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

Franklin Resources Inc. cut its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 10.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,258,299 shares of the oil and gas producer’s stock after selling 361,055 shares during the period. Franklin Resources Inc. owned approximately 0.26% of Suncor Energy worth $116,207,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in SU. Principal Securities Inc. increased its stake in shares of Suncor Energy by 2.2% during the fourth quarter. Principal Securities Inc. now owns 12,423 shares of the oil and gas producer’s stock worth $443,000 after acquiring an additional 265 shares during the period. X Square Capital LLC increased its position in Suncor Energy by 0.3% during the 4th quarter. X Square Capital LLC now owns 82,720 shares of the oil and gas producer’s stock worth $2,951,000 after purchasing an additional 267 shares during the period. UMB Bank n.a. raised its stake in shares of 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 in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Suncor Energy by 0.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 112,925 shares of the oil and gas producer’s stock valued at $4,169,000 after buying an additional 321 shares during the period. Finally, HHM Wealth Advisors LLC boosted its stake in shares of Suncor Energy by 62.1% in the fourth quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer’s stock valued at $30,000 after buying an additional 325 shares in the last quarter. 67.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SU has been the subject of a number of recent analyst reports. Bank of America assumed coverage on Suncor Energy in a report on Wednesday, February 26th. They issued a “neutral” rating for the company. Tudor, Pickering, Holt & Co. raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Monday, February 10th. Cibc World Mkts raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 11th. Scotiabank upgraded shares of Suncor Energy to a “hold” rating in a research report on Wednesday, March 19th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $66.00 price target on shares of Suncor Energy in a report on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $59.20.

Suncor Energy Stock Performance

Suncor Energy stock opened at $39.13 on Thursday. 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 Inc. has a fifty-two week low of $33.81 and a fifty-two week high of $41.95. The stock has a fifty day moving average of $38.11 and a two-hundred day moving average of $38.23. The company has a market capitalization of $48.41 billion, a price-to-earnings ratio of 11.34, a PEG ratio of 2.94 and a beta of 1.11.

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 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%. On average, analysts anticipate that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Cuts Dividend

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

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.