Addenda Capital Inc. Sells 22,227 Shares of Suncor Energy Inc. $SU

Key Points

• Addenda Capital Inc. has reduced its stake in Suncor Energy Inc. by 2.7%, selling 22,227 shares during the second quarter, leaving it with approximately 789,307 shares in total.
• The company recently reported earnings per share of $0.51, slightly exceeding expectations, with revenue totaling $8.81 billion for the quarter.
• Suncor Energy has declared an increased quarterly dividend of $0.4135 per share, reflecting a dividend yield of 3.9% and a payout ratio of 51.08%.

Addenda Capital Inc. trimmed its position in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 2.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 789,307 shares of the oil and gas producer's stock after selling 22,227 shares during the period. Suncor Energy accounts for approximately 1.3% of Addenda Capital Inc.'s investment portfolio, making the stock its 21st biggest position. Addenda Capital Inc. owned 0.06% of Suncor Energy worth $29,560,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in SU. Signaturefd LLC lifted its stake in Suncor Energy by 20.2% in the second quarter. Signaturefd LLC now owns 35,002 shares of the oil and gas producer's stock valued at $1,311,000 after purchasing an additional 5,894 shares during the last quarter. Kathmere Capital Management LLC lifted its position in Suncor Energy by 30.7% in the 2nd quarter. Kathmere Capital Management LLC now owns 11,376 shares of the oil and gas producer's stock valued at $426,000 after acquiring an additional 2,675 shares in the last quarter. Maseco LLP purchased a new stake in shares of Suncor Energy in the 2nd quarter worth $32,000. CHICAGO TRUST Co NA grew its position in shares of Suncor Energy by 23.6% during the second quarter. CHICAGO TRUST Co NA now owns 14,630 shares of the oil and gas producer's stock valued at $548,000 after purchasing an additional 2,797 shares in the last quarter. Finally, Park Avenue Securities LLC lifted its stake in Suncor Energy by 15.1% in the second quarter. Park Avenue Securities LLC now owns 36,295 shares of the oil and gas producer's stock worth $1,359,000 after purchasing an additional 4,752 shares during the last quarter. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Suncor Energy Price Performance

NYSE SU opened at $42.59 on Friday. The firm has a market capitalization of $51.49 billion, a P/E ratio of 13.10, a P/E/G ratio of 3.46 and a beta of 0.87. The firm's fifty day simple moving average is $40.37 and its two-hundred day simple moving average is $38.01. Suncor Energy Inc. has a 12-month low of $30.79 and a 12-month high of $43.48. The company has a current ratio of 1.26, a quick ratio of 0.77 and a debt-to-equity ratio of 0.19.

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

Suncor Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th were given a dividend of $0.4135 per share. This is an increase from Suncor Energy's previous quarterly dividend of $0.41. This represents a $1.65 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Thursday, September 4th. Suncor Energy's payout ratio is currently 51.08%.

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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