Nicola Wealth Management LTD. Lowers Holdings in Suncor Energy Inc. (NYSE:SU)

Nicola Wealth Management LTD. lowered its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 2.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 599,022 shares of the oil and gas producer’s stock after selling 12,700 shares during the period. Suncor Energy comprises approximately 2.0% of Nicola Wealth Management LTD.’s holdings, making the stock its 14th largest holding. Nicola Wealth Management LTD.’s holdings in Suncor Energy were worth $22,116,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Metis Global Partners LLC raised its stake in Suncor Energy by 4.6% in the third quarter. Metis Global Partners LLC now owns 76,110 shares of the oil and gas producer’s stock worth $2,809,000 after buying an additional 3,350 shares in the last quarter. Zions Bancorporation N.A. increased its holdings in shares of Suncor Energy by 67.6% in the 3rd quarter. Zions Bancorporation N.A. now owns 23,761 shares of the oil and gas producer’s stock valued at $877,000 after acquiring an additional 9,582 shares during the period. D Orazio & Associates Inc. purchased a new position in Suncor Energy in the third quarter valued at about $202,000. Simmons Bank raised its holdings in Suncor Energy by 9.1% in the third quarter. Simmons Bank now owns 42,613 shares of the oil and gas producer’s stock worth $1,573,000 after purchasing an additional 3,547 shares in the last quarter. Finally, Aigen Investment Management LP purchased a new stake in shares of Suncor Energy during the third quarter valued at about $1,376,000. 67.37% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on SU shares. StockNews.com upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. BMO Capital Markets raised Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 7th. TD Securities raised Suncor Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. Desjardins raised Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, Wolfe Research assumed coverage on Suncor Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $68.00 price target for the company. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.40.

Suncor Energy Stock Performance

SU traded up $0.94 during trading on Thursday, reaching $40.54. 1,299,668 shares of the company’s stock were exchanged, compared to its average volume of 4,238,353. The company’s fifty day simple moving average is $38.29 and its 200-day simple moving average is $38.74. The stock has a market capitalization of $51.15 billion, a P/E ratio of 8.63, a price-to-earnings-growth ratio of 2.70 and a beta of 1.12. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.46 and a quick ratio of 0.93. Suncor Energy Inc. has a 1 year low of $29.45 and a 1 year high of $41.94.

Suncor Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd will be issued a $0.4089 dividend. This represents a $1.64 annualized dividend and a yield of 4.03%. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Tuesday, December 3rd. Suncor Energy’s dividend payout ratio is presently 35.29%.

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.