Sumitomo Mitsui Trust Holdings Inc. Decreases Position in Suncor Energy Inc. (NYSE:SU)

Sumitomo Mitsui Trust Holdings Inc. reduced its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 5.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,083,099 shares of the oil and gas producer’s stock after selling 171,373 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.24% of Suncor Energy worth $113,853,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SU. Aviance Capital Partners LLC purchased a new position in shares of Suncor Energy in the first quarter valued at $408,000. First Bank & Trust lifted its holdings in Suncor Energy by 8.7% in the 1st quarter. First Bank & Trust now owns 8,267 shares of the oil and gas producer’s stock worth $305,000 after buying an additional 662 shares in the last quarter. Independence Bank of Kentucky boosted its position in Suncor Energy by 6.7% in the 1st quarter. Independence Bank of Kentucky now owns 5,050 shares of the oil and gas producer’s stock valued at $186,000 after buying an additional 315 shares during the last quarter. Kathmere Capital Management LLC purchased a new stake in shares of Suncor Energy during the first quarter worth about $230,000. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of Suncor Energy by 6.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 83,731 shares of the oil and gas producer’s stock worth $3,091,000 after acquiring an additional 5,082 shares in the last quarter. 67.37% of the stock is owned by institutional investors and hedge funds.

Suncor Energy Stock Performance

Shares of SU stock opened at $39.03 on Thursday. The business has a 50 day simple moving average of $38.74 and a 200 day simple moving average of $35.89. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.51 and a quick ratio of 0.97. The firm has a market capitalization of $50.02 billion, a price-to-earnings ratio of 8.69, a price-to-earnings-growth ratio of 3.68 and a beta of 1.12. Suncor Energy Inc. has a 12-month low of $28.26 and a 12-month high of $41.50.

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

Suncor Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 25th. Shareholders of record on Tuesday, June 4th were given a dividend of $0.395 per share. The ex-dividend date was Tuesday, June 4th. This represents a $1.58 dividend on an annualized basis and a dividend yield of 4.05%. Suncor Energy’s dividend payout ratio (DPR) is 35.19%.

Analyst Upgrades and Downgrades

SU has been the subject of a number of recent analyst reports. TD Securities raised their price objective on Suncor Energy from $52.00 to $57.00 and gave the company a “hold” rating in a research note on Wednesday, May 22nd. Raymond James upgraded shares of Suncor Energy to a “hold” rating in a research note on Tuesday, May 28th. Morgan Stanley increased their price objective on shares of Suncor Energy from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. The Goldman Sachs Group boosted their target price on shares of Suncor Energy from $38.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Finally, StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Monday, June 24th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $51.67.

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.