CANADA LIFE ASSURANCE Co Cuts Position in Suncor Energy Inc. (NYSE:SU)

CANADA LIFE ASSURANCE Co trimmed its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 7.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 229,281 shares of the oil and gas producer’s stock after selling 17,524 shares during the period. CANADA LIFE ASSURANCE Co’s holdings in Suncor Energy were worth $8,156,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SU. Assenagon Asset Management S.A. lifted its holdings in shares of Suncor Energy by 1,324.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,469,008 shares of the oil and gas producer’s stock worth $123,774,000 after purchasing an additional 3,225,543 shares during the period. Principal Financial Group Inc. increased its position in Suncor Energy by 39.9% during the fourth quarter. Principal Financial Group Inc. now owns 9,706,616 shares of the oil and gas producer’s stock worth $346,298,000 after buying an additional 2,767,043 shares in the last quarter. Jupiter Asset Management Ltd. raised its stake in Suncor Energy by 2,061.8% in the 4th quarter. Jupiter Asset Management Ltd. now owns 2,438,291 shares of the oil and gas producer’s stock valued at $86,990,000 after purchasing an additional 2,325,503 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of Suncor Energy by 97.4% in the fourth quarter. Fisher Asset Management LLC now owns 3,734,572 shares of the oil and gas producer’s stock valued at $133,250,000 after buying an additional 1,842,791 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Suncor Energy by 29.5% in the fourth quarter. Geode Capital Management LLC now owns 7,629,169 shares of the oil and gas producer’s stock valued at $278,537,000 after purchasing an additional 1,737,573 shares during the period. 67.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Royal Bank of Canada reissued an “outperform” rating and set a $66.00 price target on shares of Suncor Energy in a research report on Tuesday, January 7th. Tudor Pickering upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 10th. StockNews.com lowered Suncor Energy from a “buy” rating to a “hold” rating in a research report on Thursday, April 17th. Bank of America began coverage on shares of Suncor Energy in a research report on Wednesday, February 26th. They set a “neutral” rating on the stock. Finally, Cibc World Mkts raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 11th. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $59.20.

Suncor Energy Stock Up 2.4 %

Shares of SU opened at $35.40 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 0.21. The company has a 50-day moving average price of $36.48 and a two-hundred day moving average price of $37.78. The stock has a market cap of $43.79 billion, a price-to-earnings ratio of 10.26, a P/E/G ratio of 2.94 and a beta of 0.79. Suncor Energy Inc. has a 12 month low of $30.79 and a 12 month high of $41.95.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 EPS for the quarter, topping the consensus estimate of $0.82 by $0.07. Suncor Energy had a return on equity of 15.37% and a net margin of 11.80%. Equities analysts predict that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 4th were issued a $0.399 dividend. This represents a $1.60 annualized dividend and a dividend yield of 4.51%. The ex-dividend date of this dividend was Tuesday, March 4th. Suncor Energy’s payout ratio is 45.51%.

Suncor Energy Company 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.