Gateway Investment Advisers LLC Reduces Stake in Suncor Energy Inc. (NYSE:SU)

Gateway Investment Advisers LLC lowered its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 3.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,505 shares of the oil and gas producer’s stock after selling 320 shares during the period. Gateway Investment Advisers LLC’s holdings in Suncor Energy were worth $368,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake 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 valued at $1,892,526,000 after acquiring an additional 323,714 shares in the last quarter. Artisan Partners Limited Partnership raised its stake in Suncor Energy by 0.7% in the fourth quarter. Artisan Partners Limited Partnership now owns 24,289,019 shares of the oil and gas producer’s stock worth $865,885,000 after buying an additional 169,700 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Suncor Energy by 0.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 23,308,055 shares of the oil and gas producer’s stock worth $831,631,000 after buying an additional 209,447 shares in the last quarter. Toronto Dominion Bank raised its stake in Suncor Energy by 3.0% in the fourth quarter. Toronto Dominion Bank now owns 19,098,225 shares of the oil and gas producer’s stock worth $680,847,000 after buying an additional 552,018 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Suncor Energy by 4.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 10,981,927 shares of the oil and gas producer’s stock worth $391,809,000 after buying an additional 445,613 shares in the last quarter. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on SU. Wall Street Zen lowered shares of Suncor Energy from a “buy” rating to a “hold” rating in a report on Thursday, April 17th. Cibc World Mkts raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 11th. Scotiabank raised shares of Suncor Energy to a “hold” rating in a report on Wednesday, March 19th. Tudor Pickering raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, February 10th. Finally, Tudor, Pickering, Holt & Co. raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Monday, February 10th. Four research analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Suncor Energy presently has a consensus rating of “Moderate Buy” and an average target price of $64.67.

Suncor Energy Stock Up 0.5%

Shares of NYSE SU opened at $36.98 on Tuesday. The company has a 50 day simple moving average of $35.07 and a 200-day simple moving average of $36.91. The company has a market capitalization of $45.40 billion, a P/E ratio of 10.72, a P/E/G ratio of 2.94 and a beta of 0.79. 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 Inc. has a 1 year low of $30.79 and a 1 year high of $41.95.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its earnings results on Tuesday, May 6th. The oil and gas producer reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.05. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. The firm had revenue of $9.10 billion during the quarter, compared to the consensus estimate of $13.39 billion. During the same quarter last year, the firm earned $1.41 EPS. On average, equities research analysts predict that Suncor Energy Inc. will post 3.42 earnings per share for the current year.

Suncor Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Wednesday, June 4th will be given a $0.4133 dividend. This represents a $1.65 annualized dividend and a yield of 4.47%. The ex-dividend date is Wednesday, June 4th. This is a boost from Suncor Energy’s previous quarterly dividend of $0.40. Suncor Energy’s dividend payout ratio (DPR) is currently 47.55%.

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.