Lincluden Management Ltd. Cuts Stock Holdings in Suncor Energy Inc. $SU

Key Points

• Lincluden Management Ltd. trimmed its stake in Suncor Energy by 3.8% in Q4, selling 21,403 shares and retaining 536,309 shares valued at $23.79 million (2.6% of its portfolio; the stock is its 15th largest holding).
• Wall Street analysts are largely bullish on Suncor, with a consensus rating of “Buy” and an average price target of $72, while several firms raised ratings and targets (e.g., RBC to $89, Goldman to $73, JPMorgan to $54).
• Suncor trades around $65.10 (12‑month range $33.50–$67.76) with a market cap of ~$77.1B and a PE of 18.8, and it pays a quarterly dividend of $0.60 (≈3.7% yield; DPR ~50%).

Lincluden Management Ltd. trimmed its stake in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 3.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 536,309 shares of the oil and gas producer's stock after selling 21,403 shares during the period. Suncor Energy accounts for 2.6% of Lincluden Management Ltd.'s portfolio, making the stock its 15th largest holding. Lincluden Management Ltd.'s holdings in Suncor Energy were worth $23,791,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the stock. Atlantic Edge Private Wealth Management LLC grew its stake in Suncor Energy by 54.9% during the fourth 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. Sagespring Wealth Partners LLC grew its stake in Suncor Energy by 3.8% during the fourth quarter. Sagespring Wealth Partners LLC now owns 6,584 shares of the oil and gas producer's stock valued at $292,000 after acquiring an additional 242 shares in the last quarter. Burney Co. grew its stake in Suncor Energy by 1.3% during the fourth quarter. Burney Co. now owns 20,208 shares of the oil and gas producer's stock valued at $896,000 after acquiring an additional 261 shares in the last quarter. Archford Capital Strategies LLC grew its stake in Suncor Energy by 1.2% during the third quarter. Archford Capital Strategies LLC now owns 23,617 shares of the oil and gas producer's stock valued at $987,000 after acquiring an additional 272 shares in the last quarter. Finally, Richardson Financial Services Inc. grew its stake in Suncor Energy by 64.1% during the third 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. 67.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. 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 research note on Wednesday, April 1st. Zacks Research raised shares of Suncor Energy from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 2nd. JPMorgan Chase & Co. raised 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 research note on Tuesday, January 20th. ATB Cormark Capital Markets raised shares of Suncor Energy from a "hold" rating to a "moderate buy" rating in a research note on Wednesday, April 1st. Finally, The Goldman Sachs Group increased their price objective on shares of Suncor Energy from $66.00 to $73.00 and gave the company a "buy" rating in a research report on Wednesday, April 1st. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $72.00.

Suncor Energy Price Performance

SU stock opened at $65.10 on Wednesday. Suncor Energy Inc. has a 12 month low of $33.50 and a 12 month high of $67.76. The company has a current ratio of 1.39, a quick ratio of 0.89 and a debt-to-equity ratio of 0.20. The company has a 50-day moving average price of $61.56 and a 200 day moving average price of $51.20. The stock has a market cap of $77.09 billion, a PE ratio of 18.76 and a beta of 0.32.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last announced its quarterly earnings data on Tuesday, February 3rd. The oil and gas producer reported $0.79 earnings per share for the quarter, beating analysts' consensus estimates of $0.77 by $0.02. Suncor Energy had a net margin of 11.99% and a return on equity of 12.51%. The company had revenue of $8.77 billion during the quarter, compared to analyst estimates of $8.79 billion. During the same quarter last year, the business posted $1.25 EPS. Equities research analysts anticipate that Suncor Energy Inc. will post 5.72 earnings per share for the current year.

Suncor Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 25th. Investors 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 yield of 3.7%. Suncor Energy's dividend payout ratio (DPR) is presently 50.43%.

About Suncor Energy

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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