Fiera Capital Corp Decreases Stock Position in Suncor Energy Inc. $SU

Fiera Capital Corp trimmed its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 17.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,592,115 shares of the oil and gas producer’s stock after selling 327,841 shares during the quarter. Fiera Capital Corp owned 0.13% of Suncor Energy worth $59,602,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Acadian Asset Management LLC lifted its holdings in shares of Suncor Energy by 12,290.9% in the 1st quarter. Acadian Asset Management LLC now owns 12,418,784 shares of the oil and gas producer’s stock worth $480,760,000 after acquiring an additional 12,318,559 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Suncor Energy by 83.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 12,426,008 shares of the oil and gas producer’s stock worth $481,135,000 after purchasing an additional 5,658,880 shares during the period. Nuveen LLC bought a new stake in Suncor Energy in the first quarter worth about $126,048,000. Mackenzie Financial Corp lifted its stake in Suncor Energy by 18.6% in the first quarter. Mackenzie Financial Corp now owns 15,377,546 shares of the oil and gas producer’s stock worth $595,398,000 after purchasing an additional 2,410,857 shares during the last quarter. Finally, AustralianSuper Pty Ltd boosted its position in shares of Suncor Energy by 1,025.0% during the first quarter. AustralianSuper Pty Ltd now owns 2,149,643 shares of the oil and gas producer’s stock valued at $83,248,000 after buying an additional 1,958,570 shares during the period. Institutional investors own 67.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on SU shares. Zacks Research downgraded Suncor Energy from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 15th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $65.00 price objective on shares of Suncor Energy in a research report on Friday, October 3rd. Weiss Ratings upgraded Suncor Energy from a “hold (c+)” rating to a “buy (b)” rating in a research note on Friday, November 7th. Wells Fargo & Company started coverage on Suncor Energy in a research report on Friday, October 17th. They set an “equal weight” rating for the company. Finally, Raymond James Financial upgraded shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Thursday, November 6th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $65.00.

Suncor Energy Stock Performance

Shares of SU stock opened at $44.20 on Thursday. The firm has a market cap of $53.32 billion, a price-to-earnings ratio of 13.60, a PEG ratio of 3.52 and a beta of 0.75. Suncor Energy Inc. has a 52-week low of $30.79 and a 52-week high of $44.51. The company has a quick ratio of 0.77, a current ratio of 1.26 and a debt-to-equity ratio of 0.19. The company’s 50 day moving average is $40.98 and its 200 day moving average is $39.12.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its earnings results on Tuesday, November 4th. The oil and gas producer reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.22. Suncor Energy had a return on equity of 13.21% and a net margin of 11.35%.The company had revenue of $9.04 billion during the quarter, compared to analyst estimates of $8.82 billion. During the same quarter in the prior year, the business earned $1.48 earnings per share. On average, sell-side analysts anticipate that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 24th. Shareholders of record on Wednesday, December 3rd will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 5.4%. This is a boost from Suncor Energy’s previous quarterly dividend of $0.41. The ex-dividend date is Wednesday, December 3rd. Suncor Energy’s payout ratio is presently 55.74%.

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.