Pictet Asset Management Holding SA Has $14.42 Million Holdings in Suncor Energy Inc. (NYSE:SU)

Pictet Asset Management Holding SA decreased its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 3.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 404,181 shares of the oil and gas producer’s stock after selling 14,981 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Suncor Energy were worth $14,420,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of SU. Sanctuary Advisors LLC boosted its position in 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 worth $3,035,000 after acquiring an additional 20,081 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in Suncor Energy by 86.0% during the fourth quarter. Jones Financial Companies Lllp now owns 67,848 shares of the oil and gas producer’s stock worth $2,421,000 after purchasing an additional 31,366 shares during the last quarter. Sage Investment Counsel LLC acquired a new position in Suncor Energy during the fourth quarter worth $300,000. J.W. Cole Advisors Inc. bought a new position in Suncor Energy in the fourth quarter valued at $236,000. Finally, Bank of New York Mellon Corp increased its stake in Suncor Energy by 104.2% in the 4th quarter. Bank of New York Mellon Corp now owns 3,083,440 shares of the oil and gas producer’s stock valued at $110,017,000 after buying an additional 1,573,726 shares during the last quarter. 67.37% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SU. Cibc World Mkts upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 11th. Tudor, Pickering, Holt & Co. upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research note on Monday, February 10th. Tudor Pickering upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 10th. StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Morgan Stanley lowered shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 16th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $59.20.

Suncor Energy Stock Performance

NYSE SU opened at $39.03 on Wednesday. The stock has a market cap of $48.28 billion, a PE ratio of 11.31, a P/E/G ratio of 2.94 and a beta of 1.11. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.33. The firm has a 50-day moving average of $38.11 and a 200-day moving average of $38.22. Suncor Energy Inc. has a 52-week low of $33.81 and a 52-week high of $41.95.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings data on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.07. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. On average, sell-side analysts anticipate that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 4th were issued a $0.399 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date was Tuesday, March 4th. Suncor Energy’s dividend payout ratio is 45.51%.

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.