Montrusco Bolton Investments Inc. Sells 86,948 Shares of Suncor Energy Inc. $SU

Montrusco Bolton Investments Inc. lessened its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 15.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor 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 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of SU. Fisher Asset Management LLC increased its stake in Suncor Energy by 85.5% in the 3rd quarter. Fisher Asset Management LLC now owns 15,530,965 shares of the oil and gas producer’s stock worth $649,350,000 after buying an additional 7,158,953 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Suncor Energy by 62.2% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 13,335,239 shares of the oil and gas producer’s stock worth $557,682,000 after buying an additional 5,113,280 shares in the last quarter. Alyeska Investment Group L.P. increased its stake in Suncor Energy by 334.8% in the 3rd quarter. Alyeska Investment Group L.P. now owns 2,590,863 shares of the oil and gas producer’s stock worth $108,324,000 after buying an additional 1,995,007 shares in the last quarter. Bank of Nova Scotia increased its stake in Suncor Energy by 63.5% in the 3rd quarter. Bank of Nova Scotia now owns 5,028,399 shares of the oil and gas producer’s stock worth $210,474,000 after buying an additional 1,952,444 shares in the last quarter. Finally, Lazard Asset Management LLC increased its stake in Suncor Energy by 173.2% in the 3rd quarter. Lazard Asset Management LLC now owns 3,036,031 shares of the oil and gas producer’s stock worth $126,994,000 after buying an additional 1,924,923 shares in the last quarter. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Analyst Ratings Changes

SU has been the subject of a number of analyst reports. The Goldman Sachs Group increased their price target on Suncor Energy from $66.00 to $73.00 and gave the stock a “buy” rating in a research note on Wednesday, April 1st. ATB Cormark Capital Markets upgraded Suncor Energy from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, April 1st. Wall Street Zen lowered Suncor Energy from a “buy” rating to a “hold” rating in a research note on Sunday, December 28th. JPMorgan Chase & Co. upgraded Suncor Energy from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $46.15 to $54.00 in a research note on Tuesday, January 20th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Suncor Energy in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Suncor Energy has an average rating of “Buy” and a consensus price target of $72.00.

Suncor Energy Stock Performance

Suncor Energy stock opened at $64.04 on Friday. The company has a 50 day moving average price of $61.19 and a 200-day moving average price of $50.71. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.89 and a current ratio of 1.39. Suncor Energy Inc. has a fifty-two week low of $33.50 and a fifty-two week high of $67.76. The company has a market capitalization of $75.84 billion, a PE ratio of 18.46 and a beta of 0.32.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings results on Tuesday, February 3rd. The oil and gas producer reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.02. Suncor Energy had a net margin of 11.99% and a return on equity of 12.51%. The firm had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.79 billion. During the same quarter in the previous year, the firm posted $1.25 earnings per share. As a group, equities analysts forecast that Suncor Energy Inc. will post 5.72 earnings per share for the current year.

Suncor Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 25th. Investors of record on Wednesday, March 4th were paid a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, March 4th. This represents a $2.40 dividend on an annualized basis and a yield of 3.7%. Suncor Energy’s payout ratio is 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.