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

Sumitomo Mitsui Trust Group Inc. lessened its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 15.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund 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 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Toronto Dominion Bank boosted its stake in shares of Suncor Energy by 1.8% during the third quarter. Toronto Dominion Bank now owns 18,546,207 shares of the oil and gas producer’s stock valued at $684,726,000 after purchasing an additional 333,440 shares during the period. CIBC Asset Management Inc boosted its stake in shares of Suncor Energy by 1.3% during the third quarter. CIBC Asset Management Inc now owns 13,942,455 shares of the oil and gas producer’s stock valued at $516,728,000 after purchasing an additional 180,533 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Suncor Energy by 23.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,695,560 shares of the oil and gas producer’s stock valued at $357,827,000 after purchasing an additional 1,829,936 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Suncor Energy by 23.0% during the third quarter. Principal Financial Group Inc. now owns 6,939,573 shares of the oil and gas producer’s stock valued at $256,429,000 after purchasing an additional 1,296,142 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Suncor Energy by 7.6% during the third quarter. Geode Capital Management LLC now owns 5,891,596 shares of the oil and gas producer’s stock valued at $220,955,000 after purchasing an additional 413,797 shares during the period. Institutional investors own 67.37% of the company’s stock.

Suncor Energy Trading Down 1.1 %

Shares of SU stock opened at $39.53 on Friday. The stock’s fifty day moving average is $37.71 and its two-hundred day moving average is $38.59. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.04 and a current ratio of 1.59. The firm has a market capitalization of $49.20 billion, a P/E ratio of 11.46, a PEG ratio of 2.96 and a beta of 1.12. Suncor Energy Inc. has a fifty-two week low of $31.46 and a fifty-two week high of $41.94.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.07. Suncor Energy had a return on equity of 15.33% and a net margin of 11.80%. Research analysts expect 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 given a dividend of $0.399 per share. 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%.

Wall Street Analyst Weigh In

SU has been the subject of a number of research reports. Morgan Stanley lowered shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 16th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $66.00 price objective on shares of Suncor Energy in a research note on Tuesday, January 7th. Tudor, Pickering, Holt & Co. raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Monday, February 10th. Tudor Pickering raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 10th. Finally, Desjardins raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Suncor Energy has a consensus rating of “Moderate Buy” and an average price target of $58.00.

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.