Royal London Asset Management Ltd. Has $106.08 Million Stock Position in Suncor Energy Inc. (NYSE:SU)

Royal London Asset Management Ltd. trimmed its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 21.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,873,131 shares of the oil and gas producer’s stock after selling 787,814 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Suncor Energy were worth $106,076,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in SU. Cetera Investment Advisers boosted its holdings in shares of Suncor Energy by 213.9% in the first quarter. Cetera Investment Advisers now owns 85,277 shares of the oil and gas producer’s stock worth $3,148,000 after buying an additional 58,110 shares during the period. Cetera Advisors LLC boosted its holdings in shares of Suncor Energy by 105.2% during the first quarter. Cetera Advisors LLC now owns 16,854 shares of the oil and gas producer’s stock worth $622,000 after purchasing an additional 8,641 shares during the period. Park Avenue Securities LLC boosted its holdings in shares of Suncor Energy by 55.3% during the second quarter. Park Avenue Securities LLC now owns 30,761 shares of the oil and gas producer’s stock worth $1,172,000 after purchasing an additional 10,949 shares during the period. CWM LLC boosted its holdings in shares of Suncor Energy by 15.7% during the second quarter. CWM LLC now owns 4,418 shares of the oil and gas producer’s stock worth $168,000 after purchasing an additional 598 shares during the period. Finally, Manning & Napier Advisors LLC acquired a new stake in shares of Suncor Energy during the second quarter worth approximately $4,032,000. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Suncor Energy Price Performance

NYSE SU opened at $38.49 on Thursday. Suncor Energy Inc. has a 12-month low of $29.45 and a 12-month high of $41.94. The stock has a market capitalization of $48.42 billion, a PE ratio of 8.38, a price-to-earnings-growth ratio of 2.57 and a beta of 1.11. The company has a quick ratio of 1.04, a current ratio of 1.59 and a debt-to-equity ratio of 0.24. The company has a 50 day moving average price of $39.18 and a two-hundred day moving average price of $38.84.

Suncor Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 3rd will be paid a $0.4089 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.25%. This is a boost from Suncor Energy’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Tuesday, December 3rd. Suncor Energy’s payout ratio is presently 36.82%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. TD Securities upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. StockNews.com upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Desjardins upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Finally, BMO Capital Markets upgraded shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $56.40.

Suncor Energy 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.