Suncor Energy Inc. (NYSE:SU) Shares Bought by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. grew its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 17.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 71,712 shares of the oil and gas producer’s stock after purchasing an additional 10,644 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Suncor Energy were worth $2,559,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Toronto Dominion Bank raised its holdings in Suncor Energy by 1.8% in the 3rd quarter. Toronto Dominion Bank now owns 18,546,207 shares of the oil and gas producer’s stock valued at $684,726,000 after buying an additional 333,440 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Suncor Energy by 4.5% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,132,812 shares of the oil and gas producer’s stock valued at $361,227,000 after acquiring an additional 437,252 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Suncor Energy by 39.9% in the 4th quarter. Principal Financial Group Inc. now owns 9,706,616 shares of the oil and gas producer’s stock worth $346,298,000 after acquiring an additional 2,767,043 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Suncor Energy by 7.6% during the 3rd quarter. Geode Capital Management LLC now owns 5,891,596 shares of the oil and gas producer’s stock worth $220,955,000 after purchasing an additional 413,797 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Suncor Energy by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,457,325 shares of the oil and gas producer’s stock valued at $159,030,000 after purchasing an additional 99,669 shares during the last quarter. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Morgan Stanley cut Suncor Energy from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 16th. Tudor, Pickering, Holt & Co. raised Suncor Energy from a “hold” rating to a “buy” rating in a research note on Monday, February 10th. Cibc World Mkts raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 11th. Tudor Pickering upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 10th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $66.00 price objective on shares of Suncor Energy in a research note on Tuesday, January 7th. Five analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $58.00.

Suncor Energy Stock Down 0.3 %

SU stock opened at $37.48 on Thursday. The company’s 50 day moving average price is $38.27 and its 200 day moving average price is $38.17. The firm has a market capitalization of $46.37 billion, a price-to-earnings ratio of 10.86, a PEG ratio of 2.94 and a beta of 1.11. 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 quick ratio of 0.86 and a current ratio of 1.33.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Wednesday, February 5th. The oil and gas producer reported $0.89 EPS for the quarter, beating 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%. On average, equities research analysts anticipate that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 4th will be issued a dividend of $0.399 per share. This represents a $1.60 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date of this dividend is Tuesday, March 4th. Suncor Energy’s dividend payout ratio (DPR) is 45.51%.

About Suncor Energy

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.