Suncor Energy Inc. (NYSE:SU) Shares Sold by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC trimmed its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 3.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,978 shares of the oil and gas producer’s stock after selling 340 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Suncor Energy were worth $405,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the business. Johnson Financial Group Inc. acquired a new position in Suncor Energy during the fourth quarter worth $25,000. Richardson Financial Services Inc. acquired a new position in Suncor Energy during the fourth quarter worth $25,000. Adirondack Trust Co. raised its holdings in Suncor Energy by 45.6% during the fourth quarter. Adirondack Trust Co. now owns 1,000 shares of the oil and gas producer’s stock worth $34,000 after purchasing an additional 313 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in Suncor Energy by 43.2% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,038 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 313 shares during the last quarter. Finally, Headinvest LLC purchased a new position in Suncor Energy during the third quarter worth $40,000. 67.37% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SU has been the subject of several recent research reports. Raymond James raised Suncor Energy to a “hold” rating in a research report on Tuesday, May 28th. The Goldman Sachs Group raised their price target on Suncor Energy from $38.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Morgan Stanley raised their price target on Suncor Energy from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. TD Securities raised their price target on Suncor Energy from $52.00 to $57.00 and gave the stock a “hold” rating in a research report on Wednesday, May 22nd. Finally, StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a research report on Monday. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Suncor Energy presently has a consensus rating of “Moderate Buy” and an average target price of $51.67.

Suncor Energy Price Performance

Shares of Suncor Energy stock opened at $37.31 on Thursday. Suncor Energy Inc. has a twelve month low of $28.26 and a twelve month high of $41.50. The stock has a market capitalization of $47.81 billion, a P/E ratio of 8.31, a PEG ratio of 3.58 and a beta of 1.11. The company has a current ratio of 1.51, a quick ratio of 0.97 and a debt-to-equity ratio of 0.25. The business’s fifty day moving average price is $38.79 and its 200 day moving average price is $35.62.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its earnings results on Tuesday, May 7th. The oil and gas producer reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.15. Suncor Energy had a return on equity of 15.69% and a net margin of 15.38%. The firm had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $8.64 billion. As a group, research analysts anticipate that Suncor Energy Inc. will post 3.52 earnings per share for the current year.

Suncor Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 25th. Investors of record on Tuesday, June 4th were issued a $0.395 dividend. This represents a $1.58 dividend on an annualized basis and a yield of 4.24%. The ex-dividend date of this dividend was Tuesday, June 4th. Suncor Energy’s payout ratio is currently 35.19%.

About Suncor Energy

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.