Rempart Asset Management Inc. Increases Stake in Suncor Energy Inc. (NYSE:SU)

Rempart Asset Management Inc. boosted its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 1.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 590,437 shares of the oil and gas producer’s stock after purchasing an additional 8,695 shares during the period. Suncor Energy comprises 3.6% of Rempart Asset Management Inc.’s investment portfolio, making the stock its 15th largest position. Rempart Asset Management Inc.’s holdings in Suncor Energy were worth $17,332,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of SU. Maryland State Retirement & Pension System increased its stake in shares of Suncor Energy by 351.2% during the second quarter. Maryland State Retirement & Pension System now owns 202,277 shares of the oil and gas producer’s stock valued at $5,936,000 after buying an additional 157,443 shares during the period. Cardinal Capital Management Inc. increased its stake in shares of Suncor Energy by 0.8% during the second quarter. Cardinal Capital Management Inc. now owns 3,951,710 shares of the oil and gas producer’s stock valued at $116,002,000 after buying an additional 30,013 shares during the period. SG Americas Securities LLC increased its stake in shares of Suncor Energy by 27.8% during the second quarter. SG Americas Securities LLC now owns 180,652 shares of the oil and gas producer’s stock valued at $5,297,000 after buying an additional 39,288 shares during the period. Nexus Investment Management ULC increased its stake in shares of Suncor Energy by 0.6% during the second quarter. Nexus Investment Management ULC now owns 675,578 shares of the oil and gas producer’s stock valued at $19,831,000 after buying an additional 3,909 shares during the period. Finally, Independence Bank of Kentucky purchased a new position in shares of Suncor Energy during the second quarter valued at approximately $59,000. 60.25% of the stock is owned by hedge funds and other institutional investors.

Suncor Energy Stock Performance

Shares of NYSE:SU traded up $0.36 during midday trading on Friday, reaching $35.09. 7,873,397 shares of the company’s stock traded hands, compared to its average volume of 4,844,917. The company has a market cap of $45.65 billion, a price-to-earnings ratio of 10.41, a P/E/G ratio of 0.82 and a beta of 1.27. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.76 and a current ratio of 1.18. Suncor Energy Inc. has a one year low of $26.42 and a one year high of $37.23. The stock has a 50 day moving average of $31.85 and a 200 day moving average of $30.84.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings results on Monday, August 14th. The oil and gas producer reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.12. The firm had revenue of $8.72 billion for the quarter, compared to the consensus estimate of $7.89 billion. Suncor Energy had a return on equity of 20.19% and a net margin of 11.30%. As a group, equities research analysts anticipate that Suncor Energy Inc. will post 3.56 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 25th. Shareholders of record on Friday, September 1st will be issued a $0.393 dividend. This is an increase from Suncor Energy’s previous quarterly dividend of $0.38. The ex-dividend date is Thursday, August 31st. This represents a $1.57 dividend on an annualized basis and a yield of 4.48%. Suncor Energy’s dividend payout ratio is currently 45.70%.

Analyst Upgrades and Downgrades

SU has been the topic of several research analyst reports. BMO Capital Markets cut Suncor Energy from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 13th. Wells Fargo & Company raised Suncor Energy from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $44.00 to $54.00 in a report on Wednesday, August 23rd. UBS Group initiated coverage on Suncor Energy in a report on Wednesday, July 12th. They issued a “buy” rating on the stock. Finally, StockNews.com initiated coverage on Suncor Energy in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Suncor Energy currently has an average rating of “Hold” and a consensus price target of $53.67.

Suncor Energy Company Profile

Suncor Energy Inc operates as an integrated energy company in Canada 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. This segment also engages in syncrude oil sands mining and upgrading operations; and marketing, supply, transportation, and risk management of crude oil, natural gas, power, and byproducts.