Ontario Teachers Pension Plan Board Sells 38,489 Shares of Suncor Energy Inc. (NYSE:SU)

Ontario Teachers Pension Plan Board trimmed its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 20.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 145,716 shares of the oil and gas producer’s stock after selling 38,489 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Suncor Energy were worth $5,378,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of SU. UniSuper Management Pty Ltd raised its stake in shares of Suncor Energy by 87.6% in the 1st quarter. UniSuper Management Pty Ltd now owns 18,200 shares of the oil and gas producer’s stock valued at $672,000 after acquiring an additional 8,500 shares in the last quarter. Lake Street Advisors Group LLC acquired a new stake in Suncor Energy during the first quarter valued at approximately $217,000. Shell Asset Management Co. grew its stake in shares of Suncor Energy by 14.1% in the 1st quarter. Shell Asset Management Co. now owns 94,989 shares of the oil and gas producer’s stock valued at $3,509,000 after purchasing an additional 11,740 shares during the period. Freestone Capital Holdings LLC acquired a new position in shares of Suncor Energy in the 1st quarter worth approximately $205,000. Finally, Advisors Asset Management Inc. lifted its position in shares of Suncor Energy by 7.5% during the 1st quarter. Advisors Asset Management Inc. now owns 44,721 shares of the oil and gas producer’s stock worth $1,651,000 after buying an additional 3,105 shares during the period. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Stock Up 0.4 %

Shares of NYSE SU opened at $40.98 on Wednesday. Suncor Energy Inc. has a 12-month low of $29.45 and a 12-month high of $41.94. The company has a market cap of $51.70 billion, a price-to-earnings ratio of 8.93, a price-to-earnings-growth ratio of 2.79 and a beta of 1.12. 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 firm’s 50-day simple moving average is $38.56 and its 200 day simple moving average is $38.81.

Suncor Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 24th. Investors of record on Tuesday, December 3rd will be given a $0.4089 dividend. This represents a $1.64 annualized dividend and a yield of 3.99%. The ex-dividend date of this dividend is Tuesday, December 3rd. This is a boost from Suncor Energy’s previous quarterly dividend of $0.40. Suncor Energy’s payout ratio is 35.29%.

Wall Street Analysts Forecast Growth

SU has been the topic of a number of analyst reports. Desjardins upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. TD Securities raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. BMO Capital Markets upgraded shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 7th. Finally, StockNews.com upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Suncor Energy presently has a consensus rating of “Moderate Buy” and an average price target of $56.40.

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.