Intact Investment Management Inc. Raises Stock Position in Suncor Energy Inc. (NYSE:SU)

Intact Investment Management Inc. grew its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 12.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,649,414 shares of the oil and gas producer’s stock after buying an additional 285,050 shares during the quarter. Suncor Energy makes up 3.4% of Intact Investment Management Inc.’s portfolio, making the stock its 3rd largest position. Intact Investment Management Inc. owned about 0.21% of Suncor Energy worth $84,881,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SU. Vanguard Group Inc. raised its holdings in shares of Suncor Energy by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 50,379,614 shares of the oil and gas producer’s stock valued at $1,732,051,000 after purchasing an additional 731,163 shares during the period. Ninepoint Partners LP bought a new stake in shares of Suncor Energy in the 3rd quarter valued at about $77,355,000. JPMorgan Chase & Co. grew its stake in Suncor Energy by 13.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,348,348 shares of the oil and gas producer’s stock valued at $183,876,000 after buying an additional 628,262 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in Suncor Energy by 1,689.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 565,339 shares of the oil and gas producer’s stock valued at $18,118,000 after buying an additional 533,754 shares during the last quarter. Finally, FMR LLC grew its stake in Suncor Energy by 0.3% in the 3rd quarter. FMR LLC now owns 17,248,932 shares of the oil and gas producer’s stock valued at $593,188,000 after buying an additional 49,765 shares during the last quarter. 67.37% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SU has been the topic of a number of research reports. StockNews.com upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. Morgan Stanley upped their price target on shares of Suncor Energy from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $52.00.

Suncor Energy Stock Performance

Shares of NYSE:SU traded down $0.03 on Friday, reaching $39.41. 2,564,634 shares of the company’s stock were exchanged, compared to its average volume of 3,993,987. The company has a fifty day moving average of $36.44 and a 200-day moving average of $33.90. Suncor Energy Inc. has a twelve month low of $27.59 and a twelve month high of $39.63. The company has a market capitalization of $50.73 billion, a price-to-earnings ratio of 8.39, a PEG ratio of 3.48 and a beta of 1.13. The company has a current ratio of 1.44, a quick ratio of 0.88 and a debt-to-equity ratio of 0.26.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings results on Wednesday, February 21st. The oil and gas producer reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.13. The business had revenue of $10.39 billion for the quarter, compared to analyst estimates of $8.46 billion. Suncor Energy had a net margin of 16.33% and a return on equity of 16.08%. During the same quarter last year, the business posted $1.33 EPS. On average, research analysts predict that Suncor Energy Inc. will post 3.78 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Monday, March 4th were paid a $0.406 dividend. This is an increase from Suncor Energy’s previous quarterly dividend of $0.39. The ex-dividend date was Friday, March 1st. This represents a $1.62 annualized dividend and a yield of 4.12%. Suncor Energy’s dividend payout ratio is presently 34.26%.

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.