Suncor Energy Inc. (NYSE:SU) Shares Sold by Intact Investment Management Inc.

Intact Investment Management Inc. reduced its holdings in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 39.5% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,288,324 shares of the oil and gas producer's stock after selling 842,860 shares during the quarter. Suncor Energy accounts for about 1.7% of Intact Investment Management Inc.'s investment portfolio, making the stock its 15th largest position. Intact Investment Management Inc. owned 0.10% of Suncor Energy worth $49,891,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of SU. Hanson & Doremus Investment Management boosted its stake in shares of Suncor Energy by 143.5% during the first quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer's stock valued at $31,000 after purchasing an additional 465 shares during the period. Salem Investment Counselors Inc. boosted its holdings in Suncor Energy by 97.6% in the first quarter. Salem Investment Counselors Inc. now owns 820 shares of the oil and gas producer's stock worth $32,000 after acquiring an additional 405 shares in the last quarter. Crowley Wealth Management Inc. purchased a new stake in Suncor Energy during the 4th quarter valued at about $35,000. Lee Danner & Bass Inc. bought a new position in Suncor Energy in the 4th quarter valued at approximately $36,000. Finally, Covestor Ltd boosted its position in shares of Suncor Energy by 30.5% during the fourth quarter. Covestor Ltd now owns 1,095 shares of the oil and gas producer's stock valued at $39,000 after buying an additional 256 shares during the last quarter. Institutional investors own 67.37% of the company's stock.

Suncor Energy Stock Down 1.8%

Shares of SU traded down $0.69 during trading hours on Tuesday, hitting $38.29. The company had a trading volume of 4,703,060 shares, compared to its average volume of 4,454,569. Suncor Energy Inc. has a one year low of $30.79 and a one year high of $41.95. The company's fifty day moving average price is $36.34 and its two-hundred day moving average price is $36.94. The company has a market capitalization of $46.81 billion, a PE ratio of 11.03, a price-to-earnings-growth ratio of 3.39 and a beta of 0.79. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last posted its quarterly earnings results on Tuesday, May 6th. The oil and gas producer reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.86 by $0.05. Suncor Energy had a net margin of 11.95% and a return on equity of 14.90%. The business had revenue of $9.10 billion during the quarter, compared to analysts' expectations of $13.39 billion. During the same quarter last year, the company posted $1.41 earnings per share. As a group, equities analysts forecast that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Wednesday, June 4th will be given a dividend of $0.4133 per share. This is an increase from Suncor Energy's previous quarterly dividend of $0.40. This represents a $1.65 annualized dividend and a yield of 4.32%. The ex-dividend date of this dividend is Wednesday, June 4th. Suncor Energy's dividend payout ratio (DPR) is currently 47.84%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Scotiabank upgraded shares of Suncor Energy to a "hold" rating in a research report on Wednesday, March 19th. Bank of America started coverage on Suncor Energy in a research note on Wednesday, February 26th. They set a "neutral" rating for the company. Finally, Wall Street Zen lowered shares of Suncor Energy from a "buy" rating to a "hold" rating in a research note on Thursday, April 17th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Suncor Energy has a consensus rating of "Moderate Buy" and an average price target of $64.67.

Suncor Energy Company Profile

Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.