Suncor Energy Inc. (NYSE:SU) Shares Sold by Addenda Capital Inc.

Addenda Capital Inc. lessened its stake in Suncor Energy Inc. (NYSE:SUFree Report) (TSE:SU) by 3.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 876,546 shares of the oil and gas producer’s stock after selling 29,761 shares during the period. Suncor Energy comprises 1.4% of Addenda Capital Inc.’s investment portfolio, making the stock its 21st biggest position. Addenda Capital Inc.’s holdings in Suncor Energy were worth $31,275,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Sanctuary Advisors LLC increased its holdings in Suncor Energy by 32.3% in the third quarter. Sanctuary Advisors LLC now owns 82,204 shares of the oil and gas producer’s stock valued at $3,035,000 after buying an additional 20,081 shares in the last quarter. Intech Investment Management LLC boosted its position in Suncor Energy by 1,345.8% during the third quarter. Intech Investment Management LLC now owns 468,415 shares of the oil and gas producer’s stock worth $17,309,000 after purchasing an additional 436,016 shares in the last quarter. Aigen Investment Management LP acquired a new stake in Suncor Energy in the third quarter valued at approximately $1,376,000. Assenagon Asset Management S.A. increased its position in shares of Suncor Energy by 1,324.8% in the fourth 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 buying an additional 3,225,543 shares in the last quarter. Finally, DRW Securities LLC acquired a new position in shares of Suncor Energy during the 3rd quarter worth approximately $1,151,000. 67.37% of the stock is owned by institutional investors and hedge funds.

Suncor Energy Stock Performance

Shares of Suncor Energy stock opened at $39.02 on Tuesday. The business’s 50 day moving average price is $38.07 and its 200 day moving average price is $38.52. The company has a market cap of $48.57 billion, a price-to-earnings ratio of 8.50, a PEG ratio of 3.35 and a beta of 1.12. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.04 and a current ratio of 1.59. Suncor Energy Inc. has a one year low of $31.03 and a one year high of $41.94.

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 issued a $0.4089 dividend. The ex-dividend date was Tuesday, December 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.19%. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.40. Suncor Energy’s dividend payout ratio is currently 35.08%.

Analyst Ratings Changes

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

Check Out Our Latest Stock Report on Suncor Energy

Suncor Energy Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Suncor Energy (NYSE:SU)

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