Montrusco Bolton Investments Inc. Sells 16,089 Shares of Suncor Energy Inc. $SU

Montrusco Bolton Investments Inc. trimmed its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 3.3% in the 1st quarter, HoldingsChannel reports. The firm owned 478,392 shares of the oil and gas producer’s stock after selling 16,089 shares during the period. Montrusco Bolton Investments Inc.’s holdings in Suncor Energy were worth $31,541,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. QRG Capital Management Inc. raised its holdings in Suncor Energy by 42.3% in the 1st quarter. QRG Capital Management Inc. now owns 7,235 shares of the oil and gas producer’s stock worth $478,000 after purchasing an additional 2,149 shares during the period. HB Wealth Management LLC increased its position in Suncor Energy by 6.2% in the first quarter. HB Wealth Management LLC now owns 18,113 shares of the oil and gas producer’s stock worth $1,197,000 after buying an additional 1,063 shares in the last quarter. Private Advisor Group LLC increased its position in Suncor Energy by 7.8% in the first quarter. Private Advisor Group LLC now owns 38,254 shares of the oil and gas producer’s stock worth $2,529,000 after buying an additional 2,784 shares in the last quarter. Blue Capital Inc. bought a new position in shares of Suncor Energy in the first quarter worth about $3,468,000. Finally, Mitchell & Pahl Private Wealth LLC raised its stake in shares of Suncor Energy by 0.8% in the first quarter. Mitchell & Pahl Private Wealth LLC now owns 24,278 shares of the oil and gas producer’s stock worth $1,605,000 after buying an additional 190 shares during the period. 67.37% of the stock is owned by institutional investors.

Suncor Energy Stock Performance

NYSE SU opened at $55.02 on Friday. The firm has a market cap of $64.96 billion, a price-to-earnings ratio of 14.44 and a beta of 0.30. The company has a quick ratio of 0.92, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. The business has a 50-day moving average price of $62.34 and a 200-day moving average price of $57.52. Suncor Energy Inc. has a twelve month low of $37.55 and a twelve month high of $70.29.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.45 by ($0.04). Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. The business had revenue of $10.41 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same period last year, the business posted $1.31 EPS. As a group, equities research analysts predict that Suncor Energy Inc. will post 7.07 EPS for the current fiscal year.

Suncor Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th were given a dividend of $0.60 per share. The ex-dividend date was Thursday, June 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.4%. Suncor Energy’s dividend payout ratio (DPR) is presently 45.41%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. The Goldman Sachs Group downgraded Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price objective for the company. in a research note on Friday, June 5th. ATB Cormark Capital Markets upgraded shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, April 1st. Wall Street Zen downgraded shares of Suncor Energy from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 7th. Royal Bank Of Canada upped their price target 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. Finally, Scotiabank raised shares of Suncor Energy to a “strong-buy” rating in a research note on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price 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.