Montrusco Bolton Investments Inc. Trims Holdings in Suncor Energy Inc. $SU

Key Points

• Montrusco Bolton trimmed its stake in Suncor Energy by 15% in Q4, selling 86,948 shares and finishing the period with 494,481 shares worth about $21.98 million.
• Research analysts have a consensus Buy rating on Suncor with a $72 price target, and firms including Goldman Sachs recently raised targets and upgraded the stock (Goldman to $73, buy).
• Suncor trades around $64, has a market cap of ~$75.8 billion and a P/E of 18.46, and pays a quarterly dividend of $0.60 (annualized $2.40) for roughly a 3.7% yield.

Montrusco Bolton Investments Inc. lessened its holdings in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 15.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 494,481 shares of the oil and gas producer's stock after selling 86,948 shares during the period. Montrusco Bolton Investments Inc.'s holdings in Suncor Energy were worth $21,976,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Atlantic Edge Private Wealth Management LLC increased its holdings in Suncor Energy by 54.9% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 635 shares of the oil and gas producer's stock valued at $28,000 after purchasing an additional 225 shares during the period. Sagespring Wealth Partners LLC increased its holdings in Suncor Energy by 3.8% during the 4th quarter. Sagespring Wealth Partners LLC now owns 6,584 shares of the oil and gas producer's stock valued at $292,000 after purchasing an additional 242 shares during the period. Burney Co. increased its holdings in Suncor Energy by 1.3% during the 4th quarter. Burney Co. now owns 20,208 shares of the oil and gas producer's stock valued at $896,000 after purchasing an additional 261 shares during the period. Archford Capital Strategies LLC increased its holdings in Suncor Energy by 1.2% during the 3rd quarter. Archford Capital Strategies LLC now owns 23,617 shares of the oil and gas producer's stock valued at $987,000 after purchasing an additional 272 shares during the period. Finally, Richardson Financial Services Inc. increased its holdings in Suncor Energy by 64.1% during the 3rd quarter. Richardson Financial Services Inc. now owns 704 shares of the oil and gas producer's stock valued at $29,000 after purchasing an additional 275 shares during the period. Hedge funds and other institutional investors own 67.37% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on SU shares. The Goldman Sachs Group upped their target price on Suncor Energy from $66.00 to $73.00 and gave the stock a "buy" rating in a report on Wednesday, April 1st. ATB Cormark Capital Markets upgraded Suncor Energy from a "hold" rating to a "moderate buy" rating in a report on Wednesday, April 1st. Weiss Ratings reissued a "buy (b)" rating on shares of Suncor Energy in a research report on Monday, December 29th. Zacks Research raised Suncor Energy from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 2nd. Finally, Wall Street Zen cut Suncor Energy from a "buy" rating to a "hold" rating in a research report on Sunday, December 28th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Suncor Energy has a consensus rating of "Buy" and a consensus price target of $72.00.

Suncor Energy Stock Performance

Shares of SU opened at $64.04 on Friday. The business's fifty day simple moving average is $61.19 and its two-hundred day simple moving average is $50.71. The company has a current ratio of 1.39, a quick ratio of 0.89 and a debt-to-equity ratio of 0.20. Suncor Energy Inc. has a 12 month low of $33.50 and a 12 month high of $67.76. The company has a market cap of $75.84 billion, a price-to-earnings ratio of 18.46 and a beta of 0.32.

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

Suncor Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 25th. Investors of record on Wednesday, March 4th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend was Wednesday, March 4th. Suncor Energy's dividend payout ratio (DPR) is currently 50.72%.

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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