Nikko Asset Management Americas Inc. Trims Stock Holdings in Suncor Energy Inc. (NYSE:SU)

Nikko Asset Management Americas Inc. reduced its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 15.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 35,239 shares of the oil and gas producer’s stock after selling 6,548 shares during the period. Nikko Asset Management Americas Inc.’s holdings in Suncor Energy were worth $1,257,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Principal Securities Inc. increased its stake in Suncor Energy by 2.2% in the 4th quarter. Principal Securities Inc. now owns 12,423 shares of the oil and gas producer’s stock worth $443,000 after buying an additional 265 shares in the last quarter. UMB Bank n.a. boosted its stake in shares of 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 worth $50,000 after acquiring an additional 300 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of 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. HHM Wealth Advisors LLC raised its stake in Suncor Energy by 62.1% during the 4th quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer’s stock valued at $30,000 after purchasing an additional 325 shares during the period. Finally, Wilmington Savings Fund Society FSB lifted its holdings in Suncor Energy by 11.9% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 3,142 shares of the oil and gas producer’s stock worth $112,000 after purchasing an additional 333 shares in the last quarter. 67.37% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Cibc World Mkts raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 11th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $66.00 target price on shares of Suncor Energy in a research note on Tuesday, January 7th. Bank of America began coverage on shares of Suncor Energy in a research note on Wednesday, February 26th. They issued a “neutral” rating on the stock. Tudor Pickering upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 10th. Finally, Tudor, Pickering, Holt & Co. upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research report on Monday, February 10th. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $58.00.

Suncor Energy Trading Up 2.7 %

SU opened at $37.68 on Tuesday. The stock has a 50-day moving average of $38.30 and a 200 day moving average of $38.20. The company has a current ratio of 1.33, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. Suncor Energy Inc. has a 12 month low of $33.81 and a 12 month high of $41.95. The firm has a market cap of $46.61 billion, a P/E ratio of 10.92, a P/E/G ratio of 2.94 and a beta of 1.11.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 EPS for the quarter, topping 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, 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 will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 4th will be given a dividend of $0.399 per share. This represents a $1.60 dividend on an annualized basis and a yield of 4.24%. The ex-dividend date is Tuesday, March 4th. Suncor Energy’s dividend payout ratio (DPR) is 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.