K.J. Harrison & Partners Inc Cuts Position in Suncor Energy Inc. (NYSE:SU)

K.J. Harrison & Partners Inc lowered its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 17.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 107,605 shares of the oil and gas producer’s stock after selling 22,270 shares during the period. K.J. Harrison & Partners Inc’s holdings in Suncor Energy were worth $3,454,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Arlington Trust Co LLC purchased a new stake in shares of Suncor Energy during the third quarter worth about $29,000. Optiver Holding B.V. acquired a new stake in Suncor Energy in the 3rd quarter worth about $29,000. Headinvest LLC acquired a new position in shares of Suncor Energy during the third quarter valued at approximately $40,000. Private Trust Co. NA lifted its position in shares of Suncor Energy by 38.4% in the third quarter. Private Trust Co. NA now owns 1,222 shares of the oil and gas producer’s stock valued at $42,000 after acquiring an additional 339 shares in the last quarter. Finally, Bruce G. Allen Investments LLC purchased a new stake in shares of Suncor Energy during the fourth quarter worth approximately $46,000. 67.37% of the stock is owned by institutional investors and hedge funds.

Suncor Energy Stock Performance

Shares of Suncor Energy stock traded down $0.01 on Friday, hitting $39.43. The stock had a trading volume of 2,563,934 shares, compared to its average volume of 4,265,604. The company’s 50 day moving average price is $36.44 and its 200 day moving average price is $33.90. The stock has a market cap of $50.76 billion, a price-to-earnings ratio of 8.39, a P/E/G ratio of 3.46 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 52-week low of $27.59 and a 52-week high of $39.63.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings data on Wednesday, February 21st. The oil and gas producer reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.13. The business had revenue of $10.39 billion during the quarter, compared to the consensus estimate of $8.46 billion. Suncor Energy had a return on equity of 16.08% and a net margin of 16.33%. During the same period in the prior year, the company earned $1.33 earnings per share. On average, research analysts anticipate that Suncor Energy Inc. will post 3.78 EPS for the current year.

Suncor Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 4th were paid a $0.406 dividend. The ex-dividend date of this dividend was Friday, March 1st. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.39. This represents a $1.62 dividend on an annualized basis and a yield of 4.12%. Suncor Energy’s payout ratio is currently 34.26%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SU. Morgan Stanley lifted their target price on shares of Suncor Energy from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. StockNews.com upgraded shares of 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 six have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $52.00.

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.