Canoe Financial LP Invests $9.65 Million in Suncor Energy Inc. $SU

Key Points

• Canoe Financial LP made a significant investment of approximately $9.65 million in Suncor Energy, acquiring 257,500 shares in the second quarter.
• Suncor Energy recently announced a quarterly dividend increase to $0.4135 per share, yielding 3.9%, with the ex-dividend date set for September 4th.
• The company's stock opened at $42.71 and has experienced a 12-month price range between $30.79 and $43.48.

Canoe Financial LP purchased a new position in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 257,500 shares of the oil and gas producer's stock, valued at approximately $9,653,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SU. Nomura Holdings Inc. acquired a new position in shares of Suncor Energy in the 4th quarter worth approximately $257,000. Man Group plc lifted its position in shares of Suncor Energy by 51.5% in the 4th quarter. Man Group plc now owns 114,555 shares of the oil and gas producer's stock worth $4,087,000 after purchasing an additional 38,921 shares during the period. Quantinno Capital Management LP lifted its position in shares of Suncor Energy by 5.1% in the 4th quarter. Quantinno Capital Management LP now owns 39,090 shares of the oil and gas producer's stock worth $1,395,000 after purchasing an additional 1,897 shares during the period. Waverly Advisors LLC acquired a new position in shares of Suncor Energy in the 4th quarter worth approximately $569,000. Finally, Vise Technologies Inc. lifted its position in shares of Suncor Energy by 67.1% in the 4th quarter. Vise Technologies Inc. now owns 56,673 shares of the oil and gas producer's stock worth $2,022,000 after purchasing an additional 22,753 shares during the period. Institutional investors and hedge funds own 67.37% of the company's stock.

Suncor Energy Stock Down 0.3%

Suncor Energy stock opened at $42.71 on Friday. The company has a quick ratio of 0.77, a current ratio of 1.26 and a debt-to-equity ratio of 0.19. Suncor Energy Inc. has a 12-month low of $30.79 and a 12-month high of $43.48. The firm's fifty day moving average is $40.03 and its 200 day moving average is $37.70. The company has a market capitalization of $51.64 billion, a PE ratio of 13.14, a PEG ratio of 3.69 and a beta of 0.87.

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 EPS for the quarter, topping analysts' consensus estimates 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 period last year, the company posted $1.27 earnings per share. As a group, sell-side analysts predict that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be paid a $0.4135 dividend. This represents a $1.65 annualized dividend and a yield of 3.9%. This is an increase from Suncor Energy's previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Thursday, September 4th. Suncor Energy's payout ratio is presently 50.77%.

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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