Highstreet Asset Management Inc. lessened its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 23.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,644,560 shares of the oil and gas producer’s stock after selling 493,652 shares during the period. Suncor Energy comprises about 3.1% of Highstreet Asset Management Inc.’s holdings, making the stock its 9th biggest position. Highstreet Asset Management Inc.’s holdings in Suncor Energy were worth $53,299,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Bluestein R H & Co. boosted its position in Suncor Energy by 38.9% during the first quarter. Bluestein R H & Co. now owns 25,000 shares of the oil and gas producer’s stock worth $811,000 after purchasing an additional 7,000 shares during the period. NumerixS Investment Technologies Inc bought a new position in Suncor Energy during the first quarter worth about $442,000. Zions Bancorporation N.A. bought a new position in Suncor Energy during the first quarter worth about $38,000. Northwestern Mutual Wealth Management Co. boosted its position in Suncor Energy by 27.3% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 7,895 shares of the oil and gas producer’s stock worth $256,000 after purchasing an additional 1,691 shares during the period. Finally, Intact Investment Management Inc. boosted its position in Suncor Energy by 18.6% during the first quarter. Intact Investment Management Inc. now owns 1,047,016 shares of the oil and gas producer’s stock worth $45,336,000 after purchasing an additional 164,200 shares during the period. Institutional investors and hedge funds own 65.11% of the company’s stock.
A number of equities analysts have recently commented on the stock. Mizuho restated an “average” rating and issued a $52.00 price objective on shares of Suncor Energy in a research report on Monday, April 22nd. Credit Suisse Group upgraded shares of Suncor Energy from a “neutral” rating to an “outperform” rating in a research report on Thursday, March 14th. Macquarie upgraded shares of Suncor Energy from a “neutral” rating to an “outperform” rating and set a $33.30 price objective for the company in a research report on Thursday, February 7th. GMP Securities restated a “hold” rating and issued a $47.00 price objective on shares of Suncor Energy in a research report on Thursday, February 7th. Finally, TheStreet lowered shares of Suncor Energy from a “b-” rating to a “c+” rating in a research report on Monday, February 11th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $47.48.
SU stock opened at $30.80 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.88 and a quick ratio of 0.56. Suncor Energy Inc. has a 12 month low of $25.81 and a 12 month high of $42.55. The company has a market capitalization of $48.78 billion, a PE ratio of 15.40, a PEG ratio of 1.74 and a beta of 1.16.
Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings data on Wednesday, May 1st. The oil and gas producer reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.38. Suncor Energy had a net margin of 10.03% and a return on equity of 10.06%. The company had revenue of $7.07 billion during the quarter, compared to analyst estimates of $7.06 billion. During the same period last year, the business earned $0.60 earnings per share. Equities research analysts predict that Suncor Energy Inc. will post 2.55 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Tuesday, June 4th will be given a dividend of $0.3121 per share. The ex-dividend date is Monday, June 3rd. This represents a $1.25 annualized dividend and a yield of 4.05%. Suncor Energy’s payout ratio is presently 63.50%.
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Suncor Energy Company Profile
Suncor Energy Inc operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada's Athabasca oil sands; explores, acquires, develops, produces, and markets crude oil and natural gas in Canada and internationally; transports and refines crude oil; markets petroleum and petrochemical products primarily in Canada.
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