Louisbourg Investments Inc. Sells 76,116 Shares of Suncor Energy Inc. (NYSE:SU)

Louisbourg Investments Inc. cut its holdings in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 49.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,405 shares of the oil and gas producer’s stock after selling 76,116 shares during the quarter. Louisbourg Investments Inc.’s holdings in Suncor Energy were worth $3,039,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Sagespring Wealth Partners LLC lifted its position 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 valued at $235,000 after acquiring an additional 332 shares in the last quarter. Sowell Financial Services LLC bought a new position in Suncor Energy in the 1st quarter valued at approximately $230,000. Hanson & Doremus Investment Management lifted its position in Suncor Energy by 143.5% in the 1st quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer’s stock valued at $31,000 after acquiring an additional 465 shares in the last quarter. Trust Co. of Toledo NA OH lifted its position in Suncor Energy by 2.2% in the 1st 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 acquiring an additional 510 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Suncor Energy by 2.4% during the 1st 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 buying an additional 5,888 shares during the period. 67.37% of the stock is owned by institutional investors.

Suncor Energy Trading Down 0.7%

NYSE:SU opened at $40.67 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.33 and a quick ratio of 0.86. The firm has a market capitalization of $49.73 billion, a price-to-earnings ratio of 11.79, a price-to-earnings-growth ratio of 2.94 and a beta of 0.79. Suncor Energy Inc. has a one year low of $30.79 and a one year high of $41.95. The business has a fifty day moving average price of $35.68 and a 200-day moving average price of $36.89.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings data on Tuesday, May 6th. The oil and gas producer reported $0.91 EPS for the quarter, topping the consensus estimate of $0.86 by $0.05. The firm had revenue of $9.10 billion during the quarter, compared to analyst estimates of $13.39 billion. Suncor Energy had a return on equity of 15.37% and a net margin of 11.80%. During the same period in the prior year, the business posted $1.41 EPS. Sell-side analysts forecast that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Wednesday, June 4th will be paid a $0.4133 dividend. This represents a $1.65 annualized dividend and a dividend yield of 4.06%. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Wednesday, June 4th. Suncor Energy’s dividend payout ratio is 47.55%.

Wall Street Analysts Forecast Growth

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

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.