Suncor Energy Inc. $SU Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Key Points

• Mitsubishi UFJ Trust & Banking Corp cut its stake in Suncor by 46.3% in Q4, selling 316,988 shares and leaving 368,005 shares worth about $16.1 million.
• Suncor shares were trading around $68.54 (near a 12‑month high of $68.62) with a market cap of about $81.2 billion, a PE of 19.75, and a quarterly dividend of $0.60 ($2.40 annualized, ~3.5% yield).
• Analysts have grown more positive—several firms raised ratings and price targets, and MarketBeat shows a consensus rating of Buy with a $72.00 target (1 Strong Buy, 6 Buy, 1 Hold).

Mitsubishi UFJ Trust & Banking Corp lessened its stake in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 46.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 368,005 shares of the oil and gas producer's stock after selling 316,988 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp's holdings in Suncor Energy were worth $16,139,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Atlantic Edge Private Wealth Management LLC raised its position in Suncor Energy by 54.9% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 635 shares of the oil and gas producer's stock worth $28,000 after buying an additional 225 shares during the last quarter. Sagespring Wealth Partners LLC boosted its holdings in shares of Suncor Energy by 3.8% in the fourth quarter. Sagespring Wealth Partners LLC now owns 6,584 shares of the oil and gas producer's stock valued at $292,000 after acquiring an additional 242 shares in the last quarter. Burney Co. increased its stake in shares of Suncor Energy by 1.3% during the fourth quarter. Burney Co. now owns 20,208 shares of the oil and gas producer's stock worth $896,000 after acquiring an additional 261 shares during the period. Richardson Financial Services Inc. raised its holdings in Suncor Energy by 64.1% during the third quarter. Richardson Financial Services Inc. now owns 704 shares of the oil and gas producer's stock worth $29,000 after purchasing an additional 275 shares in the last quarter. Finally, D Orazio & Associates Inc. raised its holdings in Suncor Energy by 3.9% during the third quarter. D Orazio & Associates Inc. now owns 7,299 shares of the oil and gas producer's stock worth $305,000 after purchasing an additional 275 shares in the last quarter. 67.37% of the stock is owned by institutional investors and hedge funds.

Suncor Energy Trading Up 2.2%

Shares of Suncor Energy stock opened at $68.54 on Friday. The company has a 50-day moving average of $62.02 and a two-hundred day moving average of $51.43. Suncor Energy Inc. has a 12-month low of $33.50 and a 12-month high of $68.62. The company has a current ratio of 1.39, a quick ratio of 0.89 and a debt-to-equity ratio of 0.20. The stock has a market cap of $81.17 billion, a PE ratio of 19.75 and a beta of 0.32.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last released its quarterly earnings results on Tuesday, February 3rd. The oil and gas producer reported $0.79 earnings per share for the quarter, topping analysts' consensus estimates of $0.77 by $0.02. Suncor Energy had a return on equity of 12.51% and a net margin of 11.99%.The business had revenue of $8.77 billion for the quarter, compared to analysts' expectations of $8.79 billion. During the same quarter in the prior year, the firm posted $1.25 EPS. On average, research analysts anticipate that Suncor Energy Inc. will post 5.72 EPS for the current fiscal year.

Suncor Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 4th were issued a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, March 4th. This represents a $2.40 annualized dividend and a yield of 3.5%. Suncor Energy's dividend payout ratio is 50.72%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on SU shares. The Goldman Sachs Group lifted their price objective on Suncor Energy from $66.00 to $73.00 and gave the company a "buy" rating in a report on Wednesday, April 1st. ATB Cormark Capital Markets raised Suncor Energy from a "hold" rating to a "moderate buy" rating in a report on Wednesday, April 1st. Royal Bank Of Canada lifted their price target on Suncor Energy from $75.00 to $89.00 and gave the company an "outperform" rating in a research note on Wednesday, April 1st. JPMorgan Chase & Co. upgraded Suncor Energy from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $46.15 to $54.00 in a research report on Tuesday, January 20th. Finally, Zacks Research raised Suncor Energy from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 2nd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Suncor Energy currently has a consensus rating of "Buy" and a consensus target price of $72.00.

Suncor Energy Company Profile

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company's operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.

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