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

Louisbourg Investments Inc. lessened its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 49.3% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 78,405 shares of the oil and gas producer’s stock after selling 76,116 shares during the period. Louisbourg Investments Inc.’s holdings in Suncor Energy were worth $3,039,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Sagespring Wealth Partners LLC increased its stake in Suncor Energy by 5.8% in the 1st quarter. Sagespring Wealth Partners LLC now owns 6,065 shares of the oil and gas producer’s stock worth $235,000 after buying an additional 332 shares in the last quarter. Sowell Financial Services LLC purchased a new position in shares of Suncor Energy during the first quarter valued at about $230,000. Hanson & Doremus Investment Management grew its position in shares of Suncor Energy by 143.5% during the first quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 465 shares in the last quarter. Trust Co. of Toledo NA OH grew its position in shares of Suncor Energy by 2.2% during the first quarter. Trust Co. of Toledo NA OH now owns 23,491 shares of the oil and gas producer’s stock valued at $910,000 after purchasing an additional 510 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of Suncor Energy by 2.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 255,758 shares of the oil and gas producer’s stock valued at $9,903,000 after purchasing an additional 5,888 shares in the last quarter. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Suncor Energy Stock Down 0.7%

Shares of NYSE:SU opened at $40.67 on Tuesday. The company has a current ratio of 1.33, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. Suncor Energy Inc. has a 12 month low of $30.79 and a 12 month high of $41.95. The company has a 50-day moving average price of $35.68 and a 200 day moving average price of $36.89. The company has a market cap of $49.73 billion, a price-to-earnings ratio of 11.79, a PEG ratio of 2.94 and a beta of 0.79.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings results on Tuesday, May 6th. The oil and gas producer reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. The firm had revenue of $9.10 billion during the quarter, compared to the consensus estimate of $13.39 billion. During the same quarter last year, the firm earned $1.41 EPS. As a group, equities research analysts predict that Suncor Energy Inc. will post 3.42 earnings per share for the current year.

Suncor Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Wednesday, June 4th will be issued a $0.4133 dividend. This is an increase from Suncor Energy’s previous quarterly dividend of $0.40. The ex-dividend date is Wednesday, June 4th. This represents a $1.65 dividend on an annualized basis and a dividend yield of 4.06%. Suncor Energy’s dividend payout ratio (DPR) is presently 47.55%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SU. Bank of America began coverage on Suncor Energy in a research report on Wednesday, February 26th. They set a “neutral” rating for the company. Wall Street Zen lowered Suncor Energy from a “buy” rating to a “hold” rating in a research report on Thursday, April 17th. Finally, Scotiabank upgraded Suncor Energy to a “hold” rating in a research report on Wednesday, March 19th. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $64.67.

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.