94,928 Suncor Energy Inc. $SU Shares Sold by Montrusco Bolton Investments Inc.

Key Points

• Montrusco Bolton Investments cut its Suncor Energy stake by 32.6%, selling 94,928 shares and retaining 196,042 shares valued at approximately $13.3 million. Institutional investors overall own 67.37% of Suncor.
• Suncor shares rose 2.3% to $75.18, near their 52-week high of $75.55. The company exceeded quarterly earnings expectations, reporting $2.33 EPS versus the $2.14 consensus and revenue of $13.41 billion.
• Suncor declared a quarterly dividend of C$0.60 per share, equivalent to an annualized C$2.40 payout and a 3.2% yield. Analysts maintain an overall “Buy” consensus with an average price target of $79.62.

Montrusco Bolton Investments Inc. lowered its position in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 32.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm 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 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in SU. Arrowstreet Capital Limited Partnership lifted its stake in Suncor Energy by 121.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 26,085,360 shares of the oil and gas producer's stock worth $1,724,954,000 after acquiring an additional 14,304,131 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Suncor Energy during the 2nd quarter valued at about $816,551,000. The Manufacturers Life Insurance Company purchased a new position in Suncor Energy during the 2nd quarter valued at about $790,952,000. Dimensional Fund Advisors LP raised its holdings in shares of Suncor Energy by 3.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 12,609,777 shares of the oil and gas producer's stock valued at $833,622,000 after purchasing an additional 411,243 shares in the last quarter. Finally, TD Waterhouse Canada Inc. raised its holdings in shares of Suncor Energy by 2.1% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 11,657,514 shares of the oil and gas producer's stock valued at $625,497,000 after purchasing an additional 239,208 shares in the last quarter. Hedge funds and other institutional investors own 67.37% of the company's stock.

Suncor Energy Stock Up 2.3%

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

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last issued its quarterly earnings data on Tuesday, August 4th. The oil and gas producer reported $2.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.14 by $0.19. Suncor Energy had a net margin of 15.62% and a return on equity of 20.05%. The firm had revenue of $13.41 billion for the quarter, compared to the consensus estimate of $11.68 billion. During the same quarter in the previous year, the firm earned $0.71 EPS. Equities analysts predict 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 given 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 yield of 3.2%. Suncor Energy's dividend payout ratio is presently 31.86%.

Analyst Ratings Changes

SU has been the topic of several research reports. Morgan Stanley set a $106.00 price objective on shares of Suncor Energy in a report on Wednesday, August 19th. Desjardins upgraded Suncor Energy to a "moderate buy" rating in a report on Thursday, July 16th. Zacks Research upgraded Suncor Energy from a "hold" rating to a "strong-buy" rating in a report on Monday, October 5th. Wall Street Zen cut Suncor Energy from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 1st. Finally, Scotiabank upgraded Suncor Energy to a "strong-buy" rating in a report on Friday, June 26th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, Suncor Energy presently has an average rating of "Buy" and a consensus 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.

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