Pekin Hardy Strauss Inc. Sells 6,642 Shares of Suncor Energy Inc. (NYSE:SU)

Pekin Hardy Strauss Inc. lessened its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 2.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 232,824 shares of the oil and gas producer’s stock after selling 6,642 shares during the period. Suncor Energy accounts for 1.0% of Pekin Hardy Strauss Inc.’s holdings, making the stock its 21st biggest holding. Pekin Hardy Strauss Inc.’s holdings in Suncor Energy were worth $7,460,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of SU. Vanguard Group Inc. raised its holdings in Suncor Energy by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 50,379,614 shares of the oil and gas producer’s stock worth $1,732,051,000 after purchasing an additional 731,163 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Suncor Energy by 7.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 20,658,847 shares of the oil and gas producer’s stock worth $709,835,000 after buying an additional 1,356,470 shares during the last quarter. Artisan Partners Limited Partnership lifted its holdings in Suncor Energy by 1.9% in the third quarter. Artisan Partners Limited Partnership now owns 20,348,705 shares of the oil and gas producer’s stock valued at $699,750,000 after buying an additional 377,500 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Suncor Energy by 4.1% in the third quarter. The Manufacturers Life Insurance Company now owns 19,194,858 shares of the oil and gas producer’s stock valued at $663,794,000 after buying an additional 762,271 shares during the period. Finally, Mackenzie Financial Corp boosted its position in Suncor Energy by 9.2% during the third quarter. Mackenzie Financial Corp now owns 18,430,549 shares of the oil and gas producer’s stock valued at $618,071,000 after acquiring an additional 1,558,350 shares during the last quarter. Institutional investors own 67.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Morgan Stanley lifted their price objective on Suncor Energy from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. StockNews.com upgraded Suncor Energy from a “hold” rating to a “buy” rating in a report on Friday, April 12th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Suncor Energy has an average rating of “Moderate Buy” and an average target price of $52.00.

Suncor Energy Stock Down 3.8 %

SU stock traded down $1.50 during trading on Tuesday, reaching $38.19. 3,339,885 shares of the stock were exchanged, compared to its average volume of 4,230,530. The firm’s 50 day moving average is $36.58 and its 200 day moving average is $33.95. The firm has a market cap of $49.16 billion, a P/E ratio of 8.45, a price-to-earnings-growth ratio of 3.47 and a beta of 1.13. The company has a current ratio of 1.44, a quick ratio of 0.88 and a debt-to-equity ratio of 0.26. Suncor Energy Inc. has a twelve month low of $27.59 and a twelve month high of $39.73.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its earnings results on Wednesday, February 21st. The oil and gas producer reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.13. Suncor Energy had a return on equity of 16.08% and a net margin of 16.33%. The company had revenue of $10.39 billion for the quarter, compared to analyst estimates of $8.46 billion. During the same period in the prior year, the firm earned $1.33 earnings per share. As a group, research analysts forecast that Suncor Energy Inc. will post 3.78 EPS for the current year.

Suncor Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Monday, March 4th were issued a dividend of $0.406 per share. The ex-dividend date was Friday, March 1st. This represents a $1.62 annualized dividend and a yield of 4.25%. This is an increase from Suncor Energy’s previous quarterly dividend of $0.39. Suncor Energy’s dividend payout ratio is 34.26%.

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.