Cidel Asset Management Inc. trimmed its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 1.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,166,573 shares of the oil and gas producer’s stock after selling 44,412 shares during the period. Suncor Energy makes up approximately 5.0% of Cidel Asset Management Inc.’s investment portfolio, making the stock its 6th largest position. Cidel Asset Management Inc.’s holdings in Suncor Energy were worth $116,250,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of SU. Thornburg Investment Management Inc. acquired a new position in Suncor Energy during the third quarter valued at $136,771,000. APG Asset Management N.V. raised its position in Suncor Energy by 53.9% during the fourth 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 buying an additional 2,537,800 shares during the period. The Manufacturers Life Insurance Company raised its position in Suncor Energy by 19.9% during the fourth 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 buying an additional 2,495,585 shares during the period. Check Capital Management Inc. CA increased its position in Suncor Energy by 95.8% in the 3rd quarter. Check Capital Management Inc. CA now owns 4,094,299 shares of the oil and gas producer’s stock worth $143,423,000 after purchasing an additional 2,002,773 shares during the last quarter. Finally, Picton Mahoney Asset Management acquired a new position in Suncor Energy in the 4th quarter worth about $69,523,000. 65.69% of the stock is currently owned by hedge funds and other institutional investors.
SU has been the topic of several research reports. Canaccord Genuity reaffirmed a “buy” rating and issued a $51.00 target price on shares of Suncor Energy in a research report on Thursday, October 26th. Edward Jones raised Suncor Energy from a “hold” rating to a “buy” rating in a research report on Monday, November 20th. Zacks Investment Research raised 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. AltaCorp Capital reaffirmed a “hold” rating and issued a $51.00 target price on shares of Suncor Energy in a research report on Monday, January 15th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $47.00 target price on shares of Suncor Energy in a research report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Suncor Energy currently has an average rating of “Buy” and an average price target of $46.67.
The business also recently declared a quarterly dividend, which will be paid on Monday, March 26th. Stockholders of record on Monday, March 5th will be paid a dividend of $0.286 per share. This represents a $1.14 annualized dividend and a dividend yield of 3.37%. The ex-dividend date of this dividend is Friday, March 2nd. This is an increase from Suncor Energy’s previous quarterly dividend of $0.25. Suncor Energy’s dividend payout ratio is 46.98%.
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About Suncor Energy
Suncor Energy Inc is a Canada-based integrated energy company. The Company is focused on developing Canada’s petroleum resource basin, Athabasca oil sands. The Company operates in three business segments: Oil Sands, Exploration and Production (E&P), and Refining and Marketing. The Company’s Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations.
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