Kornitzer Capital Management Inc. KS Sells 1,490 Shares of Suncor Energy Inc. (NYSE:SU)

Kornitzer Capital Management Inc. KS lessened its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 0.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 269,510 shares of the oil and gas producer’s stock after selling 1,490 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Suncor Energy were worth $8,635,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in SU. Cambridge Investment Research Advisors Inc. grew its stake in shares of Suncor Energy by 13.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 12,045 shares of the oil and gas producer’s stock valued at $393,000 after buying an additional 1,382 shares during the last quarter. HighTower Advisors LLC grew its stake in shares of Suncor Energy by 8.9% during the first quarter. HighTower Advisors LLC now owns 31,145 shares of the oil and gas producer’s stock valued at $1,013,000 after buying an additional 2,544 shares during the last quarter. BlackRock Inc. grew its stake in shares of Suncor Energy by 41.9% during the first quarter. BlackRock Inc. now owns 927,375 shares of the oil and gas producer’s stock valued at $30,223,000 after buying an additional 273,853 shares during the last quarter. Raymond James Trust N.A. grew its stake in shares of Suncor Energy by 40.4% during the first quarter. Raymond James Trust N.A. now owns 12,556 shares of the oil and gas producer’s stock valued at $409,000 after buying an additional 3,610 shares during the last quarter. Finally, Sei Investments Co. grew its stake in shares of Suncor Energy by 20.5% during the first quarter. Sei Investments Co. now owns 11,827 shares of the oil and gas producer’s stock valued at $380,000 after buying an additional 2,015 shares during the last quarter. Institutional investors own 67.37% of the company’s stock.

Suncor Energy Trading Up 1.3 %

Shares of NYSE SU traded up $0.49 during trading hours on Friday, hitting $38.54. The company’s stock had a trading volume of 4,912,536 shares, compared to its average volume of 4,004,363. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.88 and a current ratio of 1.44. The stock has a market cap of $49.61 billion, a price-to-earnings ratio of 8.20, a P/E/G ratio of 3.35 and a beta of 1.13. Suncor Energy Inc. has a 12 month low of $27.59 and a 12 month high of $39.32. The business has a 50-day simple moving average of $35.75 and a 200-day simple moving average of $33.67.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings data on Wednesday, February 21st. The oil and gas producer reported $0.93 EPS for the quarter, topping the consensus estimate of $0.80 by $0.13. Suncor Energy had a net margin of 16.33% and a return on equity of 16.08%. The business had revenue of $10.39 billion during the quarter, compared to analyst estimates of $8.46 billion. During the same period last year, the business posted $1.33 earnings per share. On average, analysts anticipate that Suncor Energy Inc. will post 3.78 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 4th were issued a $0.406 dividend. The ex-dividend date of this dividend was Friday, March 1st. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.39. This represents a $1.62 annualized dividend and a yield of 4.21%. Suncor Energy’s dividend payout ratio (DPR) is 34.26%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on SU shares. Morgan Stanley raised their price objective on Suncor Energy from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $52.00.

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.