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

Sumitomo Mitsui Trust Holdings Inc. lessened its stake in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 10.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,254,472 shares of the oil and gas producer's stock after selling 397,831 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.25% of Suncor Energy worth $104,623,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Arlington Trust Co LLC acquired a new stake in shares of Suncor Energy in the 3rd quarter valued at $29,000. Optiver Holding B.V. acquired a new stake in shares of Suncor Energy in the 3rd quarter valued at $29,000. Sunbelt Securities Inc. acquired a new stake in shares of Suncor Energy in the 1st quarter valued at $31,000. Headinvest LLC acquired a new stake in shares of Suncor Energy in the 3rd quarter valued at $40,000. Finally, Private Trust Co. NA boosted its holdings in shares of Suncor Energy by 38.4% during the 3rd quarter. Private Trust Co. NA now owns 1,222 shares of the oil and gas producer's stock valued at $42,000 after acquiring an additional 339 shares in the last quarter. Institutional investors own 67.37% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on SU. StockNews.com raised Suncor Energy from a "hold" rating to a "buy" rating in a report on Friday, April 12th. Morgan Stanley raised their price objective on Suncor Energy from $50.00 to $52.00 and gave the company an "overweight" rating in a report on Thursday, March 28th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $52.00.

Suncor Energy Trading Up 0.8 %

Shares of NYSE SU traded up $0.32 during trading on Wednesday, reaching $37.90. The company had a trading volume of 3,333,578 shares, compared to its average volume of 4,348,275. The company's fifty day moving average price is $35.50 and its 200-day moving average price is $33.61. Suncor Energy Inc. has a 12 month low of $27.59 and a 12 month high of $39.32. The stock has a market cap of $48.78 billion, a P/E ratio of 8.06, a PEG ratio of 3.33 and a beta of 1.13. The company has a quick ratio of 0.88, a current ratio of 1.44 and a debt-to-equity ratio of 0.26.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last released its quarterly earnings results on Wednesday, February 21st. The oil and gas producer reported $0.93 EPS for the quarter, beating analysts' consensus estimates of $0.80 by $0.13. Suncor Energy had a return on equity of 16.08% and a net margin of 16.33%. The firm had revenue of $10.39 billion for the quarter, compared to analyst estimates of $8.46 billion. During the same quarter in the previous year, the company posted $1.33 EPS. As a group, research analysts expect that Suncor Energy Inc. will post 3.72 earnings per share for the current year.

Suncor Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 4th were given a $0.406 dividend. This represents a $1.62 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date of this dividend was Friday, March 1st. This is a positive change from Suncor Energy's previous quarterly dividend of $0.39. Suncor Energy's payout ratio is 34.26%.

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.