Barings LLC Cuts Stock Position in Suncor Energy Inc. (NYSE:SU)

Barings LLC lessened its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 59.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 554,886 shares of the oil and gas producer’s stock after selling 825,984 shares during the quarter. Suncor Energy makes up about 0.5% of Barings LLC’s portfolio, making the stock its 24th biggest holding. Barings LLC’s holdings in Suncor Energy were worth $19,792,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Principal Securities Inc. raised its stake in shares of Suncor Energy by 2.2% in the 4th quarter. Principal Securities Inc. now owns 12,423 shares of the oil and gas producer’s stock valued at $443,000 after acquiring an additional 265 shares during the period. UMB Bank n.a. increased its stake 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. Wealth Enhancement Advisory Services LLC increased its stake in Suncor Energy by 0.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 112,925 shares of the oil and gas producer’s stock worth $4,169,000 after buying an additional 321 shares during the period. HHM Wealth Advisors LLC increased its stake in Suncor Energy by 62.1% during the 4th quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer’s stock worth $30,000 after buying an additional 325 shares during the period. Finally, Wilmington Savings Fund Society FSB increased its stake in Suncor Energy by 11.9% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 3,142 shares of the oil and gas producer’s stock worth $112,000 after buying an additional 333 shares during the period. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Suncor Energy Price Performance

Shares of SU stock opened at $35.81 on Friday. Suncor Energy Inc. has a 1-year low of $33.81 and a 1-year high of $41.94. The firm has a fifty day moving average of $38.29 and a two-hundred day moving average of $38.41. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.33 and a quick ratio of 0.86. The firm has a market cap of $44.30 billion, a P/E ratio of 10.38, a P/E/G ratio of 2.94 and a beta of 1.11.

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

Suncor Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 4th will be issued a $0.399 dividend. This represents a $1.60 annualized dividend and a dividend yield of 4.46%. The ex-dividend date of this dividend is Tuesday, March 4th. Suncor Energy’s dividend payout ratio (DPR) is presently 45.51%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Bank of America assumed coverage on shares of Suncor Energy in a research note on Wednesday, February 26th. They set a “neutral” rating on the stock. Desjardins raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $66.00 price target on shares of Suncor Energy in a research note on Tuesday, January 7th. Tudor, Pickering, Holt & Co. raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Monday, February 10th. Finally, StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus 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.