Royal London Asset Management Ltd. Has $74.99 Million Position in Suncor Energy Inc. (NYSE:SU)

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

A number of other large investors have also recently made changes to their positions in the business. HHM Wealth Advisors LLC increased its position 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 acquiring an additional 325 shares in the last quarter. Golden State Wealth Management LLC acquired a new position in Suncor Energy during the 4th quarter valued at about $39,000. Stonebridge Financial Group LLC bought a new stake in Suncor Energy during the 4th quarter worth approximately $45,000. UMB Bank n.a. raised its stake in shares of 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 purchasing an additional 300 shares during the last quarter. Finally, Private Trust Co. NA lifted its holdings 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 valued at $61,000 after purchasing an additional 570 shares in the last quarter. 67.37% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on SU. Bank of America assumed coverage on Suncor Energy in a report on Wednesday, February 26th. They set a “neutral” rating for the company. Morgan Stanley lowered shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 16th. Tudor Pickering raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 10th. Cibc World Mkts raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 11th. Finally, StockNews.com downgraded Suncor Energy from a “buy” rating to a “hold” rating in a research note on Friday, March 14th. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $58.00.

Suncor Energy Stock Performance

NYSE:SU opened at $37.48 on Thursday. The company has a market capitalization of $46.37 billion, a P/E ratio of 10.86, a P/E/G ratio of 2.94 and a beta of 1.11. The business has a fifty day simple moving average of $38.27 and a two-hundred day simple moving average of $38.17. 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.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share 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, analysts expect 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 of this dividend is Tuesday, March 4th. This represents a $1.60 dividend on an annualized basis and a yield of 4.26%. Suncor Energy’s payout ratio 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.