Guinness Asset Management LTD Decreases Position in Suncor Energy Inc. $SU

Guinness Asset Management LTD lowered its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 18.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 185,323 shares of the oil and gas producer’s stock after selling 40,689 shares during the period. Guinness Asset Management LTD’s holdings in Suncor Energy were worth $8,109,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of SU. Atlantic Edge Private Wealth Management LLC increased its stake in shares of Suncor Energy by 54.9% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 635 shares of the oil and gas producer’s stock worth $28,000 after purchasing an additional 225 shares during the last quarter. Headlands Technologies LLC purchased a new position in Suncor Energy in the 2nd quarter valued at approximately $31,000. Smartleaf Asset Management LLC grew its stake in Suncor Energy by 95.8% in the 3rd quarter. Smartleaf Asset Management LLC now owns 793 shares of the oil and gas producer’s stock valued at $33,000 after buying an additional 388 shares in the last quarter. Maseco LLP purchased a new position in Suncor Energy in the 4th quarter valued at approximately $39,000. Finally, Financial Consulate Inc. purchased a new position in Suncor Energy in the 4th quarter valued at approximately $45,000. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Suncor Energy Stock Down 0.6%

SU opened at $67.34 on Friday. The company has a fifty day moving average price of $64.86 and a 200-day moving average price of $54.22. The firm has a market capitalization of $79.52 billion, a P/E ratio of 17.68 and a beta of 0.31. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 0.92. Suncor Energy Inc. has a one year low of $34.99 and a one year high of $70.29.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 EPS for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. The firm had revenue of $10.41 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter last year, the firm earned $1.31 earnings per share. Equities research analysts expect that Suncor Energy Inc. will post 6.79 earnings per share for the current fiscal year.

Suncor Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Thursday, June 4th. Suncor Energy’s payout ratio is currently 46.19%.

Analyst Ratings Changes

A number of research firms recently weighed in on SU. Royal Bank Of Canada lifted their price objective on shares of Suncor Energy from $75.00 to $89.00 and gave the company an “outperform” rating in a research note on Wednesday, April 1st. Zacks Research upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 2nd. Wall Street Zen upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. ATB Cormark Capital Markets upgraded shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, April 1st. Finally, Weiss Ratings upgraded shares of Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $72.00.

Suncor Energy Profile

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company’s operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.