Triasima Portfolio Management inc. Invests $25.53 Million in Suncor Energy Inc. (NYSE:SU)

Triasima Portfolio Management inc. bought a new stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 670,000 shares of the oil and gas producer’s stock, valued at approximately $25,528,000. Suncor Energy accounts for 2.3% of Triasima Portfolio Management inc.’s investment portfolio, making the stock its 14th largest holding. Triasima Portfolio Management inc. owned about 0.05% of Suncor Energy at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Johnson Financial Group Inc. acquired a new position in shares of Suncor Energy during the fourth quarter worth $25,000. Richardson Financial Services Inc. acquired a new stake in shares of Suncor Energy during the 4th quarter worth about $25,000. Trust Co. of Vermont purchased a new stake in Suncor Energy during the second quarter worth approximately $26,000. Summit Securities Group LLC acquired a new position in Suncor Energy in the second quarter valued at approximately $27,000. Finally, Ridgewood Investments LLC purchased a new position in Suncor Energy in the second quarter valued at approximately $29,000. 67.37% of the stock is owned by institutional investors and hedge funds.

Suncor Energy Stock Performance

Shares of NYSE:SU traded down $0.68 during midday trading on Friday, hitting $37.32. The stock had a trading volume of 3,978,464 shares, compared to its average volume of 4,201,919. The company has a market capitalization of $47.83 billion, a PE ratio of 8.31, a P/E/G ratio of 2.61 and a beta of 1.13. Suncor Energy Inc. has a 1 year low of $29.45 and a 1 year high of $41.94. The stock has a 50 day moving average price of $39.18 and a two-hundred day moving average price of $38.16. The company has a current ratio of 1.46, a quick ratio of 0.93 and a debt-to-equity ratio of 0.26.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.51. Suncor Energy had a return on equity of 16.22% and a net margin of 14.40%. The company had revenue of $12.90 billion for the quarter, compared to analyst estimates of $9.30 billion. During the same quarter in the previous year, the company earned $0.71 EPS. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. As a group, equities analysts predict that Suncor Energy Inc. will post 3.71 earnings per share for the current fiscal year.

Suncor Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be given a dividend of $0.395 per share. The ex-dividend date is Wednesday, September 4th. This represents a $1.58 dividend on an annualized basis and a dividend yield of 4.23%. Suncor Energy’s payout ratio is 34.97%.

Analyst Ratings Changes

SU has been the subject of several research analyst reports. Scotiabank lowered their target price on shares of Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Wolfe Research initiated coverage on shares of Suncor Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $68.00 target price on the stock. The Goldman Sachs Group upped their price target on shares of Suncor Energy from $38.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Finally, BMO Capital Markets raised shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $54.86.

Suncor Energy Company 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.