Suncor Energy Inc. $SU Stock: Triasima Portfolio Management inc. Grows Stake

Triasima Portfolio Management inc. lifted its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 43.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 58,466 shares of the oil and gas producer’s stock after purchasing an additional 17,681 shares during the quarter. Triasima Portfolio Management inc.’s holdings in Suncor Energy were worth $3,974,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Valeo Financial Advisors LLC increased its holdings in Suncor Energy by 1.6% in the 3rd quarter. Valeo Financial Advisors LLC now owns 10,239 shares of the oil and gas producer’s stock valued at $695,000 after buying an additional 166 shares during the period. Formidable Asset Management LLC boosted its holdings in shares of Suncor Energy by 1.1% in the 1st quarter. Formidable Asset Management LLC now owns 16,004 shares of the oil and gas producer’s stock valued at $1,058,000 after purchasing an additional 171 shares in the last quarter. Mitchell & Pahl Private Wealth LLC boosted its holdings in shares of Suncor Energy by 0.8% in the 1st quarter. Mitchell & Pahl Private Wealth LLC now owns 24,278 shares of the oil and gas producer’s stock valued at $1,605,000 after purchasing an additional 190 shares in the last quarter. DGS Capital Management LLC boosted its holdings in shares of Suncor Energy by 3.2% in the 4th quarter. DGS Capital Management LLC now owns 6,149 shares of the oil and gas producer’s stock valued at $273,000 after purchasing an additional 193 shares in the last quarter. Finally, Sage Investment Counsel LLC increased its stake in shares of Suncor Energy by 2.4% in the 1st quarter. Sage Investment Counsel LLC now owns 8,600 shares of the oil and gas producer’s stock valued at $569,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 67.37% of the company’s stock.

Suncor Energy Stock Down 0.3%

Shares of NYSE SU opened at $75.67 on Friday. The company has a 50 day simple moving average of $68.22 and a 200 day simple moving average of $64.69. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.65 and a quick ratio of 1.08. Suncor Energy Inc. has a 1 year low of $37.76 and a 1 year high of $76.73. The firm has a market cap of $88.50 billion, a PE ratio of 13.93, a price-to-earnings-growth ratio of 0.50 and a beta of 0.36.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its earnings results on Tuesday, August 4th. The oil and gas producer reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.19. Suncor Energy had a net margin of 15.62% and a return on equity of 20.05%. The firm had revenue of $13.41 billion for the quarter, compared to analyst estimates of $11.68 billion. During the same period in the previous year, the firm posted $0.71 EPS. On average, research analysts forecast that Suncor Energy Inc. will post 8.12 EPS for the current year.

Suncor Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 4th were paid a dividend of C$0.60 per share. The ex-dividend date of this dividend was Friday, September 4th. This represents a $2.40 annualized dividend and a dividend yield of 3.2%. Suncor Energy’s dividend payout ratio (DPR) is presently 31.86%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SU. Morgan Stanley set a $106.00 target price on Suncor Energy in a research note on Wednesday, August 19th. Weiss Ratings raised shares of Suncor Energy from a “buy (b)” rating to a “buy (a-)” rating in a report on Thursday, October 8th. Zacks Research upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 5th. Desjardins upgraded shares of Suncor Energy to a “moderate buy” rating in a research note on Thursday, July 16th. Finally, Scotiabank raised shares of Suncor Energy to a “strong-buy” rating in a report on Friday, June 26th. Three research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $79.62.

Suncor Energy Company Profile

Suncor Energy Inc is an integrated energy company headquartered in Calgary, Alberta. Its operations span the development and production of crude oil from Canada’s oil sands, offshore petroleum production, refining, and the marketing and distribution of petroleum products.

The company produces synthetic crude oil, bitumen and conventional crude oil, which are processed through its refining operations into fuels and other refined products. Suncor markets fuel and convenience products through the Petro-Canada retail network and supplies commercial, wholesale and industrial customers.