Fiera Capital Corp Decreases Position in Suncor Energy Inc. (NYSE:SU)

Fiera Capital Corp lowered its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 4.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,487,324 shares of the oil and gas producer’s stock after selling 62,928 shares during the quarter. Fiera Capital Corp’s holdings in Suncor Energy were worth $53,033,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Assenagon Asset Management S.A. grew its stake in Suncor Energy by 1,324.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 3,469,008 shares of the oil and gas producer’s stock worth $123,774,000 after purchasing an additional 3,225,543 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Suncor Energy by 23.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,695,560 shares of the oil and gas producer’s stock valued at $357,827,000 after buying an additional 1,829,936 shares during the period. Principal Financial Group Inc. grew its position in shares of Suncor Energy by 23.0% during the third quarter. Principal Financial Group Inc. now owns 6,939,573 shares of the oil and gas producer’s stock worth $256,429,000 after buying an additional 1,296,142 shares in the last quarter. Fisher Asset Management LLC increased its stake in shares of Suncor Energy by 136.2% during the third quarter. Fisher Asset Management LLC now owns 1,891,781 shares of the oil and gas producer’s stock worth $69,845,000 after buying an additional 1,090,988 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new stake in Suncor Energy in the third quarter valued at approximately $23,286,000. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on SU. Tudor, Pickering, Holt & Co. upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Monday. Morgan Stanley downgraded shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 16th. Desjardins upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a report on Tuesday, January 14th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $66.00 price objective on shares of Suncor Energy in a report on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Suncor Energy has an average rating of “Moderate Buy” and a consensus target price of $58.00.

Suncor Energy Stock Performance

Shares of SU stock opened at $39.62 on Thursday. The stock’s 50-day moving average is $37.67 and its two-hundred day moving average is $38.57. 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 1 year low of $31.25 and a 1 year high of $41.94. The firm has a market cap of $49.31 billion, a price-to-earnings ratio of 11.48, a PEG ratio of 2.96 and a beta of 1.12.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly 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 return on equity of 15.33% and a net margin of 11.80%. Analysts predict that Suncor Energy Inc. will post 3.25 earnings per share for the current year.

Suncor Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 4th will be issued a $0.399 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.03%. Suncor Energy’s payout ratio is 46.67%.

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.