MML Investors Services LLC Has $495,000 Stake in Suncor Energy Inc. (NYSE:SU)

MML Investors Services LLC lessened its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 31.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,413 shares of the oil and gas producer’s stock after selling 6,183 shares during the quarter. MML Investors Services LLC’s holdings in Suncor Energy were worth $495,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SU. Eastern Bank purchased a new position in Suncor Energy in the third quarter valued at about $25,000. Summit Securities Group LLC bought a new stake in shares of Suncor Energy in the 2nd quarter valued at approximately $27,000. Richardson Financial Services Inc. increased its holdings in Suncor Energy by 82.8% in the second quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer’s stock worth $28,000 after buying an additional 328 shares during the last quarter. Ridgewood Investments LLC bought a new position in Suncor Energy during the second quarter valued at approximately $29,000. Finally, Waldron Private Wealth LLC acquired a new stake in Suncor Energy in the third quarter valued at approximately $49,000. 67.37% of the stock is owned by hedge funds and other institutional investors.

Suncor Energy Price Performance

Shares of NYSE:SU opened at $34.50 on Monday. The company has a quick ratio of 1.04, a current ratio of 1.59 and a debt-to-equity ratio of 0.24. The business has a 50 day moving average price of $38.68 and a 200 day moving average price of $38.58. The company has a market cap of $43.41 billion, a price-to-earnings ratio of 7.52, a PEG ratio of 2.43 and a beta of 1.11. Suncor Energy Inc. has a twelve month low of $31.03 and a twelve month high of $41.94.

Suncor Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 3rd will be paid a $0.4089 dividend. This is an increase from Suncor Energy’s previous quarterly dividend of $0.40. The ex-dividend date is Tuesday, December 3rd. This represents a $1.64 annualized dividend and a dividend yield of 4.74%. Suncor Energy’s dividend payout ratio (DPR) is presently 36.60%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on SU shares. Morgan Stanley lowered shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 16th. Royal Bank of Canada restated an “outperform” rating and set a $66.00 target price on shares of Suncor Energy in a report on Friday. StockNews.com downgraded Suncor Energy from a “buy” rating to a “hold” rating in a research note on Monday, December 16th. Finally, Desjardins raised Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Suncor Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.00.

Suncor Energy Company Profile

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.