Arkadios Wealth Advisors Buys 6,668 Shares of Suncor Energy Inc. (NYSE:SU)

Key Points

• Arkadios Wealth Advisors increased its stake in Suncor Energy by 34.9%, acquiring an additional 6,668 shares during the first quarter, bringing its total holdings to 25,747 shares valued at approximately $997,000.
• Suncor Energy's quarterly earnings exceeded expectations, reporting $0.91 earnings per share compared to a consensus estimate of $0.86, while revenue for the quarter was $9.10 billion, lower than the expected $13.39 billion.
• The company recently announced an increase in its quarterly dividend from $0.40 to $0.4133, representing an annualized yield of 4.2% with a payout ratio of 47.84%.

Arkadios Wealth Advisors boosted its stake in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 34.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,747 shares of the oil and gas producer's stock after purchasing an additional 6,668 shares during the quarter. Arkadios Wealth Advisors' holdings in Suncor Energy were worth $997,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. increased its stake in Suncor Energy by 65.0% during the first quarter. Principal Financial Group Inc. now owns 16,018,129 shares of the oil and gas producer's stock valued at $620,136,000 after acquiring an additional 6,311,513 shares during the period. Mackenzie Financial Corp lifted its position in shares of Suncor Energy by 18.6% in the 1st quarter. Mackenzie Financial Corp now owns 15,377,546 shares of the oil and gas producer's stock worth $595,398,000 after acquiring an additional 2,410,857 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Suncor Energy by 500.4% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,453,314 shares of the oil and gas producer's stock worth $87,459,000 after purchasing an additional 2,044,680 shares in the last quarter. AustralianSuper Pty Ltd increased its position in shares of Suncor Energy by 1,025.0% during the first quarter. AustralianSuper Pty Ltd now owns 2,149,643 shares of the oil and gas producer's stock valued at $83,248,000 after purchasing an additional 1,958,570 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Suncor Energy by 29.5% in the fourth quarter. Geode Capital Management LLC now owns 7,629,169 shares of the oil and gas producer's stock valued at $278,537,000 after purchasing an additional 1,737,573 shares in the last quarter. 67.37% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Suncor Energy Stock Down 1.0%

Shares of NYSE:SU opened at $39.06 on Friday. The company's fifty day moving average is $38.49 and its 200-day moving average is $37.37. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.39. Suncor Energy Inc. has a 52 week low of $30.79 and a 52 week high of $41.94. The company has a market capitalization of $47.57 billion, a PE ratio of 11.26, a P/E/G ratio of 3.44 and a beta of 0.84.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last issued its quarterly earnings data on Tuesday, May 6th. The oil and gas producer reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.05. The firm had revenue of $9.10 billion for the quarter, compared to analysts' expectations of $13.39 billion. Suncor Energy had a net margin of 11.95% and a return on equity of 14.90%. During the same period in the prior year, the firm earned $1.41 earnings per share. Equities research analysts predict 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 was paid on Wednesday, June 25th. Shareholders of record on Wednesday, June 4th were given a $0.4133 dividend. This represents a $1.65 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date was Wednesday, June 4th. This is a positive change from Suncor Energy's previous quarterly dividend of $0.40. Suncor Energy's dividend payout ratio is 47.84%.

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.

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