Suncor Energy Inc. $SU Stock Sold by Montrusco Bolton Investments Inc.

Montrusco Bolton Investments Inc. trimmed its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 32.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 196,042 shares of the oil and gas producer’s stock after selling 94,928 shares during the period. Montrusco Bolton Investments Inc.’s holdings in Suncor Energy were worth $13,325,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in SU. Arrowstreet Capital Limited Partnership increased its position in Suncor Energy by 121.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 26,085,360 shares of the oil and gas producer’s stock valued at $1,724,954,000 after buying an additional 14,304,131 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Suncor Energy by 3.4% in the first quarter. Dimensional Fund Advisors LP now owns 12,609,777 shares of the oil and gas producer’s stock worth $833,622,000 after acquiring an additional 411,243 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Suncor Energy in the second quarter worth about $816,551,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Suncor Energy during the second quarter worth about $790,952,000. Finally, TD Waterhouse Canada Inc. grew its stake in shares of Suncor Energy by 2.1% during the second quarter. TD Waterhouse Canada Inc. now owns 11,657,514 shares of the oil and gas producer’s stock worth $625,497,000 after acquiring an additional 239,208 shares during the last quarter. 67.37% of the stock is owned by institutional investors and hedge funds.

Suncor Energy Stock Performance

SU stock traded up $1.67 during midday trading on Tuesday, reaching $75.18. The stock had a trading volume of 3,692,044 shares, compared to its average volume of 4,653,972. The firm has a fifty day simple moving average of $67.46 and a two-hundred day simple moving average of $64.48. Suncor Energy Inc. has a 52-week low of $37.76 and a 52-week high of $75.55. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.08 and a current ratio of 1.65. The stock has a market cap of $87.93 billion, a PE ratio of 13.85, a P/E/G ratio of 0.47 and a beta of 0.36.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings results on Tuesday, August 4th. The oil and gas producer reported $2.33 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.19. The business had revenue of $13.41 billion for the quarter, compared to the consensus estimate of $11.68 billion. Suncor Energy had a return on equity of 20.05% and a net margin of 15.62%. During the same quarter in the previous year, the business earned $0.71 EPS. As a group, equities research analysts anticipate that Suncor Energy Inc. will post 8.12 EPS for the current year.

Suncor Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 4th were issued a dividend of C$0.60 per share. The ex-dividend date of this dividend was Friday, September 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.2%. Suncor Energy’s payout ratio is 31.86%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on SU shares. Zacks Research upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. Wall Street Zen cut shares of Suncor Energy from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st. Scotiabank raised shares of Suncor Energy to a “strong-buy” rating in a research report on Friday, June 26th. Morgan Stanley set a $106.00 target price on shares of Suncor Energy in a research report on Wednesday, August 19th. Finally, Weiss Ratings upgraded shares of Suncor Energy from a “buy (b)” rating to a “buy (a-)” rating in a research note on Thursday. Three investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $79.62.

Suncor Energy Profile

Suncor Energy Inc is an integrated energy company headquartered in Calgary, Alberta. Its operations span the development and production of crude oil from Canada’s oil sands, offshore petroleum production, refining, and the marketing and distribution of petroleum products.

The company produces synthetic crude oil, bitumen and conventional crude oil, which are processed through its refining operations into fuels and other refined products. Suncor markets fuel and convenience products through the Petro-Canada retail network and supplies commercial, wholesale and industrial customers.