Intact Investment Management Inc. Acquires 24,730 Shares of Suncor Energy Inc. (NYSE:SU)

Intact Investment Management Inc. increased its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 1.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,131,184 shares of the oil and gas producer’s stock after acquiring an additional 24,730 shares during the period. Suncor Energy comprises 2.7% of Intact Investment Management Inc.’s investment portfolio, making the stock its 5th biggest holding. Intact Investment Management Inc. owned 0.17% of Suncor Energy worth $76,062,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Toronto Dominion Bank raised its holdings in shares of Suncor Energy by 1.8% in the 3rd quarter. Toronto Dominion Bank now owns 18,546,207 shares of the oil and gas producer’s stock worth $684,726,000 after acquiring an additional 333,440 shares during the last quarter. CIBC Asset Management Inc raised its holdings in shares of Suncor Energy by 1.3% in the 3rd quarter. CIBC Asset Management Inc now owns 13,942,455 shares of the oil and gas producer’s stock worth $516,728,000 after acquiring an additional 180,533 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Suncor Energy by 4.5% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,132,812 shares of the oil and gas producer’s stock valued at $361,227,000 after buying an additional 437,252 shares during the last quarter. Principal Financial Group Inc. increased its stake in Suncor Energy by 39.9% in the 4th quarter. Principal Financial Group Inc. now owns 9,706,616 shares of the oil and gas producer’s stock valued at $346,298,000 after buying an additional 2,767,043 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Suncor Energy by 7.6% in the 3rd 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 buying an additional 413,797 shares during the last quarter. Institutional investors and hedge funds own 67.37% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on SU shares. Morgan Stanley lowered shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 16th. Bank of America started coverage on shares of Suncor Energy in a research note on Wednesday, February 26th. They issued a “neutral” rating for the company. Tudor Pickering upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 10th. StockNews.com lowered shares of Suncor Energy from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Desjardins upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.00.

Suncor Energy Stock Up 0.3 %

Suncor Energy stock opened at $35.85 on Friday. The firm has a 50 day moving average price of $38.28 and a 200-day moving average price of $38.29. The company has a market capitalization of $44.35 billion, a P/E ratio of 10.39, a P/E/G ratio of 2.94 and a beta of 1.11. Suncor Energy Inc. has a twelve month low of $33.81 and a twelve month high of $41.95. The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 0.21.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings data on Wednesday, February 5th. The oil and gas producer reported $0.89 EPS 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 15.37%. As a group, equities analysts predict that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Cuts Dividend

The firm 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 4.45%. The ex-dividend date is Tuesday, March 4th. Suncor Energy’s dividend payout ratio (DPR) is presently 45.51%.

Suncor Energy Company 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.