Intact Investment Management Inc. Has $84.88 Million Stake in Suncor Energy Inc. (NYSE:SU)

Intact Investment Management Inc. grew its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 12.1% in the 4th quarter, Holdings Channel reports. The firm owned 2,649,414 shares of the oil and gas producer’s stock after purchasing an additional 285,050 shares during the period. Suncor Energy makes up about 3.4% of Intact Investment Management Inc.’s portfolio, making the stock its 3rd biggest position. Intact Investment Management Inc.’s holdings in Suncor Energy were worth $84,881,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in SU. Arlington Trust Co LLC purchased a new stake in shares of Suncor Energy in the 3rd quarter worth about $29,000. Optiver Holding B.V. purchased a new stake in shares of Suncor Energy in the 3rd quarter worth about $29,000. Headinvest LLC purchased a new stake in shares of Suncor Energy in the 3rd quarter worth about $40,000. Private Trust Co. NA grew its position in shares of Suncor Energy by 38.4% in the 3rd quarter. Private Trust Co. NA now owns 1,222 shares of the oil and gas producer’s stock worth $42,000 after buying an additional 339 shares during the period. Finally, Bruce G. Allen Investments LLC purchased a new stake in shares of Suncor Energy in the 4th quarter worth about $46,000. 67.37% of the stock is currently owned by institutional investors.

Suncor Energy Stock Performance

Shares of NYSE SU traded down $0.03 during trading on Friday, reaching $39.41. 2,564,634 shares of the company traded hands, compared to its average volume of 3,993,987. The firm has a 50 day simple moving average of $36.44 and a 200-day simple moving average of $33.90. The company has a quick ratio of 0.88, a current ratio of 1.44 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $50.73 billion, a PE ratio of 8.39, a P/E/G ratio of 3.48 and a beta of 1.13. Suncor Energy Inc. has a 52-week low of $27.59 and a 52-week high of $39.63.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings results on Wednesday, February 21st. The oil and gas producer reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.13. The firm had revenue of $10.39 billion for the quarter, compared to the consensus estimate 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 firm posted $1.33 EPS. Equities research analysts anticipate that Suncor Energy Inc. will post 3.78 earnings per share for the current year.

Suncor Energy Increases Dividend

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

Analysts Set New Price Targets

SU has been the topic of several recent analyst reports. StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. Morgan Stanley increased their price objective on shares of Suncor Energy from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Three equities 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 has an average rating of “Moderate Buy” and an average price target of $52.00.

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.