Sumitomo Mitsui Trust Holdings Inc. Sells 397,831 Shares of Suncor Energy Inc. (NYSE:SU)

Sumitomo Mitsui Trust Holdings Inc. lessened its position in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 10.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor 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.’s holdings in Suncor Energy were worth $104,623,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Pinnacle Associates Ltd. grew its holdings in shares of Suncor Energy by 0.6% during the third quarter. Pinnacle Associates Ltd. now owns 47,669 shares of the oil and gas producer’s stock valued at $1,639,000 after buying an additional 300 shares during the last quarter. Hexagon Capital Partners LLC boosted its holdings in Suncor Energy by 19.0% during the third quarter. Hexagon Capital Partners LLC now owns 1,931 shares of the oil and gas producer’s stock worth $66,000 after purchasing an additional 308 shares during the last quarter. Private Trust Co. NA boosted its holdings in Suncor Energy by 38.4% during the third quarter. Private Trust Co. NA now owns 1,222 shares of the oil and gas producer’s stock worth $42,000 after purchasing an additional 339 shares during the last quarter. Gradient Investments LLC boosted its holdings in Suncor Energy by 1.0% during the third quarter. Gradient Investments LLC now owns 33,205 shares of the oil and gas producer’s stock worth $1,142,000 after purchasing an additional 345 shares during the last quarter. Finally, First Financial Corp IN boosted its holdings in Suncor Energy by 3.3% during the fourth quarter. First Financial Corp IN now owns 12,422 shares of the oil and gas producer’s stock worth $398,000 after purchasing an additional 393 shares during the last quarter. Institutional investors own 67.37% of the company’s stock.

Suncor Energy Stock Performance

NYSE SU opened at $37.59 on Wednesday. The company’s 50 day moving average is $35.39 and its 200-day moving average is $33.58. Suncor Energy Inc. has a 12-month low of $27.59 and a 12-month high of $39.32. The company has a quick ratio of 0.88, a current ratio of 1.44 and a debt-to-equity ratio of 0.26. The firm has a market cap of $48.39 billion, a P/E ratio of 8.00, a price-to-earnings-growth ratio of 3.33 and a beta of 1.13.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings data on Wednesday, February 21st. The oil and gas producer reported $0.93 EPS for the quarter, beating the consensus estimate of $0.80 by $0.13. The company had revenue of $10.39 billion during the quarter, compared to analysts’ expectations of $8.46 billion. Suncor Energy had a net margin of 16.33% and a return on equity of 16.08%. During the same quarter in the previous year, the company earned $1.33 earnings per share. Sell-side analysts predict that Suncor Energy Inc. will post 3.72 earnings per share for the current year.

Suncor Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Monday, March 4th were paid a dividend of $0.406 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.62 annualized dividend and a yield of 4.32%. This is a boost from Suncor Energy’s previous quarterly dividend of $0.39. Suncor Energy’s payout ratio is currently 34.26%.

Wall Street Analyst Weigh In

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

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.