Van ECK Associates Corp Sells 3,052 Shares of Suncor Energy Inc. (NYSE:SU)

Van ECK Associates Corp lowered its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 0.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,033,979 shares of the oil and gas producer’s stock after selling 3,052 shares during the quarter. Van ECK Associates Corp owned 0.08% of Suncor Energy worth $36,883,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Eastern Bank purchased a new position in Suncor Energy during the third quarter worth $25,000. HHM Wealth Advisors LLC raised its stake in shares of Suncor Energy by 62.1% in the fourth quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer’s stock valued at $30,000 after acquiring an additional 325 shares during the period. Golden State Wealth Management LLC bought a new stake in shares of Suncor Energy in the 4th quarter worth about $39,000. Stonebridge Financial Group LLC purchased a new position in shares of Suncor Energy during the 4th quarter worth about $45,000. Finally, Waldron Private Wealth LLC bought a new position in Suncor Energy during the 3rd quarter valued at about $49,000. Institutional investors own 67.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SU. StockNews.com upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th. Tudor, Pickering, Holt & Co. raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Monday. Desjardins upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Cibc World Mkts upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $66.00 target price on shares of Suncor Energy in a research note on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.00.

Suncor Energy Trading Up 0.7 %

NYSE SU opened at $39.91 on Friday. The company’s 50-day simple moving average is $37.70 and its two-hundred day simple moving average is $38.58. Suncor Energy Inc. has a one year low of $31.31 and a one year high of $41.94. The company has a market capitalization of $49.67 billion, a price-to-earnings ratio of 11.57, a price-to-earnings-growth ratio of 2.96 and a beta of 1.12. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.04 and a current ratio of 1.59.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings data on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.07. Suncor Energy had a net margin of 11.80% and a return on equity of 15.33%. Equities analysts forecast that Suncor Energy Inc. will post 3.25 EPS for the current fiscal year.

Suncor Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 4th will be given a $0.399 dividend. This represents a $1.60 annualized dividend and a dividend yield of 4.00%. The ex-dividend date of this dividend is Tuesday, March 4th. Suncor Energy’s payout ratio is 46.67%.

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.