Nikko Asset Management Americas Inc. Sells 6,548 Shares of Suncor Energy Inc. (NYSE:SU)

Nikko Asset Management Americas Inc. lessened its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 15.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 35,239 shares of the oil and gas producer’s stock after selling 6,548 shares during the quarter. 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.

Several other hedge funds also recently made changes to their positions in the company. HHM Wealth Advisors LLC increased its stake in shares of Suncor Energy by 62.1% during the fourth 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 in the last quarter. Golden State Wealth Management LLC bought a new position in Suncor Energy during the 4th quarter valued at approximately $39,000. Stonebridge Financial Group LLC purchased a new position in Suncor Energy during the fourth quarter valued at $45,000. UMB Bank n.a. boosted its holdings 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 worth $50,000 after acquiring an additional 300 shares in the last quarter. Finally, Private Trust Co. NA grew its stake in shares of Suncor Energy by 50.2% in the fourth quarter. Private Trust Co. NA now owns 1,705 shares of the oil and gas producer’s stock worth $61,000 after acquiring an additional 570 shares during the last quarter. 67.37% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on SU. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $66.00 price target on shares of Suncor Energy in a research report on Tuesday, January 7th. StockNews.com cut shares of Suncor Energy from a “buy” rating to a “hold” rating in a report on Friday. Morgan Stanley cut shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a report on Monday, December 16th. Cibc World Mkts upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 11th. Finally, Bank of America started coverage on Suncor Energy in a research note on Wednesday, February 26th. They set a “neutral” rating on the stock. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $58.00.

Suncor Energy Stock Performance

SU stock opened at $37.68 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.33 and a quick ratio of 0.86. Suncor Energy Inc. has a 1 year low of $33.81 and a 1 year high of $41.95. The company has a market cap of $46.61 billion, a P/E ratio of 10.92, a price-to-earnings-growth ratio of 2.94 and a beta of 1.11. The stock’s fifty day moving average price is $38.30 and its 200-day moving average price is $38.20.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.07. Suncor Energy had a return on equity of 15.37% and a net margin of 11.80%. On average, equities analysts forecast that Suncor Energy Inc. will post 3.42 earnings per share for the current year.

Suncor Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 4th will be issued a dividend of $0.399 per share. The ex-dividend date is Tuesday, March 4th. This represents a $1.60 dividend on an annualized basis and a yield of 4.24%. Suncor Energy’s dividend payout ratio is currently 45.51%.

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.