Louisbourg Investments Inc. Sells 14,359 Shares of Suncor Energy Inc. $SU

Louisbourg Investments Inc. reduced its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 14.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 82,220 shares of the oil and gas producer’s stock after selling 14,359 shares during the period. Louisbourg Investments Inc.’s holdings in Suncor Energy were worth $5,427,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Atlantic Edge Private Wealth Management LLC lifted its stake in Suncor Energy by 54.9% in 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 last quarter. 1 North Wealth Services LLC bought a new stake in shares of Suncor Energy during the fourth quarter worth $32,000. Headlands Technologies LLC acquired a new position in shares of Suncor Energy during the second quarter worth $31,000. Accent Capital Management LLC lifted its stake in shares of Suncor Energy by 37.5% in the 4th quarter. Accent Capital Management LLC now owns 825 shares of the oil and gas producer’s stock valued at $37,000 after acquiring an additional 225 shares during the last quarter. Finally, Maseco LLP bought a new position in shares of Suncor Energy in the 4th quarter valued at $39,000. 67.37% of the stock is owned by institutional investors.

Suncor Energy Trading Down 0.9%

NYSE SU opened at $53.87 on Friday. The firm has a market capitalization of $63.60 billion, a PE ratio of 14.14 and a beta of 0.27. The business’s 50-day moving average price is $63.17 and its two-hundred day moving average price is $57.17. The company has a current ratio of 1.42, a quick ratio of 0.92 and a debt-to-equity ratio of 0.20. Suncor Energy Inc. has a 12 month low of $37.22 and a 12 month high of $70.29.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). Suncor Energy had a return on equity of 13.96% and a net margin of 12.29%.The company had revenue of $10.41 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter last year, the business earned $1.31 earnings per share. On average, analysts expect that Suncor Energy Inc. will post 7.07 EPS for the current year.

Suncor Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th were issued a dividend of $0.60 per share. The ex-dividend date was Thursday, June 4th. This represents a $2.40 annualized dividend and a yield of 4.5%. Suncor Energy’s dividend payout ratio (DPR) is presently 45.67%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SU. Wall Street Zen lowered Suncor Energy from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 7th. The Goldman Sachs Group downgraded Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 target price for the company. in a research report on Friday, June 5th. Zacks Research lowered Suncor Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 1st. Royal Bank Of Canada boosted their price target on Suncor Energy from $75.00 to $89.00 and gave the stock an “outperform” rating in a report on Wednesday, April 1st. Finally, Weiss Ratings raised Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $71.67.

Suncor Energy Company Profile

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.