Sumitomo Mitsui Trust Group Inc. Reduces Stock Position in Suncor Energy Inc. (NYSE:SU)

Sumitomo Mitsui Trust Group Inc. trimmed its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 10.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 41,787 shares of the oil and gas producer’s stock after selling 4,722 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Suncor Energy were worth $1,543,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Trust Co. of Vermont purchased a new stake in shares of Suncor Energy in the 2nd quarter worth about $26,000. Eastern Bank purchased a new stake in shares of Suncor Energy in the 3rd quarter worth about $25,000. Summit Securities Group LLC purchased a new position in Suncor Energy during the 2nd quarter valued at about $27,000. Richardson Financial Services Inc. lifted its position in Suncor Energy by 82.8% during the 2nd quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer’s stock valued at $28,000 after acquiring an additional 328 shares during the period. Finally, Ridgewood Investments LLC purchased a new position in Suncor Energy during the 2nd quarter valued at about $29,000. 67.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SU has been the subject of a number of recent research reports. TD Securities raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. BMO Capital Markets raised shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 7th. Desjardins raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Finally, StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $56.40.

Suncor Energy Stock Up 0.4 %

NYSE:SU opened at $40.98 on Wednesday. The firm has a market cap of $51.70 billion, a P/E ratio of 8.93, a P/E/G ratio of 2.79 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 $29.45 and a fifty-two week high of $41.94. The firm has a 50-day simple moving average of $38.56 and a two-hundred day simple moving average of $38.81.

Suncor Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd will be paid a dividend of $0.4089 per share. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date of this dividend is Tuesday, December 3rd. Suncor Energy’s dividend payout ratio (DPR) is currently 35.29%.

Suncor Energy 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.