Franklin Resources Inc. Has $116.21 Million Stock Position in Suncor Energy Inc. (NYSE:SU)

Franklin Resources Inc. cut its position in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 10.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 3,258,299 shares of the oil and gas producer's stock after selling 361,055 shares during the quarter. Franklin Resources Inc. owned 0.26% of Suncor Energy worth $116,207,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Glenmede Trust Co. NA boosted its holdings in Suncor Energy by 15.0% during the third quarter. Glenmede Trust Co. NA now owns 16,979 shares of the oil and gas producer's stock worth $627,000 after buying an additional 2,211 shares in the last quarter. Captrust Financial Advisors boosted its stake in shares of Suncor Energy by 8.1% during the 3rd quarter. Captrust Financial Advisors now owns 51,164 shares of the oil and gas producer's stock worth $1,889,000 after acquiring an additional 3,830 shares in the last quarter. Erste Asset Management GmbH acquired a new position in shares of Suncor Energy in the 3rd quarter worth $638,000. Janus Henderson Group PLC raised its position in shares of Suncor Energy by 11.3% during the third quarter. Janus Henderson Group PLC now owns 1,022,237 shares of the oil and gas producer's stock worth $37,771,000 after purchasing an additional 103,453 shares during the period. Finally, Recurrent Investment Advisors LLC boosted its position in shares of Suncor Energy by 13.2% in the 3rd quarter. Recurrent Investment Advisors LLC now owns 1,655,402 shares of the oil and gas producer's stock valued at $61,979,000 after purchasing an additional 192,488 shares during the period. Institutional investors own 67.37% of the company's stock.

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Analysts Set New Price Targets

Several analysts have issued reports on SU shares. Scotiabank upgraded Suncor Energy to a "hold" rating in a report on Wednesday, March 19th. Tudor, Pickering, Holt & Co. upgraded shares of Suncor Energy from a "hold" rating to a "buy" rating in a report on Monday, February 10th. Cibc World Mkts raised shares of Suncor Energy from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 11th. Morgan Stanley lowered Suncor Energy from an "overweight" rating to an "equal weight" rating in a report on Monday, December 16th. Finally, Bank of America started coverage on Suncor Energy in a report on Wednesday, February 26th. They set a "neutral" rating on the stock. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $59.20.

Suncor Energy Stock Down 2.0 %

Shares of NYSE SU traded down $0.66 during trading hours on Monday, hitting $32.54. The stock had a trading volume of 3,517,024 shares, compared to its average volume of 4,398,276. The firm's 50-day moving average price is $37.94 and its two-hundred day moving average price is $38.21. Suncor Energy Inc. has a 52 week low of $31.33 and a 52 week high of $41.95. The company has a market capitalization of $40.25 billion, a P/E ratio of 9.43, a P/E/G ratio of 2.94 and a beta of 0.79. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.33.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last announced its quarterly earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 EPS for the quarter, topping the consensus estimate of $0.82 by $0.07. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. Analysts anticipate that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 4th were issued a dividend of $0.399 per share. The ex-dividend date was Tuesday, March 4th. This represents a $1.60 annualized dividend and a yield of 4.91%. Suncor Energy's dividend payout ratio (DPR) is currently 45.51%.

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.