Her Majesty The Queen In Right Of The Province Of Alberta Alberta Investment Management Corp Trimmed Its Suncor Energy INC (SU) Holding by $36.38 Million as Market Value Declined

December 7, 2017 - By reb123z

Her Majesty The Queen In Right Of The Province Of Alberta Alberta Investment Management Corp decreased its stake in Suncor Energy Inc (SU) by 14.86% based on its latest 2017Q2 regulatory filing with the SEC. Her Majesty The Queen In Right Of The Province Of Alberta Alberta Investment Management Corp sold 983,200 shares as the company’s stock declined 0.40% while stock markets rallied. The institutional investor held 5.63 million shares of the integrated oil company at the end of 2017Q2, valued at $213.41 million, down from 6.62M at the end of the previous reported quarter. Her Majesty The Queen In Right Of The Province Of Alberta Alberta Investment Management Corp who had been investing in Suncor Energy Inc for a number of months, seems to be less bullish one the $57.19B market cap company. The stock increased 0.79% or $0.27 during the last trading session, reaching $34.31. About 2.20 million shares traded. Suncor Energy Inc. (NYSE:SU) has risen 22.43% since December 7, 2016 and is uptrending. It has outperformed by 5.73% the S&P500.

Her Majesty The Queen In Right Of The Province Of Alberta Alberta Investment Management Corp, which manages about $10.63 billion US Long portfolio, upped its stake in Telus Corp (NYSE:TU) by 77,831 shares to 2.05M shares, valued at $91.74 million in 2017Q2, according to the filing. It also increased its holding in Magna Intl Inc (NYSE:MGA) by 450,586 shares in the quarter, for a total of 2.19M shares, and has risen its stake in Nike Inc (NYSE:NKE).

Analysts await Suncor Energy Inc. (NYSE:SU) to report earnings on February, 14. They expect $0.35 EPS, up 20.69 % or $0.06 from last year’s $0.29 per share. SU’s profit will be $583.43M for 24.51 P/E if the $0.35 EPS becomes a reality. After $0.41 actual EPS reported by Suncor Energy Inc. for the previous quarter, Wall Street now forecasts -14.63 % negative EPS growth.

More important recent Suncor Energy Inc. (NYSE:SU) news were published by: Fool.ca which released: “Suncor Energy Inc.: Is the Stock Too Expensive Today?” on December 01, 2017, also Marketwired.com published article titled: “Suncor Energy announces pricing of US$750 million notes offering”, Fool.ca published: “Dividend Investors: Should You Own Suncor Energy Inc. in Your TFSA?” on November 14, 2017. More interesting news about Suncor Energy Inc. (NYSE:SU) was released by: Fool.ca and their article: “Should You Buy Enbridge Inc. or Suncor Energy Inc. Today?” with publication date: November 19, 2017.

Suncor Energy Inc. (NYSE:SU) Ratings Coverage

Among 15 analysts covering Suncor Energy Inc. (NYSE:SU), 12 have Buy rating, 0 Sell and 3 Hold. Therefore 80% are positive. Suncor Energy Inc. had 25 analyst reports since July 21, 2015 according to SRatingsIntel. On Wednesday, November 2 the stock rating was upgraded by Morgan Stanley to “Overweight”. The stock has “Neutral” rating by JP Morgan on Tuesday, March 22. The firm has “Neutral” rating given on Wednesday, April 20 by Citigroup. The stock of Suncor Energy Inc. (NYSE:SU) earned “Buy” rating by Citigroup on Thursday, June 23. The stock of Suncor Energy Inc. (NYSE:SU) earned “Neutral” rating by Macquarie Research on Tuesday, January 24. The company was downgraded on Wednesday, November 18 by TD Securities. The stock of Suncor Energy Inc. (NYSE:SU) has “Buy” rating given on Tuesday, November 21 by Edward Jones. On Thursday, October 27 the stock rating was upgraded by Macquarie Research to “Outperform”. Wells Fargo initiated Suncor Energy Inc. (NYSE:SU) on Friday, December 16 with “Outperform” rating. The firm has “Outperform” rating by National Bank Canada given on Friday, October 30.

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