Sumitomo Mitsui Trust Group Inc. Sells 6,548 Shares of Suncor Energy Inc. (NYSE:SU)

Sumitomo Mitsui Trust Group Inc. decreased its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 15.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 35,239 shares of the oil and gas producer’s stock after selling 6,548 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Suncor Energy were worth $1,257,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Sanctuary Advisors LLC lifted its position in Suncor Energy by 32.3% during the third quarter. Sanctuary Advisors LLC now owns 82,204 shares of the oil and gas producer’s stock valued at $3,035,000 after purchasing an additional 20,081 shares during the last quarter. Intech Investment Management LLC lifted its position in Suncor Energy by 1,345.8% during the third quarter. Intech Investment Management LLC now owns 468,415 shares of the oil and gas producer’s stock valued at $17,309,000 after purchasing an additional 436,016 shares during the last quarter. Aigen Investment Management LP bought a new stake in Suncor Energy during the third quarter valued at approximately $1,376,000. Assenagon Asset Management S.A. lifted its position in Suncor Energy by 1,324.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,469,008 shares of the oil and gas producer’s stock valued at $123,774,000 after purchasing an additional 3,225,543 shares during the last quarter. Finally, DRW Securities LLC bought a new stake in Suncor Energy during the third quarter valued at approximately $1,151,000. Institutional investors own 67.37% of the company’s stock.

Suncor Energy Stock Down 1.1 %

NYSE:SU opened at $39.53 on Friday. The firm has a market cap of $49.20 billion, a P/E ratio of 11.46, a P/E/G ratio of 2.96 and a beta of 1.12. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.04 and a current ratio of 1.59. Suncor Energy Inc. has a fifty-two week low of $31.46 and a fifty-two week high of $41.94. The firm has a 50-day simple moving average of $37.71 and a two-hundred day simple moving average of $38.59.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings data on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.07. Suncor Energy had a net margin of 11.80% and a return on equity of 15.33%. Analysts predict that Suncor Energy Inc. will post 3.25 earnings per share for the current fiscal year.

Suncor Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 4th will be issued a $0.399 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date is Tuesday, March 4th. Suncor Energy’s payout ratio is 45.22%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Tudor Pickering upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 10th. Cibc World Mkts upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Tudor, Pickering, Holt & Co. upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Monday, February 10th. Morgan Stanley lowered shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a report on Monday, December 16th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $66.00 price objective on shares of Suncor Energy in a report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $58.00.

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.