Brown Advisory Inc. Sells 1,180,378 Shares of Suncor Energy Inc. (NYSE:SU)

Brown Advisory Inc. decreased its position in Suncor Energy Inc. (NYSE:SUGet Rating) (TSE:SU) by 30.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,731,706 shares of the oil and gas producer’s stock after selling 1,180,378 shares during the quarter. Brown Advisory Inc. owned approximately 0.19% of Suncor Energy worth $86,738,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in SU. Soroban Capital Partners LP bought a new position in Suncor Energy in the fourth quarter worth $110,774,000. Point72 Asset Management L.P. increased its holdings in shares of Suncor Energy by 251.4% during the fourth quarter. Point72 Asset Management L.P. now owns 5,821,706 shares of the oil and gas producer’s stock valued at $145,731,000 after acquiring an additional 4,165,006 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Suncor Energy by 1,802.9% during the first quarter. Assenagon Asset Management S.A. now owns 3,993,015 shares of the oil and gas producer’s stock valued at $130,132,000 after acquiring an additional 3,783,176 shares in the last quarter. CIBC Asset Management Inc increased its holdings in shares of Suncor Energy by 25.3% during the fourth quarter. CIBC Asset Management Inc now owns 15,438,157 shares of the oil and gas producer’s stock valued at $386,014,000 after acquiring an additional 3,115,081 shares in the last quarter. Finally, Alberta Investment Management Corp increased its holdings in shares of Suncor Energy by 79.5% during the fourth quarter. Alberta Investment Management Corp now owns 5,365,737 shares of the oil and gas producer’s stock valued at $134,446,000 after acquiring an additional 2,376,283 shares in the last quarter. Institutional investors own 58.48% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Royal Bank of Canada upgraded Suncor Energy from a “sector perform” rating to an “outperform” rating in a report on Tuesday, June 21st. TD Securities increased their price objective on Suncor Energy from C$51.00 to C$53.00 in a research report on Tuesday, May 10th. Raymond James cut Suncor Energy from an “outperform” rating to a “market perform” rating in a research report on Monday, July 11th. Scotiabank increased their price objective on Suncor Energy from C$46.00 to C$57.00 in a research report on Wednesday, June 8th. Finally, BMO Capital Markets increased their price objective on Suncor Energy from C$54.00 to C$60.00 in a research report on Thursday, June 9th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $51.38.

Suncor Energy Stock Performance

NYSE:SU opened at $30.28 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.18 and a quick ratio of 0.75. Suncor Energy Inc. has a 1 year low of $17.10 and a 1 year high of $42.72. The stock’s 50 day simple moving average is $35.05 and its two-hundred day simple moving average is $33.35. The company has a market cap of $41.79 billion, a price-to-earnings ratio of 8.85, a PEG ratio of 0.48 and a beta of 1.26.

Suncor Energy (NYSE:SUGet Rating) (TSE:SU) last released its quarterly earnings data on Monday, May 9th. The oil and gas producer reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.21. Suncor Energy had a return on equity of 15.69% and a net margin of 14.18%. The business had revenue of $10.65 billion for the quarter, compared to the consensus estimate of $9.18 billion. As a group, equities analysts anticipate that Suncor Energy Inc. will post 6.25 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 24th. Shareholders of record on Friday, June 3rd were paid a $0.3623 dividend. This is an increase from Suncor Energy’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Thursday, June 2nd. This represents a $1.45 dividend on an annualized basis and a yield of 4.79%. Suncor Energy’s payout ratio is presently 43.57%.

Suncor Energy Company Profile

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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, transports, refines, and markets crude oil in Canada and internationally; markets petroleum and petrochemical products under the Petro-Canada name primarily in Canada.

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Institutional Ownership by Quarter for Suncor Energy (NYSE:SU)

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