Guinness Asset Management LTD Sells 50,831 Shares of Suncor Energy Inc. (NYSE:SU)

Guinness Asset Management LTD lessened its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 13.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 337,091 shares of the oil and gas producer’s stock after selling 50,831 shares during the period. Guinness Asset Management LTD’s holdings in Suncor Energy were worth $11,990,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. increased its stake in Suncor Energy by 1,324.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 3,469,008 shares of the oil and gas producer’s stock valued at $123,774,000 after purchasing an additional 3,225,543 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Suncor Energy by 23.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,695,560 shares of the oil and gas producer’s stock worth $357,827,000 after acquiring an additional 1,829,936 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Suncor Energy by 23.0% during the third quarter. Principal Financial Group Inc. now owns 6,939,573 shares of the oil and gas producer’s stock worth $256,429,000 after purchasing an additional 1,296,142 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Suncor Energy by 5.1% in the second quarter. The Manufacturers Life Insurance Company now owns 25,134,149 shares of the oil and gas producer’s stock valued at $956,850,000 after purchasing an additional 1,209,073 shares during the last quarter. Finally, Merewether Investment Management LP acquired a new stake in Suncor Energy during the 2nd quarter worth about $42,268,000. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Desjardins raised Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Royal Bank of Canada reissued an “outperform” rating and set a $66.00 price target on shares of Suncor Energy in a report on Tuesday, January 7th. Morgan Stanley downgraded shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 16th. Finally, StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a report on Tuesday, January 14th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $58.00.

Suncor Energy Trading Down 0.1 %

SU stock opened at $39.02 on Monday. The business’s 50-day moving average is $38.07 and its 200 day moving average is $38.52. Suncor Energy Inc. has a 12-month low of $31.03 and a 12-month high of $41.94. The stock has a market cap of $48.57 billion, a price-to-earnings ratio of 8.50, a PEG ratio of 3.38 and a beta of 1.12. The company has a current ratio of 1.59, a quick ratio of 1.04 and a debt-to-equity ratio of 0.24.

Suncor Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 24th. Investors of record on Tuesday, December 3rd were paid a $0.4089 dividend. This is an increase from Suncor Energy’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a yield of 4.19%. The ex-dividend date of this dividend was Tuesday, December 3rd. Suncor Energy’s dividend payout ratio is currently 35.08%.

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.