Louisbourg Investments Inc. Trims Stock Position in Suncor Energy Inc. $SU

Louisbourg Investments Inc. lessened its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 18.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,931 shares of the oil and gas producer’s stock after selling 14,463 shares during the period. Louisbourg Investments Inc.’s holdings in Suncor Energy were worth $2,675,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Ascent Group LLC lifted its holdings in shares of Suncor Energy by 4.7% in the 2nd quarter. Ascent Group LLC now owns 5,769 shares of the oil and gas producer’s stock valued at $216,000 after purchasing an additional 260 shares during the last quarter. IFP Advisors Inc increased its position in Suncor Energy by 27.6% during the second quarter. IFP Advisors Inc now owns 1,428 shares of the oil and gas producer’s stock worth $53,000 after buying an additional 309 shares during the period. Transamerica Financial Advisors LLC lifted its stake in Suncor Energy by 18.4% in the second quarter. Transamerica Financial Advisors LLC now owns 2,081 shares of the oil and gas producer’s stock valued at $78,000 after buying an additional 323 shares during the last quarter. Allworth Financial LP lifted its stake in Suncor Energy by 29.0% in the second quarter. Allworth Financial LP now owns 2,021 shares of the oil and gas producer’s stock valued at $76,000 after buying an additional 454 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Suncor Energy by 21.1% in the second quarter. EverSource Wealth Advisors LLC now owns 2,667 shares of the oil and gas producer’s stock valued at $100,000 after acquiring an additional 464 shares during the period. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Suncor Energy Stock Up 0.8%

SU stock opened at $42.74 on Friday. Suncor Energy Inc. has a one year low of $30.79 and a one year high of $45.60. The stock has a market capitalization of $51.36 billion, a PE ratio of 14.01 and a beta of 0.46. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.85 and a current ratio of 1.35. The company has a fifty day moving average of $42.34 and a 200-day moving average of $40.70.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings results on Tuesday, November 4th. The oil and gas producer reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.22. The business had revenue of $9.04 billion for the quarter, compared to analyst estimates of $8.82 billion. Suncor Energy had a net margin of 10.61% and a return on equity of 13.01%. During the same period in the previous year, the business posted $1.48 earnings per share. As a group, analysts expect that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 24th. Shareholders of record on Wednesday, December 3rd will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 5.6%. The ex-dividend date is Wednesday, December 3rd. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.41. Suncor Energy’s payout ratio is presently 56.39%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on SU shares. Zacks Research cut shares of Suncor Energy from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 15th. Weiss Ratings restated a “buy (b)” rating on shares of Suncor Energy in a research note on Monday. Wells Fargo & Company assumed coverage on shares of Suncor Energy in a report on Friday, October 17th. They issued an “equal weight” rating for the company. Royal Bank Of Canada reiterated an “outperform” rating and set a $65.00 target price on shares of Suncor Energy in a research note on Friday, October 3rd. Finally, Raymond James Financial upgraded Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 6th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $65.00.

About Suncor Energy

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company’s operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.