Alyeska Investment Group L.P. Sells 715,592 Shares of Suncor Energy Inc. $SU

Key Points

• Alyeska Investment Group L.P. has reduced its stake in Suncor Energy by 55.7%, selling 715,592 shares and holding 570,236 shares valued at approximately $22.08 million as of the latest quarter.
• Suncor Energy has recently announced a quarterly dividend increase to $0.4135 per share, representing a 4.1% yield and a slight increase from the previous dividend of $0.41.
• The company's stock is currently trading at $40.18, with a market cap of $48.76 billion and a PE ratio of 12.36.

Alyeska Investment Group L.P. decreased its position in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 55.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 570,236 shares of the oil and gas producer's stock after selling 715,592 shares during the period. Alyeska Investment Group L.P.'s holdings in Suncor Energy were worth $22,080,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hanson & Doremus Investment Management raised its position in shares of Suncor Energy by 143.5% during the first 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 during the last quarter. Salem Investment Counselors Inc. raised its position in shares of Suncor Energy by 97.6% during the first 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 during the last quarter. N.E.W. Advisory Services LLC bought a new stake in shares of Suncor Energy during the first quarter valued at approximately $36,000. Wayfinding Financial LLC purchased a new position in shares of Suncor Energy in the first quarter valued at $42,000. Finally, ORG Wealth Partners LLC purchased a new position in shares of Suncor Energy in the first quarter valued at $44,000. Institutional investors own 67.37% of the company's stock.

Suncor Energy Trading Down 1.1%

SU stock opened at $40.18 on Friday. The firm has a fifty day moving average price of $39.34 and a 200 day moving average price of $37.49. Suncor Energy Inc. has a fifty-two week low of $30.79 and a fifty-two week high of $41.76. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.77 and a current ratio of 1.26. The firm has a market cap of $48.76 billion, a PE ratio of 12.36, a price-to-earnings-growth ratio of 3.50 and a beta of 0.87.

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 EPS for the quarter, topping the consensus estimate of $0.50 by $0.01. The company had revenue of $8.81 billion during the quarter, compared to analyst estimates of $11.56 billion. Suncor Energy had a net margin of 11.35% and a return on equity of 13.21%. During the same period in the previous year, the firm earned $1.27 earnings per share. Sell-side analysts anticipate that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders 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 yield of 4.1%. Suncor Energy's payout ratio is presently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.