Gradient Investments LLC Sells 1,754 Shares of Suncor Energy Inc. (NYSE:SU)

Gradient Investments LLC cut its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 5.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 33,442 shares of the oil and gas producer’s stock after selling 1,754 shares during the period. Gradient Investments LLC’s holdings in Suncor Energy were worth $1,193,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Sanctuary Advisors LLC boosted its position in shares of Suncor Energy by 32.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 82,204 shares of the oil and gas producer’s stock valued at $3,035,000 after acquiring an additional 20,081 shares during the last quarter. Intech Investment Management LLC raised its stake 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 valued at $17,309,000 after purchasing an additional 436,016 shares in the last quarter. Aigen Investment Management LP bought a new position in Suncor Energy during the third quarter valued at $1,376,000. Assenagon Asset Management S.A. lifted its position in Suncor Energy by 1,324.8% during 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 purchasing an additional 3,225,543 shares during the last quarter. Finally, DRW Securities LLC purchased a new position in shares of Suncor Energy in the 3rd quarter worth $1,151,000. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Suncor Energy Stock Down 1.2 %

Shares of SU opened at $38.93 on Friday. The firm has a fifty day moving average price of $38.05 and a 200-day moving average price of $38.55. The company has a current ratio of 1.59, a quick ratio of 1.04 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $48.45 billion, a P/E ratio of 8.48, a P/E/G ratio of 3.29 and a beta of 1.12. Suncor Energy Inc. has a 12-month low of $31.25 and a 12-month high of $41.94.

Suncor Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd were given a $0.4089 dividend. This represents a $1.64 annualized dividend and a yield of 4.20%. This is a boost from Suncor Energy’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Tuesday, December 3rd. Suncor Energy’s payout ratio is 35.08%.

Wall Street Analyst Weigh In

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

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.