Aigen Investment Management LP Acquires New Position in Suncor Energy Inc. (NYSE:SU)

Key Points

• Aigen Investment Management LP has acquired 16,686 shares of Suncor Energy, valued at approximately $646,000, as part of their recent investment strategy.
• Suncor Energy has increased its quarterly dividend to $0.4135 per share, representing an annualized yield of 4.3%, after previously paying $0.41.
• The company reported earnings per share of $0.51 for the most recent quarter, exceeding analysts' expectations of $0.50, while revenues were below estimates at $8.81 billion.

Aigen Investment Management LP purchased a new position in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 16,686 shares of the oil and gas producer's stock, valued at approximately $646,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Covestor Ltd lifted its holdings in shares of Suncor Energy by 30.5% in the fourth quarter. Covestor Ltd now owns 1,095 shares of the oil and gas producer's stock valued at $39,000 after purchasing an additional 256 shares in the last quarter. Stifel Financial Corp lifted its holdings in shares of Suncor Energy by 0.3% in the fourth quarter. Stifel Financial Corp now owns 95,508 shares of the oil and gas producer's stock valued at $3,408,000 after purchasing an additional 265 shares in the last quarter. Freedom Investment Management Inc. lifted its holdings in shares of Suncor Energy by 2.0% in the fourth quarter. Freedom Investment Management Inc. now owns 15,344 shares of the oil and gas producer's stock valued at $547,000 after purchasing an additional 302 shares in the last quarter. Sagespring Wealth Partners LLC lifted its holdings in shares of Suncor Energy by 5.8% in the first quarter. Sagespring Wealth Partners LLC now owns 6,065 shares of the oil and gas producer's stock valued at $235,000 after purchasing an additional 332 shares in the last quarter. Finally, Winthrop Capital Management LLC lifted its holdings in shares of Suncor Energy by 2.6% in the first quarter. Winthrop Capital Management LLC now owns 13,654 shares of the oil and gas producer's stock valued at $529,000 after purchasing an additional 352 shares in the last quarter. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Suncor Energy Trading Up 0.2%

Shares of SU traded up $0.09 on Wednesday, hitting $38.93. 2,016,735 shares of the stock traded hands, compared to its average volume of 3,286,868. The company has a quick ratio of 0.77, a current ratio of 1.26 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $47.41 billion, a P/E ratio of 11.98, a P/E/G ratio of 3.35 and a beta of 0.84. The stock's 50 day moving average is $38.97 and its two-hundred day moving average is $37.37. Suncor Energy Inc. has a 1 year low of $30.79 and a 1 year high of $41.94.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last announced its quarterly earnings data on Tuesday, August 5th. The oil and gas producer reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.01. The business had revenue of $8.81 billion for the quarter, compared to the consensus estimate of $11.56 billion. Suncor Energy had a net margin of 11.35% and a return on equity of 13.21%. During the same quarter in the prior year, the firm posted $1.27 earnings per share. As a group, sell-side analysts predict that Suncor Energy Inc. will post 3.42 earnings per share for the current year.

Suncor Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be paid a dividend of $0.4135 per share. The ex-dividend date of this dividend is Thursday, September 4th. This is a positive change from Suncor Energy's previous quarterly dividend of $0.41. This represents a $1.65 annualized dividend and a dividend yield of 4.2%. Suncor Energy's payout ratio is currently 51.08%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of Suncor Energy from a "buy" rating to a "hold" rating in a report on Thursday, April 17th. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $66.00.

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.