Montrusco Bolton Investments Inc. Sells 35,744 Shares of Suncor Energy Inc. $SU

Montrusco Bolton Investments Inc. decreased its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 5.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 581,429 shares of the oil and gas producer’s stock after selling 35,744 shares during the period. Montrusco Bolton Investments Inc.’s holdings in Suncor Energy were worth $24,337,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Fox Run Management L.L.C. bought a new stake in shares of Suncor Energy during the 3rd quarter valued at about $566,000. MAI Capital Management raised its stake in Suncor Energy by 7.9% in the third quarter. MAI Capital Management now owns 7,240 shares of the oil and gas producer’s stock valued at $303,000 after purchasing an additional 528 shares in the last quarter. Compound Planning Inc. raised its stake in Suncor Energy by 6.9% in the third quarter. Compound Planning Inc. now owns 15,406 shares of the oil and gas producer’s stock valued at $644,000 after purchasing an additional 990 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in Suncor Energy by 10.5% during the third quarter. EverSource Wealth Advisors LLC now owns 2,947 shares of the oil and gas producer’s stock valued at $123,000 after purchasing an additional 280 shares during the last quarter. Finally, Intelligence Driven Advisers LLC purchased a new position in Suncor Energy in the 3rd quarter worth approximately $228,000. 67.37% of the stock is currently owned by institutional investors.

Suncor Energy Price Performance

Shares of SU stock opened at $55.70 on Thursday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.89 and a current ratio of 1.39. Suncor Energy Inc. has a fifty-two week low of $30.79 and a fifty-two week high of $57.13. The firm has a market cap of $66.28 billion, a P/E ratio of 16.05 and a beta of 0.46. The business’s 50 day moving average price is $49.93 and its 200-day moving average price is $44.53.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings results on Tuesday, February 3rd. The oil and gas producer reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.02. The company had revenue of $8.77 billion during the quarter, compared to analyst estimates of $8.79 billion. Suncor Energy had a return on equity of 12.51% and a net margin of 11.99%.During the same quarter last year, the firm posted $1.25 earnings per share. On average, equities research analysts anticipate that Suncor Energy Inc. will post 3.42 earnings per share for the current year.

Suncor Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Wednesday, March 4th will be given a dividend of $0.60 per share. The ex-dividend date is Wednesday, March 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.3%. Suncor Energy’s payout ratio is currently 49.57%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on SU shares. The Goldman Sachs Group raised their price objective on shares of Suncor Energy from $48.00 to $54.00 and gave the company a “buy” rating in a research report on Friday, January 23rd. Wall Street Zen downgraded Suncor Energy from a “buy” rating to a “hold” rating in a research report on Sunday, December 28th. Zacks Research lowered Suncor Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of Suncor Energy in a research report on Monday, December 29th. Finally, Raymond James Financial upgraded Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 6th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $61.00.

Suncor Energy Company Profile

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.