Suncor Energy Inc. (NYSE:SU) Stock Position Reduced by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board trimmed its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 24.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,386,235 shares of the oil and gas producer’s stock after selling 2,066,900 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.51% of Suncor Energy worth $227,664,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. HHM Wealth Advisors LLC raised its holdings 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 worth $30,000 after purchasing an additional 325 shares during the period. Crowley Wealth Management Inc. bought a new stake in shares of Suncor Energy during the 4th quarter valued at about $35,000. Lee Danner & Bass Inc. acquired a new stake in Suncor Energy during the fourth quarter worth about $36,000. Golden State Wealth Management LLC bought a new position in Suncor Energy in the fourth quarter worth about $39,000. Finally, Covestor Ltd boosted its stake in Suncor Energy by 30.5% in the fourth quarter. Covestor Ltd now owns 1,095 shares of the oil and gas producer’s stock valued at $39,000 after acquiring an additional 256 shares during the period. 67.37% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SU has been the topic of a number of research reports. Tudor, Pickering, Holt & Co. upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research report on Monday, February 10th. Scotiabank raised Suncor Energy to a “hold” rating in a research report on Wednesday, March 19th. Royal Bank of Canada reiterated an “outperform” rating and issued a $66.00 target price on shares of Suncor Energy in a research note on Tuesday, January 7th. Cibc World Mkts upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 11th. Finally, Bank of America started coverage on shares of Suncor Energy in a research report on Wednesday, February 26th. They issued a “neutral” rating on the stock. Five research 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $59.20.

Suncor Energy Stock Up 1.5 %

Suncor Energy stock opened at $33.79 on Thursday. Suncor Energy Inc. has a 52 week low of $30.79 and a 52 week high of $41.95. The stock has a market cap of $41.80 billion, a price-to-earnings ratio of 9.79, a PEG ratio of 2.94 and a beta of 0.79. The company’s 50-day moving average price is $36.89 and its two-hundred day moving average price is $37.90. 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 (NYSE:SU) (TSE:SU) last posted its quarterly earnings data on Wednesday, February 5th. The oil and gas producer reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.07. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. On average, analysts expect that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 4th were issued a $0.399 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $1.60 annualized dividend and a dividend yield of 4.72%. Suncor Energy’s dividend payout ratio (DPR) is 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.