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

Nikko Asset Management Americas Inc. lowered its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 7.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,630 shares of the oil and gas producer’s stock after selling 4,636 shares during the quarter. Nikko Asset Management Americas Inc.’s holdings in Suncor Energy were worth $2,238,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Johnson Financial Group Inc. acquired a new position in shares of Suncor Energy in the 4th quarter worth approximately $25,000. Richardson Financial Services Inc. acquired a new position in Suncor Energy in the fourth quarter worth $25,000. Benjamin F. Edwards & Company Inc. increased its stake in Suncor Energy by 43.2% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,038 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 313 shares during the last quarter. Adirondack Trust Co. raised its holdings in shares of Suncor Energy by 45.6% during the fourth quarter. Adirondack Trust Co. now owns 1,000 shares of the oil and gas producer’s stock worth $34,000 after purchasing an additional 313 shares during the period. Finally, V Square Quantitative Management LLC bought a new position in shares of Suncor Energy in the 4th quarter worth about $38,000. Institutional investors own 67.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on SU shares. Raymond James raised shares of Suncor Energy to a “hold” rating in a research report on Tuesday, May 28th. The Goldman Sachs Group upped their target price on Suncor Energy from $38.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. TD Securities raised their price target on Suncor Energy from $52.00 to $57.00 and gave the stock a “hold” rating in a report on Wednesday, May 22nd. StockNews.com upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research note on Monday, June 24th. Finally, Morgan Stanley increased their target price on Suncor Energy from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.67.

Suncor Energy Stock Performance

SU stock traded down $0.48 during trading on Tuesday, reaching $37.47. 3,482,240 shares of the company’s stock were exchanged, compared to its average volume of 4,651,862. The firm has a market cap of $48.01 billion, a PE ratio of 8.39, a P/E/G ratio of 3.58 and a beta of 1.12. The company has a quick ratio of 0.97, a current ratio of 1.51 and a debt-to-equity ratio of 0.25. Suncor Energy Inc. has a 1-year low of $28.65 and a 1-year high of $41.50. The company’s fifty day moving average price is $38.66 and its 200-day moving average price is $36.07.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings data on Tuesday, May 7th. The oil and gas producer reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.15. The business had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $8.64 billion. Suncor Energy had a net margin of 15.38% and a return on equity of 15.69%. On average, research analysts expect that Suncor Energy Inc. will post 3.52 EPS for the current fiscal year.

Suncor Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 25th. Stockholders of record on Tuesday, June 4th were issued a $0.395 dividend. This represents a $1.58 annualized dividend and a dividend yield of 4.22%. The ex-dividend date was Tuesday, June 4th. Suncor Energy’s dividend payout ratio (DPR) is presently 35.19%.

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.