As Suncor Energy INC (SU) Market Valuation Rose, Pcj Investment Counsel LTD Trimmed Position by $5.40 Million

July 16, 2018 - By Palma Niemeyer

Suncor Energy Inc. (NYSE:SU) Logo

Pcj Investment Counsel Ltd decreased its stake in Suncor Energy Inc. (SU) by 8.32% based on its latest 2018Q1 regulatory filing with the SEC. Pcj Investment Counsel Ltd sold 158,680 shares as the company’s stock rose 12.56% while stock markets declined. The institutional investor held 1.75 million shares of the integrated oil company at the end of 2018Q1, valued at $60.33 million, down from 1.91M at the end of the previous reported quarter. Pcj Investment Counsel Ltd who had been investing in Suncor Energy Inc. for a number of months, seems to be less bullish one the $67.92 billion market cap company. The stock decreased 2.34% or $0.98 during the last trading session, reaching $40.93. About 1.54M shares traded. Suncor Energy Inc. (NYSE:SU) has risen 25.18% since July 16, 2017 and is uptrending. It has outperformed by 12.61% the S&P500.

Pcj Investment Counsel Ltd, which manages about $1.44 billion US Long portfolio, upped its stake in Bank Of Nova Scotia (NYSE:BNS) by 169,480 shares to 1.89M shares, valued at $116.35M in 2018Q1, according to the filing. It also increased its holding in Brookfield Asset Management Inc. (NYSE:BAM) by 407,460 shares in the quarter, for a total of 1.54 million shares, and has risen its stake in Canadian Pacific Railway Ltd. (NYSE:CP).

Analysts await Suncor Energy Inc. (NYSE:SU) to report earnings on July, 25. They expect $0.49 EPS, up 444.44 % or $0.40 from last year’s $0.09 per share. SU’s profit will be $813.08 million for 20.88 P/E if the $0.49 EPS becomes a reality. After $0.48 actual EPS reported by Suncor Energy Inc. for the previous quarter, Wall Street now forecasts 2.08 % EPS growth.

More news for Suncor Energy Inc. (NYSE:SU) were recently published by: Seekingalpha.com, which released: “Suncor, Husky execs downplay Canada pipeline constraints” on July 10, 2018. Globenewswire.com‘s article titled: “Suncor provides update on Syncrude recovery plan” and published on July 09, 2018 is yet another important article.

Suncor Energy Inc. (NYSE:SU) Ratings Coverage

Among 6 analysts covering Suncor Energy Inc (NYSE:SU), 6 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Suncor Energy Inc had 9 analyst reports since January 23, 2018 according to SRatingsIntel. The company was upgraded on Friday, February 9 by JP Morgan. Morgan Stanley maintained it with “Overweight” rating and $54 target in Monday, April 16 report. Piper Jaffray maintained the shares of SU in report on Tuesday, January 23 with “Buy” rating. Morgan Stanley maintained Suncor Energy Inc. (NYSE:SU) rating on Wednesday, May 23. Morgan Stanley has “Overweight” rating and $65 target. Piper Jaffray maintained it with “Buy” rating and $4700 target in Sunday, April 22 report. The firm has “Buy” rating by Piper Jaffray given on Friday, February 9. The stock of Suncor Energy Inc. (NYSE:SU) earned “Buy” rating by Bank of America on Thursday, April 5. As per Friday, February 9, the company rating was upgraded by TD Securities.

Suncor Energy Inc. (NYSE:SU) Ratings Chart

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