Lincluden Management Ltd. Sells 12,671 Shares of Suncor Energy Inc. $SU

Lincluden Management Ltd. reduced its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 2.0% in the second quarter, Holdings Channel.com reports. The fund owned 605,589 shares of the oil and gas producer’s stock after selling 12,671 shares during the quarter. Suncor Energy comprises about 2.5% of Lincluden Management Ltd.’s portfolio, making the stock its 16th largest holding. Lincluden Management Ltd.’s holdings in Suncor Energy were worth $22,664,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. Ascent Group LLC increased its holdings in Suncor Energy by 4.7% during the 2nd quarter. Ascent Group LLC now owns 5,769 shares of the oil and gas producer’s stock worth $216,000 after purchasing an additional 260 shares during the period. IFP Advisors Inc increased its holdings in Suncor Energy by 27.6% during the 2nd quarter. IFP Advisors Inc now owns 1,428 shares of the oil and gas producer’s stock worth $53,000 after purchasing an additional 309 shares during the period. Sagespring Wealth Partners LLC increased its holdings in Suncor Energy by 5.8% during the 1st quarter. Sagespring Wealth Partners LLC now owns 6,065 shares of the oil and gas producer’s stock worth $235,000 after purchasing an additional 332 shares during the period. Winthrop Capital Management LLC increased its holdings in Suncor Energy by 2.6% during the 1st quarter. Winthrop Capital Management LLC now owns 13,654 shares of the oil and gas producer’s stock worth $529,000 after purchasing an additional 352 shares during the period. Finally, Salem Investment Counselors Inc. increased its holdings in Suncor Energy by 97.6% during the 1st quarter. Salem Investment Counselors Inc. now owns 820 shares of the oil and gas producer’s stock worth $32,000 after purchasing an additional 405 shares during the period. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Suncor Energy Trading Down 2.1%

Shares of NYSE:SU opened at $39.53 on Friday. Suncor Energy Inc. has a 12-month low of $30.79 and a 12-month high of $43.48. The business’s fifty day simple moving average is $40.70 and its 200-day simple moving average is $38.25. The company has a market capitalization of $47.79 billion, a PE ratio of 12.16, a P/E/G ratio of 3.20 and a beta of 0.78. The company has a current ratio of 1.26, a quick ratio of 0.77 and a debt-to-equity ratio of 0.19.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings results on Tuesday, August 5th. The oil and gas producer reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.01. Suncor Energy had a return on equity of 13.21% and a net margin of 11.35%.The business had revenue of $8.81 billion for the quarter, compared to the consensus estimate of $11.56 billion. During the same period last year, the business posted $1.27 EPS. As a group, equities research analysts predict that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Thursday, September 4th were paid a dividend of $0.4135 per share. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.41. The ex-dividend date was Thursday, September 4th. This represents a $1.65 annualized dividend and a yield of 4.2%. Suncor Energy’s dividend payout ratio (DPR) is presently 51.08%.

Analyst Ratings Changes

Several research analysts have commented on the company. Royal Bank Of Canada restated an “outperform” rating and set a $65.00 price objective on shares of Suncor Energy in a report on Friday, October 3rd. Weiss Ratings restated a “hold (c+)” rating on shares of Suncor Energy in a report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Suncor Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.00.

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.