Wells Fargo & Company MN Decreases Holdings in Suncor Energy Inc. (NYSE:SU)

Wells Fargo & Company MN trimmed its position in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 3.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,715,706 shares of the oil and gas producer's stock after selling 266,449 shares during the period. Wells Fargo & Company MN owned approximately 0.54% of Suncor Energy worth $239,593,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of SU. HHM Wealth Advisors LLC increased its position in shares of Suncor Energy by 62.1% during the fourth quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer's stock worth $30,000 after acquiring an additional 325 shares during the period. Crowley Wealth Management Inc. acquired a new stake in Suncor Energy in the fourth quarter valued at $35,000. Lee Danner & Bass Inc. purchased a new stake in Suncor Energy during the fourth quarter worth approximately $36,000. Golden State Wealth Management LLC acquired a new position in shares of Suncor Energy in the 4th quarter valued at $39,000. Finally, Stonebridge Financial Group LLC purchased a new position in shares of Suncor Energy in the 4th quarter valued at $45,000. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SU. Bank of America initiated coverage on Suncor Energy in a research report on Wednesday, February 26th. They issued a "neutral" rating for the company. Morgan Stanley cut shares of Suncor Energy from an "overweight" rating to an "equal weight" rating in a research note on Monday, December 16th. Scotiabank upgraded shares of Suncor Energy to a "hold" rating in a research report on Wednesday, March 19th. Royal Bank of Canada restated an "outperform" rating and issued a $66.00 price target on shares of Suncor Energy in a research note on Tuesday, January 7th. Finally, Tudor Pickering raised shares of Suncor Energy from a "hold" rating to a "strong-buy" rating in a report on Monday, February 10th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $59.20.

Suncor Energy Trading Up 3.9 %

NYSE SU traded up $1.27 during mid-day trading on Friday, reaching $33.48. 6,236,798 shares of the stock were exchanged, compared to its average volume of 4,495,517. Suncor Energy Inc. has a 1-year low of $30.79 and a 1-year high of $41.95. The stock has a market capitalization of $41.42 billion, a PE ratio of 9.70, a PEG ratio of 2.94 and a beta of 0.79. The business's fifty day simple moving average is $37.20 and its 200 day simple moving average is $37.97. 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 posted its quarterly earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 EPS for the quarter, beating the consensus estimate of $0.82 by $0.07. Suncor Energy had a return on equity of 15.37% and a net margin of 11.80%. On average, research analysts anticipate that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 4th were paid a dividend of $0.399 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $1.60 annualized dividend and a yield of 4.77%. Suncor Energy's dividend payout ratio is presently 45.51%.

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.