19,719 Shares in Suncor Energy Inc. (NYSE:SU) Purchased by WealthPlan Investment Management LLC

Key Points

• WealthPlan Investment Management LLC has purchased 19,719 shares of Suncor Energy Inc., adding to a trend of significant institutional investment in the company during the 1st quarter.
• Suncor Energy recently declared a quarterly dividend of $0.4135 per share, reflecting an increase from the previous quarter's dividend, with an annualized yield of 4.2%.
• The company's latest quarterly earnings report showed an EPS of $0.51, exceeding expectations, although revenue fell short of analyst estimates.

WealthPlan Investment Management LLC bought a new position in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 19,719 shares of the oil and gas producer's stock, valued at approximately $764,000.

Several other institutional investors have also recently made changes to their positions in the business. Hanson & Doremus Investment Management grew its holdings in Suncor Energy by 143.5% during the 1st quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer's stock valued at $31,000 after buying an additional 465 shares in the last quarter. Salem Investment Counselors Inc. grew its holdings in Suncor Energy by 97.6% during the 1st quarter. Salem Investment Counselors Inc. now owns 820 shares of the oil and gas producer's stock valued at $32,000 after buying an additional 405 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new position in Suncor Energy during the 1st quarter valued at approximately $36,000. Covestor Ltd grew its holdings in Suncor Energy by 30.5% during the 4th quarter. Covestor Ltd now owns 1,095 shares of the oil and gas producer's stock valued at $39,000 after buying an additional 256 shares in the last quarter. Finally, Wayfinding Financial LLC purchased a new position in Suncor Energy during the 1st quarter valued at approximately $42,000. Hedge funds and other institutional investors own 67.37% of the company's stock.

Suncor Energy Price Performance

NYSE:SU opened at $39.03 on Friday. The firm has a market capitalization of $47.54 billion, a price-to-earnings ratio of 12.01, a PEG ratio of 3.45 and a beta of 0.84. Suncor Energy Inc. has a 1 year low of $30.79 and a 1 year high of $41.94. The business has a 50 day simple moving average of $38.76 and a 200-day simple moving average of $37.38. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.26 and a quick ratio of 0.84.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last posted 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 during the quarter, compared to analyst estimates of $11.56 billion. Suncor Energy had a return on equity of 13.21% and a net margin of 11.35%. During the same period last year, the company earned $1.27 EPS. Equities analysts forecast that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Increases Dividend

The firm also recently declared 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 represents a $1.65 dividend on an annualized basis and a dividend yield of 4.2%. This is an increase from Suncor Energy's previous quarterly dividend of $0.41. Suncor Energy's dividend payout ratio is 51.08%.

Wall Street Analysts Forecast Growth

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

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.

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