Candriam S.C.A. Sells 1,512 Shares of Suncor Energy Inc. (NYSE:SU)

Candriam S.C.A. cut its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 13.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,146 shares of the oil and gas producer’s stock after selling 1,512 shares during the quarter. Candriam S.C.A.’s holdings in Suncor Energy were worth $362,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Toronto Dominion Bank boosted its stake in Suncor Energy by 1.8% in the 3rd quarter. Toronto Dominion Bank now owns 18,546,207 shares of the oil and gas producer’s stock worth $684,726,000 after purchasing an additional 333,440 shares during the period. CIBC Asset Management Inc boosted its stake in Suncor Energy by 1.3% in the 3rd quarter. CIBC Asset Management Inc now owns 13,942,455 shares of the oil and gas producer’s stock worth $516,728,000 after purchasing an additional 180,533 shares during the period. Principal Financial Group Inc. boosted its stake in Suncor Energy by 39.9% in the 4th quarter. Principal Financial Group Inc. now owns 9,706,616 shares of the oil and gas producer’s stock worth $346,298,000 after purchasing an additional 2,767,043 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Suncor Energy by 23.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,695,560 shares of the oil and gas producer’s stock worth $357,827,000 after purchasing an additional 1,829,936 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Suncor Energy by 7.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,891,596 shares of the oil and gas producer’s stock worth $220,955,000 after purchasing an additional 413,797 shares during the period. 67.37% of the stock is currently owned by institutional investors.

Suncor Energy Stock Performance

NYSE:SU opened at $35.66 on Tuesday. The stock’s fifty day moving average is $38.29 and its 200 day moving average is $38.37. Suncor Energy Inc. has a fifty-two week low of $33.81 and a fifty-two week high of $41.95. The firm has a market capitalization of $44.11 billion, a PE ratio of 10.33, a PEG ratio of 2.94 and a beta of 1.11. 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 quarterly earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share for the quarter, beating 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, sell-side analysts anticipate 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 paid a $0.399 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $1.60 dividend on an annualized basis and a yield of 4.48%. Suncor Energy’s payout ratio is 45.51%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SU. Morgan Stanley downgraded Suncor Energy from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 16th. Tudor Pickering upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 10th. Cibc World Mkts upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 11th. Bank of America initiated coverage on Suncor Energy in a research report on Wednesday, February 26th. They set a “neutral” rating for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $66.00 target price on shares of Suncor Energy in a research report on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Suncor Energy has a consensus rating of “Moderate Buy” and a consensus price target of $58.00.

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.