Inc. will post 3.42 earnings per share for the current year.

Suncor Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 4th will be issued a $0.399 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.26%. Suncor Energy’s dividend payout ratio is presently 45.51%.

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.