ING Groep NV lessened its stake in Suncor Energy (NYSE:SU) (TSE:SU) by 7.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 25,470 shares of the oil and gas producer’s stock after selling 2,035 shares during the period. ING Groep NV’s holdings in Suncor Energy were worth $880,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SU. Mackenzie Financial Corp grew its position in shares of Suncor Energy by 139.2% in the 4th quarter. Mackenzie Financial Corp now owns 4,707,475 shares of the oil and gas producer’s stock valued at $172,858,000 after buying an additional 2,739,650 shares during the last quarter. APG Asset Management N.V. boosted its position in shares of Suncor Energy by 53.9% during the 4th quarter. APG Asset Management N.V. now owns 7,248,085 shares of the oil and gas producer’s stock valued at $222,332,000 after purchasing an additional 2,537,800 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Suncor Energy by 19.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 15,055,215 shares of the oil and gas producer’s stock valued at $552,828,000 after purchasing an additional 2,495,585 shares in the last quarter. Picton Mahoney Asset Management bought a new stake in shares of Suncor Energy during the 4th quarter valued at about $69,523,000. Finally, Brown Advisory Inc. boosted its position in shares of Suncor Energy by 303.8% during the 4th quarter. Brown Advisory Inc. now owns 1,664,244 shares of the oil and gas producer’s stock valued at $61,111,000 after purchasing an additional 1,252,072 shares in the last quarter. Hedge funds and other institutional investors own 65.51% of the company’s stock.
Get Suncor Energy alerts:
Several equities research analysts recently commented on SU shares. Zacks Investment Research upgraded Suncor Energy from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research report on Saturday, January 20th. Piper Jaffray restated a “buy” rating and set a $47.00 target price on shares of Suncor Energy in a research report on Wednesday, January 24th. JPMorgan Chase upgraded Suncor Energy from a “neutral” rating to an “overweight” rating in a research report on Friday, February 9th. TD Securities upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research report on Friday, February 9th. Finally, UBS started coverage on Suncor Energy in a research report on Wednesday, March 7th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have given a buy rating to the company. Suncor Energy currently has a consensus rating of “Buy” and an average price target of $47.38.
Shares of Suncor Energy opened at $40.97 on Friday, Marketbeat.com reports. The company has a market capitalization of $67.67 billion, a price-to-earnings ratio of 25.88, a PEG ratio of 1.82 and a beta of 0.80. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.55 and a current ratio of 0.89. Suncor Energy has a 52-week low of $27.96 and a 52-week high of $41.74.
The company also recently declared a quarterly dividend, which will be paid on Monday, June 25th. Shareholders of record on Monday, June 4th will be issued a $0.2797 dividend. The ex-dividend date is Friday, June 1st. This represents a $1.12 annualized dividend and a yield of 2.73%. Suncor Energy’s payout ratio is currently 76.16%.
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.
Want to see what other hedge funds are holding SU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Suncor Energy (NYSE:SU) (TSE:SU).
