Rempart Asset Management Inc. Decreases Stake in Suncor Energy Inc. (NYSE:SU)

Rempart Asset Management Inc. lessened its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 3.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 511,632 shares of the oil and gas producer’s stock after selling 15,965 shares during the quarter. Suncor Energy makes up approximately 3.6% of Rempart Asset Management Inc.’s portfolio, making the stock its 18th biggest position. Rempart Asset Management Inc.’s holdings in Suncor Energy were worth $18,221,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Cullen Investment Group LTD. grew its position in shares of Suncor Energy by 0.8% in the 3rd quarter. Cullen Investment Group LTD. now owns 33,106 shares of the oil and gas producer’s stock worth $1,222,000 after buying an additional 262 shares during the last quarter. Richardson Financial Services Inc. boosted its holdings in Suncor Energy by 82.8% in the second quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer’s stock valued at $28,000 after acquiring an additional 328 shares in the last quarter. Coldstream Capital Management Inc. increased its position in Suncor Energy by 5.0% during the 3rd quarter. Coldstream Capital Management Inc. now owns 7,486 shares of the oil and gas producer’s stock valued at $276,000 after purchasing an additional 354 shares during the period. Atomi Financial Group Inc. raised its holdings in Suncor Energy by 3.2% in the 3rd quarter. Atomi Financial Group Inc. now owns 13,464 shares of the oil and gas producer’s stock worth $497,000 after purchasing an additional 416 shares in the last quarter. Finally, TD Private Client Wealth LLC lifted its position in shares of Suncor Energy by 2.7% in the 3rd quarter. TD Private Client Wealth LLC now owns 18,646 shares of the oil and gas producer’s stock worth $688,000 after purchasing an additional 487 shares during the period. Institutional investors own 67.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SU. StockNews.com cut shares of Suncor Energy from a “buy” rating to a “hold” rating in a research report on Thursday, December 26th. Royal Bank of Canada reissued an “outperform” rating and issued a $66.00 target price on shares of Suncor Energy in a research report on Tuesday. Desjardins upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Finally, Morgan Stanley downgraded Suncor Energy from an “overweight” rating to an “equal weight” rating in a report on Monday, December 16th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $58.00.

Suncor Energy Stock Down 0.3 %

Shares of SU traded down $0.11 during trading hours on Wednesday, hitting $38.22. The company had a trading volume of 414,847 shares, compared to its average volume of 2,825,695. The stock has a market capitalization of $47.86 billion, a price-to-earnings ratio of 8.33, a P/E/G ratio of 2.43 and a beta of 1.12. The firm has a fifty day moving average price of $37.96 and a 200-day moving average price of $38.46. Suncor Energy Inc. has a 52-week low of $31.03 and a 52-week high of $41.94. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.04 and a current ratio of 1.59.

Suncor Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd were issued a $0.4089 dividend. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.28%. Suncor Energy’s dividend payout ratio (DPR) is presently 36.60%.

About Suncor Energy

Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.