Sumitomo Life Insurance Co. Trims Stock Position in Suncor Energy Inc. (NYSE:SU)

Sumitomo Life Insurance Co. trimmed its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 2.7% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 36,589 shares of the oil and gas producer’s stock after selling 1,020 shares during the period. Sumitomo Life Insurance Co.’s holdings in Suncor Energy were worth $1,305,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cullen Investment Group LTD. raised its position in shares of Suncor Energy by 0.8% during the 3rd quarter. Cullen Investment Group LTD. now owns 33,106 shares of the oil and gas producer’s stock worth $1,222,000 after acquiring an additional 262 shares in the last quarter. UMB Bank n.a. increased its stake in Suncor Energy by 27.5% in the fourth quarter. UMB Bank n.a. now owns 1,389 shares of the oil and gas producer’s stock valued at $50,000 after purchasing an additional 300 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Suncor Energy by 0.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 112,925 shares of the oil and gas producer’s stock worth $4,169,000 after purchasing an additional 321 shares in the last quarter. Coldstream Capital Management Inc. lifted its position in shares of Suncor Energy by 5.0% during the 3rd quarter. Coldstream Capital Management Inc. now owns 7,486 shares of the oil and gas producer’s stock worth $276,000 after buying an additional 354 shares during the last quarter. Finally, Atomi Financial Group Inc. boosted its holdings in shares of Suncor Energy by 3.2% in the 3rd quarter. Atomi Financial Group Inc. now owns 13,464 shares of the oil and gas producer’s stock valued at $497,000 after buying an additional 416 shares in the last quarter. Institutional investors and hedge funds own 67.37% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on SU. Morgan Stanley cut shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 16th. Royal Bank of Canada reissued an “outperform” rating and issued a $66.00 target price on shares of Suncor Energy in a report on Tuesday, January 7th. Desjardins upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Finally, StockNews.com upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Suncor Energy currently has a consensus rating of “Moderate Buy” and an average price target of $58.00.

Suncor Energy Trading Up 0.8 %

Shares of SU stock opened at $38.59 on Thursday. The company has a market capitalization of $48.02 billion, a P/E ratio of 8.41, a price-to-earnings-growth ratio of 3.29 and a beta of 1.12. 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’s 50 day moving average is $37.95 and its two-hundred day moving average is $38.56. Suncor Energy Inc. has a twelve month low of $31.25 and a twelve month high of $41.94.

Suncor Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 24th. Investors of record on Tuesday, December 3rd were given a $0.4089 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 4.24%. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.40. The ex-dividend date was Tuesday, December 3rd. Suncor Energy’s dividend payout ratio (DPR) is 35.08%.

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.