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

Louisbourg Investments Inc. reduced its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 14.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm 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 SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Swiss Life Asset Management Ltd increased its holdings in Suncor Energy by 35.0% in the third quarter. Swiss Life Asset Management Ltd now owns 101,192 shares of the oil and gas producer’s stock worth $4,240,000 after purchasing an additional 26,252 shares in the last quarter. Picton Mahoney Asset Management boosted its holdings in shares of Suncor Energy by 314.8% during the 3rd quarter. Picton Mahoney Asset Management now owns 627,313 shares of the oil and gas producer’s stock worth $26,246,000 after buying an additional 476,077 shares in the last quarter. Intact Investment Management Inc. boosted its holdings in shares of Suncor Energy by 36.3% during the 4th quarter. Intact Investment Management Inc. now owns 1,695,160 shares of the oil and gas producer’s stock worth $75,236,000 after buying an additional 451,110 shares in the last quarter. American Century Companies Inc. grew its position in shares of Suncor Energy by 2.1% during the 3rd quarter. American Century Companies Inc. now owns 896,556 shares of the oil and gas producer’s stock worth $37,519,000 after buying an additional 18,231 shares during the period. Finally, Cantor Fitzgerald L. P. acquired a new stake in shares of Suncor Energy during the 3rd quarter worth approximately $1,067,000. 67.37% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SU. Zacks Research downgraded shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 1st. ATB Cormark Capital Markets upgraded shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a report on Wednesday, April 1st. Wall Street Zen downgraded shares of Suncor Energy from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 7th. Weiss Ratings upgraded shares of Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday. Finally, Royal Bank Of Canada increased their price objective on shares of Suncor Energy from $75.00 to $89.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 1st. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Suncor Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.67.

Suncor Energy Price Performance

Shares of NYSE SU opened at $53.87 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.92 and a current ratio of 1.42. Suncor Energy Inc. has a fifty-two week low of $37.22 and a fifty-two week high of $70.29. The stock has a market cap of $63.60 billion, a PE ratio of 14.14 and a beta of 0.27. The stock has a fifty day moving average of $63.17 and a 200-day moving average of $57.17.

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). The company had revenue of $10.41 billion for the quarter, compared to analysts’ expectations of $9.22 billion. Suncor Energy had a return on equity of 13.96% and a net margin of 12.29%.During the same period last year, the company posted $1.31 EPS. Equities research analysts anticipate that Suncor Energy Inc. will post 7.07 earnings per share for the current year.

Suncor Energy Dividend Announcement

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

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.