Dixon Mitchell Investment Counsel Inc. Has $174,000 Stock Position in Suncor Energy Inc. (NYSE:SU)

Dixon Mitchell Investment Counsel Inc. lessened its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 39.6% in the fourth quarter, HoldingsChannel reports. The firm owned 4,875 shares of the oil and gas producer’s stock after selling 3,200 shares during the period. Dixon Mitchell Investment Counsel Inc.’s holdings in Suncor Energy were worth $174,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company raised its stake in shares of Suncor Energy by 5.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,134,149 shares of the oil and gas producer’s stock valued at $956,850,000 after purchasing an additional 1,209,073 shares during the period. Toronto Dominion Bank raised its position in Suncor Energy by 1.8% in the 3rd quarter. Toronto Dominion Bank now owns 18,546,207 shares of the oil and gas producer’s stock valued at $684,726,000 after buying an additional 333,440 shares during the last quarter. CIBC Asset Management Inc boosted its position in Suncor Energy by 1.3% during the 3rd quarter. CIBC Asset Management Inc now owns 13,942,455 shares of the oil and gas producer’s stock worth $516,728,000 after acquiring an additional 180,533 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Suncor Energy by 23.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,695,560 shares of the oil and gas producer’s stock worth $357,827,000 after acquiring an additional 1,829,936 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Suncor Energy by 4.5% during the 2nd quarter. Legal & General Group Plc now owns 7,643,418 shares of the oil and gas producer’s stock worth $291,308,000 after acquiring an additional 329,373 shares in the last quarter. Institutional investors own 67.37% of the company’s stock.

Suncor Energy Price Performance

Suncor Energy stock opened at $40.05 on Thursday. The company has a market capitalization of $49.85 billion, a price-to-earnings ratio of 8.73, a PEG ratio of 3.38 and a beta of 1.12. The company has a current ratio of 1.59, a quick ratio of 1.04 and a debt-to-equity ratio of 0.24. Suncor Energy Inc. has a 12 month low of $31.03 and a 12 month high of $41.94. The stock’s 50 day moving average is $38.07 and its 200-day moving average is $38.50.

Suncor Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd were given a dividend of $0.4089 per share. 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. This represents a $1.64 annualized dividend and a yield of 4.08%. Suncor Energy’s dividend payout ratio (DPR) is presently 35.08%.

Wall Street Analysts Forecast Growth

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

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.