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

Sumitomo Mitsui Trust Group Inc. cut its stake in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 15.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,239 shares of the oil and gas producer's stock after selling 6,548 shares during the quarter. Sumitomo Mitsui Trust Group Inc.'s holdings in Suncor Energy were worth $1,257,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Toronto Dominion Bank lifted its stake in Suncor Energy by 1.8% in the 3rd quarter. Toronto Dominion Bank now owns 18,546,207 shares of the oil and gas producer's stock worth $684,726,000 after purchasing an additional 333,440 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of Suncor Energy by 1.3% during the 3rd 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 buying an additional 180,533 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Suncor Energy by 23.3% during the 3rd 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 buying an additional 1,829,936 shares during the period. Principal Financial Group Inc. raised its position in shares of Suncor Energy by 23.0% during the 3rd 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 buying an additional 1,296,142 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Suncor Energy by 7.6% during the 3rd 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 buying an additional 413,797 shares during the period. 67.37% of the stock is owned by hedge funds and other institutional investors.

Suncor Energy Stock Performance

Shares of Suncor Energy stock traded up $0.17 on Tuesday, reaching $39.73. 1,078,057 shares of the stock were exchanged, compared to its average volume of 4,509,447. Suncor Energy Inc. has a 1-year low of $32.62 and a 1-year high of $41.94. The company has a current ratio of 1.59, a quick ratio of 1.04 and a debt-to-equity ratio of 0.24. The business has a fifty day moving average price of $37.76 and a two-hundred day moving average price of $38.60. The firm has a market capitalization of $49.45 billion, a PE ratio of 11.52, a PEG ratio of 2.96 and a beta of 1.12.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last issued its quarterly 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 net margin of 11.80% and a return on equity of 15.33%. As a group, research analysts anticipate that Suncor Energy Inc. will post 3.25 earnings per share for the current fiscal year.

Suncor Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 4th will be paid a dividend of $0.399 per share. The ex-dividend date is Tuesday, March 4th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.02%. Suncor Energy's dividend payout ratio (DPR) is 46.67%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Morgan Stanley lowered shares of Suncor Energy from an "overweight" rating to an "equal weight" rating in a research report on Monday, December 16th. Desjardins upgraded shares of Suncor Energy from a "hold" rating to a "buy" rating in a report on Thursday, November 14th. StockNews.com upgraded shares of Suncor Energy from a "hold" rating to a "buy" rating in a report on Tuesday, January 14th. Royal Bank of Canada reiterated an "outperform" rating and issued a $66.00 target price on shares of Suncor Energy in a report on Tuesday, January 7th. Finally, Tudor, Pickering, Holt & Co. upgraded shares of Suncor Energy from a "hold" rating to a "buy" rating in a report on Monday, February 10th. Three research 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. According to data from MarketBeat, Suncor Energy has a consensus rating of "Moderate Buy" and a consensus target price of $58.00.

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.