Royal London Asset Management Ltd. Sells 771,518 Shares of Suncor Energy Inc. (NYSE:SU)

Royal London Asset Management Ltd. lowered its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 26.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,101,613 shares of the oil and gas producer’s stock after selling 771,518 shares during the period. Royal London Asset Management Ltd. owned 0.17% of Suncor Energy worth $74,986,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SU. HHM Wealth Advisors LLC increased its holdings in Suncor Energy by 62.1% in the 4th 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 in the last quarter. Golden State Wealth Management LLC bought a new stake in shares of Suncor Energy during the fourth quarter worth about $39,000. Stonebridge Financial Group LLC acquired a new position in shares of Suncor Energy in the fourth quarter valued at approximately $45,000. UMB Bank n.a. boosted its position in Suncor Energy by 27.5% during the 4th quarter. UMB Bank n.a. now owns 1,389 shares of the oil and gas producer’s stock worth $50,000 after buying an additional 300 shares during the period. Finally, Private Trust Co. NA grew its holdings in Suncor Energy by 50.2% during the 4th 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. Institutional investors own 67.37% of the company’s stock.

Suncor Energy Price Performance

Shares of SU opened at $37.48 on Thursday. The firm has a market cap of $46.37 billion, a PE ratio of 10.86, a price-to-earnings-growth ratio of 2.94 and a beta of 1.11. Suncor Energy Inc. has a 52-week low of $33.81 and a 52-week high of $41.95. The business’s 50 day moving average price is $38.27 and its two-hundred day moving average price is $38.17. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.33.

Suncor Energy (NYSE:SU) (TSE:SU) last released its earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share (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, equities analysts anticipate that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 4th will be paid a $0.399 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $1.60 annualized dividend and a dividend yield of 4.26%. Suncor Energy’s dividend payout ratio is presently 45.51%.

Wall Street Analyst Weigh In

SU has been the topic of a number of recent research reports. Bank of America initiated coverage on shares of Suncor Energy in a report on Wednesday, February 26th. They set a “neutral” rating on the stock. Morgan Stanley downgraded Suncor Energy from an “overweight” rating to an “equal weight” rating in a report on Monday, December 16th. Cibc World Mkts raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 11th. StockNews.com downgraded Suncor Energy from a “buy” rating to a “hold” rating in a research report on Friday, March 14th. Finally, Tudor, Pickering, Holt & Co. upgraded Suncor Energy from a “hold” rating to a “buy” rating in a report on Monday, February 10th. Five analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Suncor Energy presently has an average rating of “Moderate Buy” and a consensus price target of $58.00.

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.