Addenda Capital Inc. Trims Holdings in Suncor Energy Inc. (NYSE:SU)

Addenda Capital Inc. lowered its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 9.3% in the first quarter, HoldingsChannel.com reports. The firm owned 883,469 shares of the oil and gas producer’s stock after selling 90,614 shares during the period. Suncor Energy accounts for approximately 1.5% of Addenda Capital Inc.’s portfolio, making the stock its 20th largest holding. Addenda Capital Inc.’s holdings in Suncor Energy were worth $32,609,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in SU. Johnson Financial Group Inc. acquired a new stake in shares of Suncor Energy during the fourth quarter worth about $25,000. Richardson Financial Services Inc. purchased a new position in Suncor Energy in the 4th quarter valued at approximately $25,000. Benjamin F. Edwards & Company Inc. grew its stake in shares of Suncor Energy by 43.2% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,038 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 313 shares in the last quarter. Adirondack Trust Co. increased its position in shares of Suncor Energy by 45.6% during the fourth quarter. Adirondack Trust Co. now owns 1,000 shares of the oil and gas producer’s stock worth $34,000 after acquiring an additional 313 shares during the period. Finally, V Square Quantitative Management LLC acquired a new stake in shares of Suncor Energy in the fourth quarter valued at $38,000. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Stock Up 0.2 %

Suncor Energy stock traded up $0.09 during mid-day trading on Friday, hitting $38.11. The company had a trading volume of 3,880,395 shares, compared to its average volume of 4,691,333. The company has a quick ratio of 0.97, a current ratio of 1.51 and a debt-to-equity ratio of 0.25. Suncor Energy Inc. has a 1 year low of $28.26 and a 1 year high of $41.50. The business has a fifty day moving average of $38.76 and a 200 day moving average of $35.70. The stock has a market cap of $48.83 billion, a price-to-earnings ratio of 8.49, a PEG ratio of 3.54 and a beta of 1.11.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its earnings results on Tuesday, May 7th. The oil and gas producer reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.15. Suncor Energy had a net margin of 15.38% and a return on equity of 15.69%. The firm had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $8.64 billion. On average, sell-side analysts expect that Suncor Energy Inc. will post 3.52 earnings per share for the current fiscal year.

Suncor Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 25th. Stockholders of record on Tuesday, June 4th were issued a $0.395 dividend. This represents a $1.58 annualized dividend and a dividend yield of 4.15%. The ex-dividend date of this dividend was Tuesday, June 4th. Suncor Energy’s payout ratio is currently 35.19%.

Analysts Set New Price Targets

Several research analysts recently commented on SU shares. StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a research note on Monday. The Goldman Sachs Group boosted their price objective on Suncor Energy from $38.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. TD Securities raised their target price on shares of Suncor Energy from $52.00 to $57.00 and gave the company a “hold” rating in a report on Wednesday, May 22nd. Morgan Stanley boosted their price target on shares of Suncor Energy from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Finally, Raymond James upgraded shares of Suncor Energy to a “hold” rating in a report on Tuesday, May 28th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $51.67.

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.