Mackenzie Financial Corp Sells 527,211 Shares of Suncor Energy Inc. (NYSE:SU)

Mackenzie Financial Corp cut its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 3.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,967,891 shares of the oil and gas producer’s stock after selling 527,211 shares during the quarter. Mackenzie Financial Corp owned approximately 1.17% of Suncor Energy worth $570,638,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Richardson Financial Services Inc. bought a new stake in shares of Suncor Energy during the 4th quarter worth about $25,000. Trust Co. of Vermont bought a new stake in shares of Suncor Energy during the second quarter worth approximately $26,000. Summit Securities Group LLC acquired a new position in shares of Suncor Energy in the second quarter valued at approximately $27,000. Ridgewood Investments LLC acquired a new position in shares of Suncor Energy in the second quarter valued at approximately $29,000. Finally, Adirondack Trust Co. increased its stake in shares of Suncor Energy by 45.6% during the fourth quarter. Adirondack Trust Co. now owns 1,000 shares of the oil and gas producer’s stock worth $34,000 after purchasing an additional 313 shares during the period. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Suncor Energy Price Performance

Shares of NYSE SU opened at $36.50 on Friday. The stock has a market cap of $46.37 billion, a price-to-earnings ratio of 8.13, a PEG ratio of 2.57 and a beta of 1.13. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.93 and a current ratio of 1.46. Suncor Energy Inc. has a fifty-two week low of $29.45 and a fifty-two week high of $41.94. The firm’s 50-day simple moving average is $38.80 and its 200 day simple moving average is $38.41.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings data on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.51. The business had revenue of $12.90 billion during the quarter, compared to the consensus estimate of $9.30 billion. Suncor Energy had a net margin of 14.40% and a return on equity of 16.22%. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.71 EPS. As a group, research analysts anticipate that Suncor Energy Inc. will post 3.71 earnings per share for the current fiscal year.

Suncor Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th were paid a $0.395 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $1.58 annualized dividend and a dividend yield of 4.33%. Suncor Energy’s payout ratio is presently 36.08%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on SU shares. Wolfe Research initiated coverage on Suncor Energy in a report on Thursday, July 18th. They set an “outperform” rating and a $68.00 target price for the company. Scotiabank cut their price objective on shares of Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. TD Securities upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research 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 downgraded Suncor Energy from a “buy” rating to a “hold” rating in a research report on Friday, September 20th. Three 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 has a consensus rating of “Moderate Buy” and a consensus target price of $55.83.

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.