First Trust Advisors LP Sells 150,503 Shares of Suncor Energy Inc. (NYSE:SU)

First Trust Advisors LP lessened its holdings in Suncor Energy Inc. (NYSE:SU – Get Rating) (TSE:SU) by 25.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 452,344 shares of the oil and gas producer’s stock after selling 150,503 shares during the quarter. First Trust Advisors LP’s holdings in Suncor Energy were worth $12,727,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Ronald Blue Trust Inc. bought a new position in Suncor Energy in the 2nd quarter valued at approximately $34,000. SeaCrest Wealth Management LLC bought a new position in Suncor Energy during the 2nd quarter worth approximately $39,000. CoreCap Advisors LLC bought a new position in Suncor Energy during the 2nd quarter worth approximately $44,000. Thomas J. Herzfeld Advisors Inc. bought a new position in Suncor Energy during the 3rd quarter worth approximately $40,000. Finally, Achmea Investment Management B.V. bought a new position in Suncor Energy during the 1st quarter worth approximately $68,000. Institutional investors own 58.04% of the company’s stock.

Suncor Energy Stock Performance

Shares of SU stock opened at $33.44 on Friday. The company has a market cap of $44.53 billion, a price-to-earnings ratio of 6.67, a price-to-earnings-growth ratio of 0.70 and a beta of 1.27. Suncor Energy Inc. has a 52 week low of $26.42 and a 52 week high of $42.72. The company has a quick ratio of 0.74, a current ratio of 1.13 and a debt-to-equity ratio of 0.25. The firm has a 50 day moving average of $33.23 and a 200-day moving average of $32.65.

Suncor Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 24th. Investors of record on Friday, March 3rd will be given a $0.391 dividend. This represents a $1.56 annualized dividend and a yield of 4.68%. The ex-dividend date is Thursday, March 2nd. Suncor Energy’s payout ratio is currently 30.34%.

Wall Street Analysts Forecast Growth

SU has been the subject of several analyst reports. National Bank Financial raised their price target on shares of Suncor Energy from C$54.00 to C$57.00 in a report on Wednesday, January 11th. Scotiabank lowered their price target on shares of Suncor Energy from C$53.00 to C$50.00 in a report on Tuesday, January 17th. Royal Bank of Canada lowered their price target on shares of Suncor Energy from C$55.00 to C$54.00 in a report on Wednesday, November 30th. BMO Capital Markets reduced their price objective on shares of Suncor Energy from C$58.00 to C$55.00 in a research report on Wednesday, November 30th. Finally, TD Securities raised their price objective on shares of Suncor Energy from C$52.00 to C$53.00 in a research report on Wednesday, February 15th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $53.89.

Suncor Energy Company Profile

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Suncor Energy, Inc is an integrated energy company, which develops petroleum resource basins. Its activities include oil sands development, and upgrading, onshore and offshore oil and gas production, petroleum refining, and product marketing. The company operates through the following business segments: Oil Sands; Exploration and Production; and Refining and Marketing.