Triasima Portfolio Management inc. Sells 2,200 Shares of Suncor Energy Inc. (NYSE:SU)

Triasima Portfolio Management inc. reduced its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 3.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 68,000 shares of the oil and gas producer’s stock after selling 2,200 shares during the quarter. Triasima Portfolio Management inc.’s holdings in Suncor Energy were worth $2,426,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of SU. Toronto Dominion Bank boosted its stake in Suncor Energy by 1.8% in the third quarter. Toronto Dominion Bank now owns 18,546,207 shares of the oil and gas producer’s stock valued at $684,726,000 after acquiring an additional 333,440 shares during the last quarter. CIBC Asset Management Inc boosted its stake in Suncor Energy by 1.3% in the third quarter. CIBC Asset Management Inc now owns 13,942,455 shares of the oil and gas producer’s stock valued at $516,728,000 after acquiring an additional 180,533 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Suncor Energy by 23.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,695,560 shares of the oil and gas producer’s stock valued at $357,827,000 after acquiring an additional 1,829,936 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Suncor Energy by 23.0% in the third quarter. Principal Financial Group Inc. now owns 6,939,573 shares of the oil and gas producer’s stock valued at $256,429,000 after acquiring an additional 1,296,142 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Suncor Energy by 7.6% in the third quarter. Geode Capital Management LLC now owns 5,891,596 shares of the oil and gas producer’s stock valued at $220,955,000 after acquiring an additional 413,797 shares during the last quarter. 67.37% of the stock is owned by institutional investors.

Suncor Energy Trading Down 0.7 %

Shares of NYSE SU opened at $38.44 on Friday. The company’s fifty day moving average is $37.65 and its 200-day moving average is $38.54. The stock has a market cap of $47.84 billion, a price-to-earnings ratio of 8.37, a P/E/G ratio of 2.89 and a beta of 1.12. Suncor Energy Inc. has a twelve month low of $31.25 and a twelve month high of $41.94. The company has a quick ratio of 1.04, a current ratio of 1.59 and a debt-to-equity ratio of 0.24.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings data on Wednesday, February 5th. The oil and gas producer reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.07. Suncor Energy had a net margin of 15.19% and a return on equity of 15.67%. Equities research analysts predict that Suncor Energy Inc. will post 3.7 EPS for the current year.

Suncor Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 4th will be issued a dividend of $0.399 per share. The ex-dividend date is Tuesday, March 4th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.15%. Suncor Energy’s payout ratio is 35.08%.

Wall Street Analysts Forecast Growth

SU has been the topic of a number of recent research reports. StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Desjardins raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Morgan Stanley cut shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 16th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $66.00 price target on shares of Suncor Energy in a research report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Suncor Energy currently has a consensus rating of “Moderate Buy” and an average price target of $58.00.

Suncor Energy 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.