Investec Asset Management LTD Increases Position in Suncor Energy Inc. (SU)

Investec Asset Management LTD boosted its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 33.7% during the first quarter, Holdings Channel reports. The institutional investor owned 1,848,515 shares of the oil and gas producer’s stock after buying an additional 466,179 shares during the period. Investec Asset Management LTD’s holdings in Suncor Energy were worth $56,593,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Seven Eight Capital LP purchased a new position in shares of Suncor Energy during the fourth quarter valued at approximately $105,000. CENTRAL TRUST Co boosted its position in Suncor Energy by 90.8% in the first quarter. CENTRAL TRUST Co now owns 3,641 shares of the oil and gas producer’s stock worth $112,000 after buying an additional 1,733 shares in the last quarter. YorkBridge Wealth Partners LLC boosted its position in Suncor Energy by 1.0% in the first quarter. YorkBridge Wealth Partners LLC now owns 4,061 shares of the oil and gas producer’s stock worth $128,000 after buying an additional 42 shares in the last quarter. Howe & Rusling Inc. boosted its position in Suncor Energy by 19.3% in the first quarter. Howe & Rusling Inc. now owns 4,143 shares of the oil and gas producer’s stock worth $127,000 after buying an additional 670 shares in the last quarter. Finally, Bronfman E.L. Rothschild L.P. boosted its position in Suncor Energy by 6.0% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 4,224 shares of the oil and gas producer’s stock worth $130,000 after buying an additional 238 shares in the last quarter. 64.84% of the stock is owned by institutional investors.

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

Shares of Suncor Energy Inc. (NYSE SU) traded down 3.12% during midday trading on Wednesday, hitting $30.47. 3,675,092 shares of the stock were exchanged. The firm has a 50-day moving average of $31.28 and a 200-day moving average of $31.57. The company has a market capitalization of $50.86 billion, a P/E ratio of 44.48 and a beta of 0.96. Suncor Energy Inc. has a 1-year low of $25.60 and a 1-year high of $33.79.

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 26th. Investors of record on Monday, June 5th will be issued a $0.2371 dividend. This represents a $0.95 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend is Thursday, June 1st. Suncor Energy’s dividend payout ratio (DPR) is presently 477.78%.

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A number of equities analysts have commented on SU shares. Zacks Investment Research raised shares of Suncor Energy from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a research note on Tuesday, April 11th. Canaccord Genuity reissued a “buy” rating and issued a $52.00 price target on shares of Suncor Energy in a research note on Saturday, March 11th. TheStreet raised shares of Suncor Energy from a “d+” rating to a “c” rating in a research note on Thursday, February 9th. Goldman Sachs Group Inc raised shares of Suncor Energy from a “buy” rating to a “conviction-buy” rating and boosted their price target for the stock from $25.00 to $34.00 in a research note on Wednesday, April 5th. They noted that the move was a valuation call. Finally, Simmons cut their price target on shares of Suncor Energy from $43.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, April 19th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $42.46.

Suncor Energy Company Profile

Suncor Energy Inc (Suncor) is an integrated energy company. The Company is focused on developing Canada’s petroleum resource basin, Athabasca oil sands. The Company operates in three business segments: Oil Sands, Exploration and Production (E&P), and Refining and Marketing. The Company’s Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “SU”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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