Wellington Management Group LLP Has $23.29 Million Stock Holdings in Suncor Energy Inc. (NYSE:SU)

Wellington Management Group LLP cut its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 8.8% during the 4th quarter, HoldingsChannel reports. The firm owned 724,373 shares of the oil and gas producer’s stock after selling 69,911 shares during the quarter. Wellington Management Group LLP’s holdings in Suncor Energy were worth $23,293,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Richardson Financial Services Inc. acquired a new stake in shares of Suncor Energy during the fourth quarter worth $25,000. Syon Capital LLC raised its holdings in shares of Suncor Energy by 92.3% during the fourth quarter. Syon Capital LLC now owns 21,724 shares of the oil and gas producer’s stock worth $696,000 after acquiring an additional 10,427 shares during the period. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Suncor Energy during the fourth quarter worth $2,804,000. V Square Quantitative Management LLC acquired a new stake in shares of Suncor Energy during the fourth quarter worth $38,000. Finally, Voisard Asset Management Group Inc. acquired a new stake in shares of Suncor Energy during the fourth quarter worth $83,000. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Morgan Stanley raised their price objective on shares of Suncor Energy from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Monday. Raymond James raised shares of Suncor Energy to a “hold” rating in a research report on Tuesday, May 28th. The Goldman Sachs Group raised their target price on shares of Suncor Energy from $38.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Finally, TD Securities raised their target price on shares of Suncor Energy from $52.00 to $57.00 and gave the company a “hold” rating in a research report on Wednesday, May 22nd. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.67.

Suncor Energy Stock Performance

Shares of SU opened at $37.73 on Wednesday. The firm has a 50-day moving average of $38.79 and a 200-day moving average of $35.62. Suncor Energy Inc. has a one year low of $28.26 and a one year high of $41.50. The company has a market cap of $48.35 billion, a PE ratio of 8.40, a price-to-earnings-growth ratio of 3.48 and a beta of 1.11. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.51 and a quick ratio of 0.97.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Tuesday, May 7th. The oil and gas producer reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.15. Suncor Energy had a net margin of 15.38% and a return on equity of 15.69%. The company had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $8.64 billion. As a group, equities analysts forecast that Suncor Energy Inc. will post 3.52 earnings per share for the current year.

Suncor Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 25th. Stockholders of record on Tuesday, June 4th were given a $0.395 dividend. This represents a $1.58 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date of this dividend was Tuesday, June 4th. Suncor Energy’s dividend payout ratio (DPR) is presently 35.19%.

Suncor Energy Company Profile

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.