Beutel Goodman & Co Ltd. Decreases Stake in Suncor Energy Inc. (NYSE:SU)

Beutel Goodman & Co Ltd. cut its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 9.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,803,703 shares of the oil and gas producer’s stock after selling 940,153 shares during the period. Suncor Energy accounts for 1.7% of Beutel Goodman & Co Ltd.’s investment portfolio, making the stock its 27th largest holding. Beutel Goodman & Co Ltd.’s holdings in Suncor Energy were worth $314,085,000 at the end of the most recent quarter.

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

Suncor Energy Stock Performance

Shares of SU stock opened at $38.36 on Friday. The stock’s 50-day moving average price is $38.13 and its 200 day moving average price is $38.16. The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $47.45 billion, a PE ratio of 11.12, a price-to-earnings-growth ratio of 2.94 and a beta of 1.11. Suncor Energy Inc. has a 52-week low of $33.81 and a 52-week high of $41.95.

Suncor Energy (NYSE:SU) (TSE:SU) last released its earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.07. Suncor Energy had a return on equity of 15.37% and a net margin of 11.80%. As a group, equities research analysts forecast that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 4th were given a dividend of $0.399 per share. The ex-dividend date was Tuesday, March 4th. This represents a $1.60 dividend on an annualized basis and a yield of 4.16%. Suncor Energy’s payout ratio is currently 45.51%.

Analyst Ratings Changes

SU has been the subject of several recent analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $66.00 price objective on shares of Suncor Energy in a research report on Tuesday, January 7th. Scotiabank raised shares of Suncor Energy to a “hold” rating in a research report on Wednesday, March 19th. Bank of America initiated coverage on Suncor Energy in a report on Wednesday, February 26th. They set a “neutral” rating on the stock. Cibc World Mkts raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 11th. Finally, Morgan Stanley downgraded Suncor Energy from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 16th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $59.20.

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.