Mitsubishi UFJ Trust & Banking Corp Reduces Holdings in Suncor Energy Inc. $SU

Mitsubishi UFJ Trust & Banking Corp lessened its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 46.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 368,005 shares of the oil and gas producer’s stock after selling 316,988 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Suncor Energy were worth $16,139,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. AQR Capital Management LLC raised its position in shares of Suncor Energy by 14.2% during the 1st quarter. AQR Capital Management LLC now owns 25,015 shares of the oil and gas producer’s stock worth $959,000 after purchasing an additional 3,115 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in Suncor Energy by 172.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,981 shares of the oil and gas producer’s stock valued at $77,000 after buying an additional 1,254 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Suncor Energy by 21.1% during the second quarter. EverSource Wealth Advisors LLC now owns 2,667 shares of the oil and gas producer’s stock worth $100,000 after buying an additional 464 shares in the last quarter. AXA S.A. increased its position in Suncor Energy by 17.2% during the second quarter. AXA S.A. now owns 50,278 shares of the oil and gas producer’s stock worth $1,883,000 after buying an additional 7,395 shares in the last quarter. Finally, NewEdge Advisors LLC raised its holdings in shares of Suncor Energy by 6.4% in the second quarter. NewEdge Advisors LLC now owns 67,142 shares of the oil and gas producer’s stock worth $2,514,000 after acquiring an additional 4,043 shares during the last quarter. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Suncor Energy Stock Up 2.2%

SU opened at $68.54 on Friday. Suncor Energy Inc. has a 12 month low of $33.50 and a 12 month high of $68.62. The business has a 50-day moving average of $62.02 and a two-hundred day moving average of $51.43. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.39 and a quick ratio of 0.89. The stock has a market capitalization of $81.17 billion, a price-to-earnings ratio of 19.75 and a beta of 0.32.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Tuesday, February 3rd. The oil and gas producer reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.02. Suncor Energy had a net margin of 11.99% and a return on equity of 12.51%. The business had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.79 billion. During the same period in the prior year, the firm posted $1.25 EPS. On average, research analysts expect that Suncor Energy Inc. will post 5.72 earnings per share for the current year.

Suncor Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 4th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Wednesday, March 4th. Suncor Energy’s dividend payout ratio (DPR) is 50.72%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SU. Royal Bank Of Canada boosted their target price on shares of Suncor Energy from $75.00 to $89.00 and gave the company an “outperform” rating in a research note on Wednesday, April 1st. JPMorgan Chase & Co. upgraded shares of Suncor Energy from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $46.15 to $54.00 in a report on Tuesday, January 20th. ATB Cormark Capital Markets raised shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, April 1st. Zacks Research upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 2nd. Finally, The Goldman Sachs Group lifted their target price on shares of Suncor Energy from $66.00 to $73.00 and gave the stock a “buy” rating in a research note on Wednesday, April 1st. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $72.00.

Suncor Energy Company Profile

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company’s operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.