Stock Yards Bank & Trust Co. Sells 11,194 Shares of Suncor Energy Inc. (NYSE:SU)

Stock Yards Bank & Trust Co. trimmed its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 11.1% in the first quarter, HoldingsChannel reports. The firm owned 89,354 shares of the oil and gas producer’s stock after selling 11,194 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Suncor Energy were worth $3,460,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Suncor Energy by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 53,019,357 shares of the oil and gas producer’s stock worth $1,892,526,000 after purchasing an additional 323,714 shares during the period. Artisan Partners Limited Partnership boosted its position in Suncor Energy by 0.7% during the fourth quarter. Artisan Partners Limited Partnership now owns 24,289,019 shares of the oil and gas producer’s stock worth $865,885,000 after purchasing an additional 169,700 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Suncor Energy by 0.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 23,308,055 shares of the oil and gas producer’s stock worth $831,631,000 after purchasing an additional 209,447 shares during the period. Toronto Dominion Bank boosted its position in Suncor Energy by 3.0% during the fourth quarter. Toronto Dominion Bank now owns 19,098,225 shares of the oil and gas producer’s stock worth $680,847,000 after purchasing an additional 552,018 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Suncor Energy by 4.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 10,981,927 shares of the oil and gas producer’s stock valued at $391,809,000 after acquiring an additional 445,613 shares during the period. 67.37% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Wall Street Zen cut shares of Suncor Energy from a “buy” rating to a “hold” rating in a research report on Thursday, April 17th. Scotiabank raised Suncor Energy to a “hold” rating in a research note on Wednesday, March 19th. Finally, Bank of America assumed coverage on Suncor Energy in a research note on Wednesday, February 26th. They set a “neutral” rating for the company. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $64.67.

Suncor Energy Stock Performance

Suncor Energy stock opened at $40.92 on Friday. The company has a market capitalization of $50.25 billion, a P/E ratio of 11.86, a P/E/G ratio of 2.94 and a beta of 0.79. The business has a 50 day moving average of $35.50 and a 200-day moving average of $36.92. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.33 and a quick ratio of 0.86. Suncor Energy Inc. has a 1 year low of $30.79 and a 1 year high of $41.95.

Suncor Energy (NYSE:SU) (TSE:SU) last released its earnings results on Tuesday, May 6th. The oil and gas producer reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. The business had revenue of $9.10 billion during the quarter, compared to the consensus estimate of $13.39 billion. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. During the same quarter in the prior year, the firm posted $1.41 EPS. On average, equities research analysts predict that Suncor Energy Inc. will post 3.42 earnings per share for the current year.

Suncor Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Wednesday, June 4th will be given a dividend of $0.4133 per share. This represents a $1.65 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date is Wednesday, June 4th. This is an increase from Suncor Energy’s previous quarterly dividend of $0.40. Suncor Energy’s dividend payout ratio is currently 47.55%.

Suncor Energy Company 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.