Integrated Wealth Concepts LLC Sells 291 Shares of Suncor Energy Inc. (NYSE:SU)

Integrated Wealth Concepts LLC trimmed its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 3.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,382 shares of the oil and gas producer’s stock after selling 291 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Suncor Energy were worth $273,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. The Manufacturers Life Insurance Company grew its stake in Suncor Energy by 5.1% in the second 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 in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Suncor Energy by 1.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 23,048,048 shares of the oil and gas producer’s stock valued at $878,131,000 after purchasing an additional 366,432 shares in the last quarter. Toronto Dominion Bank grew its stake in Suncor Energy by 3.4% in the second quarter. Toronto Dominion Bank now owns 18,212,767 shares of the oil and gas producer’s stock valued at $693,906,000 after purchasing an additional 605,833 shares in the last quarter. CIBC Asset Management Inc grew its stake in Suncor Energy by 1.3% in the third quarter. CIBC Asset Management Inc now owns 13,942,455 shares of the oil and gas producer’s stock valued at $516,728,000 after purchasing an additional 180,533 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Suncor Energy by 23.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,695,560 shares of the oil and gas producer’s stock valued at $357,827,000 after buying an additional 1,829,936 shares during the last quarter. 67.37% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SU. Desjardins raised Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.40.

Suncor Energy Stock Performance

NYSE:SU opened at $37.19 on Friday. The stock has a market cap of $46.79 billion, a P/E ratio of 8.14, a PEG ratio of 2.54 and a beta of 1.11. The stock has a 50 day simple moving average of $39.27 and a 200 day simple moving average of $38.77. 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 1-year low of $29.53 and a 1-year high of $41.94.

Suncor Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 24th. Investors of record on Tuesday, December 3rd will be issued a dividend of $0.4089 per share. This is a boost from Suncor Energy’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a yield of 4.40%. The ex-dividend date of this dividend is Tuesday, December 3rd. Suncor Energy’s dividend payout ratio (DPR) is presently 36.60%.

Suncor Energy 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.