Montrusco Bolton Investments Inc. Acquires Shares of 604,407 Suncor Energy Inc. (NYSE:SU)

Montrusco Bolton Investments Inc. purchased a new stake in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 604,407 shares of the oil and gas producer's stock, valued at approximately $23,399,000.

Other hedge funds have also made changes to their positions in the company. Hanson & Doremus Investment Management boosted its position in Suncor Energy by 143.5% during the 1st 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 stake in shares of Suncor Energy by 97.6% during the 1st 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. bought a new stake in Suncor Energy during the 4th quarter valued at approximately $35,000. Lee Danner & Bass Inc. bought a new stake in Suncor Energy during the 4th quarter valued at approximately $36,000. Finally, Covestor Ltd raised its holdings in Suncor Energy by 30.5% in the 4th quarter. Covestor Ltd now owns 1,095 shares of the oil and gas producer's stock valued at $39,000 after acquiring an additional 256 shares in the last quarter. Hedge funds and other institutional investors own 67.37% of the company's stock.

Suncor Energy Stock Down 0.7%

NYSE SU traded down $0.26 during trading hours on Friday, hitting $38.83. The company's stock had a trading volume of 3,205,791 shares, compared to its average volume of 4,486,389. Suncor Energy Inc. has a 52 week low of $30.79 and a 52 week high of $41.95. The company has a market capitalization of $47.47 billion, a PE ratio of 11.19, a price-to-earnings-growth ratio of 3.37 and a beta of 0.80. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. The company's 50-day simple moving average is $37.73 and its two-hundred day simple moving average is $37.28.

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. The business had revenue of $9.10 billion during the quarter, compared to analyst estimates of $13.39 billion. Suncor Energy had a net margin of 11.95% and a return on equity of 14.90%. During the same period in the previous year, the business earned $1.41 EPS. Research analysts anticipate that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Wednesday, June 4th were issued a $0.4133 dividend. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $1.65 annualized dividend and a yield of 4.26%. This is a boost from Suncor Energy's previous quarterly dividend of $0.40. Suncor Energy's dividend payout ratio (DPR) is currently 47.84%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered 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, five have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Suncor Energy currently has an average rating of "Moderate Buy" and a consensus price target of $66.00.

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.