Franklin Resources Inc. Lowers Holdings in Suncor Energy Inc. (NYSE:SU)

Franklin Resources Inc. reduced its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 10.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,258,299 shares of the oil and gas producer’s stock after selling 361,055 shares during the period. Franklin Resources Inc.’s holdings in Suncor Energy were worth $116,207,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. HHM Wealth Advisors LLC raised its stake in 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. acquired a new stake in shares of Suncor Energy during the 4th quarter worth $35,000. Lee Danner & Bass Inc. purchased a new position in shares of Suncor Energy in the 4th quarter worth $36,000. Golden State Wealth Management LLC acquired a new position in Suncor Energy in the fourth quarter valued at $39,000. Finally, Stonebridge Financial Group LLC purchased a new stake in Suncor Energy during the fourth quarter valued at about $45,000. 67.37% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on SU shares. 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 upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Tuesday. Scotiabank raised shares of Suncor Energy to a “hold” rating in a research note on Wednesday, March 19th. Tudor, Pickering, Holt & Co. raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Monday, February 10th. Finally, Bank of America started coverage on Suncor Energy in a research report on Wednesday, February 26th. They issued a “neutral” rating on the stock. Four 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 company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $59.20.

Suncor Energy Trading Up 0.2 %

NYSE:SU opened at $39.13 on Thursday. The stock has a market cap of $48.41 billion, a price-to-earnings ratio of 11.34, a price-to-earnings-growth ratio of 2.94 and a beta of 1.11. Suncor Energy Inc. has a one year low of $33.81 and a one year high of $41.95. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.33. The business’s 50-day simple moving average is $38.11 and its 200 day simple moving average is $38.23.

Suncor Energy (NYSE:SU) (TSE:SU) last announced 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 return on equity of 15.37% and a net margin of 11.80%. As a group, sell-side analysts predict that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 4th were issued a dividend of $0.399 per share. This represents a $1.60 annualized dividend and a yield of 4.08%. The ex-dividend date of this dividend was Tuesday, March 4th. Suncor Energy’s dividend payout ratio is currently 45.51%.

Suncor Energy Company 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.