Letko Brosseau & Associates Inc. Sells 181,606 Shares of Suncor Energy Inc. (SU)

Letko Brosseau & Associates Inc. cut its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 1.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,411,940 shares of the oil and gas producer’s stock after selling 181,606 shares during the quarter. Suncor Energy accounts for about 3.8% of Letko Brosseau & Associates Inc.’s portfolio, making the stock its 3rd largest holding. Letko Brosseau & Associates Inc. owned about 0.81% of Suncor Energy worth $391,298,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. First Personal Financial Services increased its holdings in shares of Suncor Energy by 144.1% during the 2nd quarter. First Personal Financial Services now owns 3,845 shares of the oil and gas producer’s stock valued at $112,000 after purchasing an additional 2,270 shares in the last quarter. Bronfman E.L. Rothschild L.P. increased its holdings in shares of Suncor Energy by 6.0% during the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 4,224 shares of the oil and gas producer’s stock valued at $130,000 after purchasing an additional 238 shares in the last quarter. UBS Asset Management Americas Inc. purchased a new position in shares of Suncor Energy during the 4th quarter valued at approximately $152,000. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Suncor Energy by 680.3% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 5,735 shares of the oil and gas producer’s stock valued at $167,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Financial Architects Inc increased its holdings in shares of Suncor Energy by 1.4% during the 2nd quarter. Financial Architects Inc now owns 6,806 shares of the oil and gas producer’s stock valued at $199,000 after purchasing an additional 93 shares in the last quarter. 64.05% of the stock is owned by institutional investors.

Several research firms have recently weighed in on SU. Zacks Investment Research raised shares of Suncor Energy from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 12th. BidaskClub lowered shares of Suncor Energy from a “hold” rating to a “sell” rating in a report on Friday, August 18th. Citigroup Inc. reissued a “buy” rating on shares of Suncor Energy in a report on Wednesday, August 2nd. AltaCorp Capital lowered shares of Suncor Energy from an “outperform” rating to a “sector perform” rating in a report on Friday, July 28th. Finally, Barclays PLC reissued an “overweight” rating and issued a $52.00 price target (up previously from $47.00) on shares of Suncor Energy in a report on Wednesday, July 12th. One analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $42.86.

TRADEMARK VIOLATION WARNING: This piece was originally posted by StockNewsTimes and is owned by of StockNewsTimes. If you are viewing this piece on another domain, it was stolen and republished in violation of United States & international trademark & copyright law. The correct version of this piece can be accessed at https://stocknewstimes.com/2017/09/21/suncor-energy-inc-su-is-letko-brosseau-associates-inc-s-3rd-largest-position.html.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 25th. Stockholders of record on Tuesday, September 5th will be given a $0.2552 dividend. The ex-dividend date is Thursday, August 31st. This represents a $1.02 dividend on an annualized basis and a dividend yield of 2.99%. This is a boost from Suncor Energy ‘s previous quarterly dividend of $0.24. Suncor Energy ‘s dividend payout ratio (DPR) is currently 84.43%.

Suncor Energy Profile

Suncor Energy Inc (Suncor) is an integrated energy company. The Company is focused on developing Canada’s petroleum resource basin, Athabasca oil sands. The Company operates in three business segments: Oil Sands, Exploration and Production (E&P), and Refining and Marketing. The Company’s Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations.

Institutional Ownership by Quarter for Suncor Energy  (NYSE:SU)

Receive News & Ratings for Suncor Energy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Suncor Energy Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply