Intact Investment Management Inc. Increases Position in Suncor Energy Inc. $SU

Intact Investment Management Inc. raised its holdings in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 36.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,695,160 shares of the oil and gas producer's stock after acquiring an additional 451,110 shares during the quarter. Suncor Energy makes up 2.2% of Intact Investment Management Inc.'s investment portfolio, making the stock its 11th largest position. Intact Investment Management Inc. owned approximately 0.14% of Suncor Energy worth $75,236,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Atlantic Edge Private Wealth Management LLC increased its holdings in Suncor Energy by 54.9% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 635 shares of the oil and gas producer's stock valued at $28,000 after acquiring an additional 225 shares in the last quarter. Richardson Financial Services Inc. increased its holdings in Suncor Energy by 64.1% during the 3rd quarter. Richardson Financial Services Inc. now owns 704 shares of the oil and gas producer's stock valued at $29,000 after acquiring an additional 275 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in Suncor Energy by 95.8% during the 3rd quarter. Smartleaf Asset Management LLC now owns 793 shares of the oil and gas producer's stock valued at $33,000 after acquiring an additional 388 shares in the last quarter. Headlands Technologies LLC purchased a new position in Suncor Energy during the 2nd quarter valued at about $31,000. Finally, Maseco LLP purchased a new position in Suncor Energy during the 4th quarter valued at about $39,000. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on SU. Zacks Research upgraded shares of Suncor Energy from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 2nd. The Goldman Sachs Group raised their target price on shares of Suncor Energy from $66.00 to $73.00 and gave the company a "buy" rating in a report on Wednesday, April 1st. ATB Cormark Capital Markets upgraded shares of Suncor Energy from a "hold" rating to a "moderate buy" rating in a report on Wednesday, April 1st. JPMorgan Chase & Co. upgraded shares of Suncor Energy from a "neutral" rating to an "overweight" rating and raised their target price for the company from $46.15 to $54.00 in a report on Tuesday, January 20th. Finally, Royal Bank Of Canada raised their target price on shares of Suncor Energy from $75.00 to $89.00 and gave the company an "outperform" rating in a report on Wednesday, April 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $72.00.

Suncor Energy Stock Performance

Shares of NYSE SU opened at $67.58 on Monday. The company has a market cap of $80.03 billion, a PE ratio of 19.48 and a beta of 0.31. Suncor Energy Inc. has a 12 month low of $33.50 and a 12 month high of $68.62. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.39 and a quick ratio of 0.89. The company has a 50-day simple moving average of $62.02 and a 200-day simple moving average of $51.59.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last issued 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 business had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.79 billion. Suncor Energy had a net margin of 11.99% and a return on equity of 12.51%. During the same period in the previous year, the firm posted $1.25 earnings per share. On average, equities analysts anticipate that Suncor Energy Inc. will post 6.72 earnings per share for the current year.

Suncor Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 4th were issued a dividend of $0.60 per share. The ex-dividend date was Wednesday, March 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.6%. Suncor Energy's payout ratio is 50.72%.

Suncor Energy 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.

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