Intact Investment Management Inc. Sells 842,860 Shares of Suncor Energy Inc. (NYSE:SU)

Intact Investment Management Inc. decreased its holdings in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 39.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,288,324 shares of the oil and gas producer's stock after selling 842,860 shares during the quarter. Suncor Energy comprises about 1.7% of Intact Investment Management Inc.'s portfolio, making the stock its 15th biggest position. Intact Investment Management Inc. owned approximately 0.10% of Suncor Energy worth $49,891,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Suncor Energy by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 53,019,357 shares of the oil and gas producer's stock worth $1,892,526,000 after purchasing an additional 323,714 shares in the last quarter. Artisan Partners Limited Partnership boosted its position in shares of Suncor Energy by 0.7% in the 4th quarter. Artisan Partners Limited Partnership now owns 24,289,019 shares of the oil and gas producer's stock worth $865,885,000 after purchasing an additional 169,700 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Suncor Energy by 0.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 23,308,055 shares of the oil and gas producer's stock worth $831,631,000 after purchasing an additional 209,447 shares in the last quarter. Toronto Dominion Bank boosted its position in shares of Suncor Energy by 3.0% in the 4th quarter. Toronto Dominion Bank now owns 19,098,225 shares of the oil and gas producer's stock worth $680,847,000 after purchasing an additional 552,018 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Suncor Energy by 4.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 10,981,927 shares of the oil and gas producer's stock worth $391,809,000 after acquiring an additional 445,613 shares during the period. Institutional investors and hedge funds own 67.37% of the company's stock.

Suncor Energy Stock Performance

NYSE SU opened at $40.17 on Friday. The stock has a 50-day simple moving average of $36.23 and a two-hundred day simple moving average of $36.96. The firm has a market capitalization of $49.11 billion, a P/E ratio of 11.58, a PEG ratio of 3.48 and a beta of 0.79. Suncor Energy Inc. has a fifty-two week low of $30.79 and a fifty-two week high of $41.95. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.39.

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

Suncor Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Wednesday, June 4th will be paid a $0.4133 dividend. This represents a $1.65 annualized dividend and a dividend yield of 4.12%. The ex-dividend date of this dividend is Wednesday, June 4th. This is a positive change from Suncor Energy's previous quarterly dividend of $0.40. Suncor Energy's payout ratio is currently 47.84%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SU. Bank of America began coverage on Suncor Energy in a research report on Wednesday, February 26th. They set a "neutral" rating for the company. Wall Street Zen cut Suncor Energy from a "buy" rating to a "hold" rating in a research report on Thursday, April 17th. Finally, Scotiabank raised Suncor Energy to a "hold" rating in a research report on Wednesday, March 19th. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Suncor Energy has a consensus rating of "Moderate Buy" and an average target price 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.

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