Mufg Securities Canada LTD. Has $68.48 Million Stock Position in Suncor Energy Inc. (NYSE:SU)

Mufg Securities Canada LTD. boosted its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 70.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,919,654 shares of the oil and gas producer’s stock after buying an additional 792,130 shares during the quarter. Suncor Energy makes up about 2.5% of Mufg Securities Canada LTD.’s holdings, making the stock its 14th biggest position. Mufg Securities Canada LTD.’s holdings in Suncor Energy were worth $68,477,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of SU. Zions Bancorporation N.A. grew its position in shares of Suncor Energy by 38.3% in the fourth quarter. Zions Bancorporation N.A. now owns 32,862 shares of the oil and gas producer’s stock valued at $1,173,000 after purchasing an additional 9,101 shares during the last quarter. Segall Bryant & Hamill LLC boosted its stake in Suncor Energy by 10.7% during the 4th quarter. Segall Bryant & Hamill LLC now owns 360,039 shares of the oil and gas producer’s stock valued at $12,846,000 after purchasing an additional 34,734 shares during the period. Prudential Financial Inc. grew its holdings in Suncor Energy by 68.8% in the 4th quarter. Prudential Financial Inc. now owns 111,222 shares of the oil and gas producer’s stock valued at $3,968,000 after buying an additional 45,340 shares during the last quarter. Crowley Wealth Management Inc. bought a new position in Suncor Energy in the 4th quarter worth approximately $35,000. Finally, Vanguard Group Inc. lifted its holdings in shares of 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 buying an additional 323,714 shares during the last quarter. Institutional investors own 67.37% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on SU shares. Morgan Stanley lowered shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 16th. Bank of America assumed coverage on shares of Suncor Energy in a research report on Wednesday, February 26th. They set a “neutral” rating for the company. StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a research report on Saturday. Tudor, Pickering, Holt & Co. raised Suncor Energy from a “hold” rating to a “buy” rating in a report on Monday, February 10th. Finally, Cibc World Mkts raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 11th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $58.00.

Suncor Energy Stock Performance

Shares of NYSE:SU opened at $38.44 on Wednesday. The stock has a market capitalization of $47.56 billion, a price-to-earnings ratio of 11.14, a price-to-earnings-growth ratio of 2.94 and a beta of 1.11. The business’s fifty day moving average price is $38.18 and its two-hundred day moving average price is $38.14. Suncor Energy Inc. has a fifty-two week low of $33.81 and a fifty-two week high of $41.95. 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 (NYSE:SU) (TSE:SU) last announced its earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.07. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. As a group, analysts predict that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 4th were issued a $0.399 dividend. This represents a $1.60 annualized dividend and a dividend yield of 4.15%. The ex-dividend date of this dividend was Tuesday, March 4th. Suncor Energy’s payout ratio is currently 45.51%.

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.