Suncor Energy Inc. (NYSE:SU) Holdings Cut by Cigna Investments Inc. New

Cigna Investments Inc. New lowered its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 2.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,524 shares of the oil and gas producer’s stock after selling 566 shares during the quarter. Cigna Investments Inc. New’s holdings in Suncor Energy were worth $839,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of SU. Eastern Bank bought a new position in shares of Suncor Energy during the 3rd quarter worth about $25,000. HHM Wealth Advisors LLC raised its stake 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 buying an additional 325 shares during the last quarter. Golden State Wealth Management LLC bought a new stake in shares of Suncor Energy during the fourth quarter worth approximately $39,000. Stonebridge Financial Group LLC bought a new stake in Suncor Energy in the fourth quarter valued at approximately $45,000. Finally, Waldron Private Wealth LLC bought a new stake in shares of Suncor Energy during the third quarter worth $49,000. Institutional investors own 67.37% of the company’s stock.

Analyst Ratings Changes

SU has been the subject of several recent research reports. Royal Bank of Canada restated an “outperform” rating and set a $66.00 target price on shares of Suncor Energy in a report on Tuesday, January 7th. StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th. Desjardins raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Morgan Stanley downgraded shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 16th. Finally, Tudor, Pickering, Holt & Co. upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Monday. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $58.00.

Suncor Energy Stock Up 2.0 %

SU opened at $39.53 on Tuesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.04 and a current ratio of 1.59. Suncor Energy Inc. has a fifty-two week low of $31.25 and a fifty-two week high of $41.94. The firm’s fifty day moving average is $37.63 and its 200 day moving average is $38.55. The stock has a market cap of $49.19 billion, a price-to-earnings ratio of 11.46, a price-to-earnings-growth ratio of 2.96 and a beta of 1.12.

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 the consensus estimate of $0.82 by $0.07. Suncor Energy had a net margin of 11.80% and a return on equity of 15.33%. On average, sell-side analysts forecast that Suncor Energy Inc. will post 3.25 earnings per share for the current fiscal year.

Suncor Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 4th will be paid a dividend of $0.399 per share. The ex-dividend date is Tuesday, March 4th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.04%. Suncor Energy’s dividend payout ratio is presently 46.67%.

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.