Montrusco Bolton Investments Inc. Has $23.07 Million Stock Holdings in Suncor Energy Inc. $SU

Key Points

• Montrusco Bolton Investments Inc. increased its stake in Suncor Energy by 2.1%, now holding 617,173 shares valued at approximately $23.07 million.
• Several hedge funds, including Allspring Global Investments and Vanguard Personalized Indexing, significantly raised their positions in Suncor Energy during the second quarter.
• Suncor Energy recently reported a quarterly dividend increase to $0.4135 per share, resulting in an annualized yield of 4.2%.

Montrusco Bolton Investments Inc. lifted its position in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 2.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 617,173 shares of the oil and gas producer's stock after acquiring an additional 12,766 shares during the period. Montrusco Bolton Investments Inc. owned approximately 0.05% of Suncor Energy worth $23,072,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC raised its position in shares of Suncor Energy by 17.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 496,768 shares of the oil and gas producer's stock valued at $18,793,000 after acquiring an additional 72,824 shares during the period. Vanguard Personalized Indexing Management LLC increased its stake in Suncor Energy by 17.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 72,823 shares of the oil and gas producer's stock worth $2,727,000 after purchasing an additional 10,961 shares in the last quarter. Trust Co. of Toledo NA OH increased its stake in Suncor Energy by 3.0% during the 2nd quarter. Trust Co. of Toledo NA OH now owns 24,194 shares of the oil and gas producer's stock worth $906,000 after purchasing an additional 703 shares in the last quarter. PDS Planning Inc increased its stake in Suncor Energy by 19.2% during the 2nd quarter. PDS Planning Inc now owns 6,542 shares of the oil and gas producer's stock worth $245,000 after purchasing an additional 1,053 shares in the last quarter. Finally, IFP Advisors Inc increased its stake in Suncor Energy by 27.6% during the 2nd quarter. IFP Advisors Inc now owns 1,428 shares of the oil and gas producer's stock worth $53,000 after purchasing an additional 309 shares in the last quarter. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on SU shares. Royal Bank Of Canada reissued an "outperform" rating and set a $65.00 target price on shares of Suncor Energy in a research note on Friday, October 3rd. Weiss Ratings reissued a "hold (c+)" rating on shares of Suncor Energy in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Suncor Energy has an average rating of "Moderate Buy" and an average price target of $65.00.

Suncor Energy Price Performance

Shares of SU opened at $39.53 on Monday. The stock has a market capitalization of $47.79 billion, a P/E ratio of 12.16, a P/E/G ratio of 3.20 and a beta of 0.78. Suncor Energy Inc. has a twelve month low of $30.79 and a twelve month high of $43.48. The company has a 50 day moving average of $40.70 and a 200-day moving average of $38.25. The company has a quick ratio of 0.77, a current ratio of 1.26 and a debt-to-equity ratio of 0.19.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last issued its quarterly earnings results on Tuesday, August 5th. The oil and gas producer reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.01. The company had revenue of $8.81 billion during the quarter, compared to analysts' expectations of $11.56 billion. Suncor Energy had a net margin of 11.35% and a return on equity of 13.21%. During the same period last year, the business earned $1.27 EPS. As a group, equities research analysts forecast that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th were issued a $0.4135 dividend. This represents a $1.65 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend was Thursday, September 4th. This is a boost from Suncor Energy's previous quarterly dividend of $0.41. Suncor Energy's payout ratio is currently 50.77%.

Suncor Energy 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.

Want to see what other hedge funds are holding SU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.