Rempart Asset Management Inc. Sells 15,965 Shares of Suncor Energy Inc. (NYSE:SU)

Rempart Asset Management Inc. reduced its holdings in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 3.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 511,632 shares of the oil and gas producer’s stock after selling 15,965 shares during the period. Suncor Energy comprises 3.6% of Rempart Asset Management Inc.’s portfolio, making the stock its 18th largest holding. Rempart Asset Management Inc.’s holdings in Suncor Energy were worth $18,221,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its holdings in Suncor Energy by 5.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,134,149 shares of the oil and gas producer’s stock worth $956,850,000 after purchasing an additional 1,209,073 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Suncor Energy by 1.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 23,048,048 shares of the oil and gas producer’s stock worth $878,131,000 after acquiring an additional 366,432 shares during the last quarter. Toronto Dominion Bank lifted its holdings in shares of Suncor Energy by 1.8% in the 3rd 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 increased its position in Suncor Energy by 1.3% during 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. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of 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 worth $357,827,000 after buying an additional 1,829,936 shares during the period. 67.37% of the stock is currently owned by institutional investors.

Suncor Energy Price Performance

Suncor Energy stock traded down $0.11 during trading on Wednesday, reaching $38.22. The company had a trading volume of 414,847 shares, compared to its average volume of 2,825,695. The firm has a market capitalization of $47.86 billion, a PE ratio of 8.33, a price-to-earnings-growth ratio of 2.43 and a beta of 1.12. The firm’s 50-day simple moving average is $37.96 and its 200 day simple moving average is $38.46. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.04 and a current ratio of 1.59. Suncor Energy Inc. has a 1-year low of $31.03 and a 1-year high of $41.94.

Suncor Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 3rd were paid a dividend of $0.4089 per share. The ex-dividend date was Tuesday, December 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.28%. This is a boost from Suncor Energy’s previous quarterly dividend of $0.40. Suncor Energy’s payout ratio is currently 36.60%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SU. Royal Bank of Canada reissued an “outperform” rating and set a $66.00 target price on shares of Suncor Energy in a research note on Tuesday. Morgan Stanley downgraded shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 16th. StockNews.com lowered Suncor Energy from a “buy” rating to a “hold” rating in a report on Thursday, December 26th. Finally, Desjardins upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.