TD Asset Management Inc. Sells 1,137,583 Shares of Suncor Energy Inc. (NYSE:SU)

TD Asset Management Inc. lowered its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 4.0% during the 4th quarter, Holdings Channel reports. The firm owned 27,525,431 shares of the oil and gas producer’s stock after selling 1,137,583 shares during the period. Suncor Energy makes up about 0.9% of TD Asset Management Inc.’s investment portfolio, making the stock its 23rd largest holding. TD Asset Management Inc.’s holdings in Suncor Energy were worth $982,012,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. HHM Wealth Advisors LLC increased its holdings in Suncor Energy by 62.1% in the 4th quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer’s stock worth $30,000 after acquiring an additional 325 shares during the last quarter. Crowley Wealth Management Inc. bought a new stake in shares of Suncor Energy in the fourth quarter valued at approximately $35,000. Lee Danner & Bass Inc. purchased a new stake in shares of Suncor Energy during the 4th quarter valued at approximately $36,000. Golden State Wealth Management LLC bought a new position in Suncor Energy in the 4th quarter worth approximately $39,000. Finally, Stonebridge Financial Group LLC purchased a new position in Suncor Energy in the 4th quarter valued at approximately $45,000. Institutional investors own 67.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Bank of America started coverage on Suncor Energy in a research report on Wednesday, February 26th. They set a “neutral” rating on the stock. Morgan Stanley cut Suncor Energy from an “overweight” rating to an “equal weight” rating in a report on Monday, December 16th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $66.00 target price on shares of Suncor Energy in a report on Tuesday, January 7th. Tudor Pickering upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 10th. Finally, Cibc World Mkts upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 11th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $58.00.

Suncor Energy Price Performance

SU stock opened at $38.41 on Tuesday. The firm has a 50 day simple moving average of $38.20 and a two-hundred day simple moving average of $38.14. The stock has a market cap of $47.52 billion, a PE ratio of 11.13, a P/E/G ratio of 2.94 and a beta of 1.11. Suncor Energy Inc. has a one year low of $33.81 and a one year high of $41.95. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.33 and a quick ratio of 0.86.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results 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, analysts predict that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 4th will be issued a dividend of $0.399 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.15%. Suncor Energy’s dividend payout ratio is 45.51%.

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.