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

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

Several other hedge funds also recently added to or reduced their stakes in SU. Sanctuary Advisors LLC increased its holdings in shares of Suncor Energy by 32.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 82,204 shares of the oil and gas producer's stock valued at $3,035,000 after purchasing an additional 20,081 shares in the last quarter. Intech Investment Management LLC increased its holdings in Suncor Energy by 1,345.8% in the third quarter. Intech Investment Management LLC now owns 468,415 shares of the oil and gas producer's stock valued at $17,309,000 after buying an additional 436,016 shares in the last quarter. Aigen Investment Management LP acquired a new position in shares of Suncor Energy in the third quarter worth about $1,376,000. DRW Securities LLC acquired a new stake in shares of Suncor Energy during the 3rd quarter valued at about $1,151,000. Finally, Mediolanum International Funds Ltd increased its stake in shares of Suncor Energy by 22.5% in the 3rd quarter. Mediolanum International Funds Ltd now owns 250,849 shares of the oil and gas producer's stock valued at $9,245,000 after purchasing an additional 46,155 shares in the last quarter. 67.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on SU shares. Morgan Stanley lowered shares of Suncor Energy from an "overweight" rating to an "equal weight" rating in a research report on Monday, December 16th. Royal Bank of Canada reiterated an "outperform" rating and set a $66.00 price objective on shares of Suncor Energy in a research note on Tuesday. Desjardins raised Suncor Energy from a "hold" rating to a "buy" rating in a research note on Thursday, November 14th. Finally, StockNews.com cut shares of Suncor Energy from a "buy" rating to a "hold" rating in a research note on Thursday, December 26th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $58.00.

Suncor Energy Trading Down 0.1 %

Shares of NYSE SU traded down $0.04 during trading on Wednesday, hitting $38.29. 4,508,443 shares of the company were exchanged, compared to its average volume of 3,672,709. 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 12-month low of $31.03 and a 12-month high of $41.94. The company has a fifty day moving average price of $37.96 and a 200-day moving average price of $38.46. The firm has a market capitalization of $47.94 billion, a PE ratio of 8.34, a P/E/G ratio of 2.43 and a beta of 1.12.

Suncor Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 24th. Investors of record on Tuesday, December 3rd were issued a $0.4089 dividend. The ex-dividend date was Tuesday, December 3rd. This is a boost from Suncor Energy's previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a yield of 4.27%. Suncor Energy's dividend payout ratio is currently 36.60%.

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.