Louisbourg Investments Inc. Lowers Stock Position in Suncor Energy Inc. (NYSE:SU)

Louisbourg Investments Inc. reduced its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 1.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 154,521 shares of the oil and gas producer’s stock after selling 1,959 shares during the period. Suncor Energy accounts for about 1.3% of Louisbourg Investments Inc.’s holdings, making the stock its 23rd largest holding. Louisbourg Investments Inc.’s holdings in Suncor Energy were worth $5,513,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Toronto Dominion Bank grew its stake in Suncor Energy by 1.8% during the third quarter. Toronto Dominion Bank now owns 18,546,207 shares of the oil and gas producer’s stock worth $684,726,000 after buying an additional 333,440 shares during the period. CIBC Asset Management Inc lifted its holdings in shares of Suncor Energy by 1.3% during the 3rd quarter. CIBC Asset Management Inc now owns 13,942,455 shares of the oil and gas producer’s stock valued at $516,728,000 after acquiring an additional 180,533 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Suncor Energy by 23.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,695,560 shares of the oil and gas producer’s stock worth $357,827,000 after purchasing an additional 1,829,936 shares during the period. Principal Financial Group Inc. increased its holdings in Suncor Energy by 23.0% in the 3rd quarter. Principal Financial Group Inc. now owns 6,939,573 shares of the oil and gas producer’s stock valued at $256,429,000 after purchasing an additional 1,296,142 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Suncor Energy by 7.6% in the third quarter. Geode Capital Management LLC now owns 5,891,596 shares of the oil and gas producer’s stock valued at $220,955,000 after purchasing an additional 413,797 shares during the period. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Stock Up 2.8 %

Shares of NYSE:SU opened at $40.65 on Wednesday. The firm has a market cap of $50.59 billion, a PE ratio of 11.78, a price-to-earnings-growth ratio of 2.96 and a beta of 1.12. The company has a fifty day simple moving average of $37.67 and a 200 day simple moving average of $38.57. The company has a current ratio of 1.59, a quick ratio of 1.04 and a debt-to-equity ratio of 0.24. Suncor Energy Inc. has a 12-month low of $31.25 and a 12-month high of $41.94.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.07. Suncor Energy had a net margin of 11.80% and a return on equity of 15.33%. On average, equities research analysts anticipate that Suncor Energy Inc. will post 3.25 EPS for the current fiscal year.

Suncor Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 4th will be issued a $0.399 dividend. This represents a $1.60 annualized dividend and a yield of 3.93%. The ex-dividend date is Tuesday, March 4th. Suncor Energy’s dividend payout ratio is currently 46.67%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Desjardins upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $66.00 price objective on shares of Suncor Energy in a research report on Tuesday, January 7th. Tudor, Pickering, Holt & Co. upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Monday. Tudor Pickering upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday. Finally, StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Tuesday, January 14th. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $58.00.

Suncor Energy Profile

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.