Corigliano Investment Advisers LLC Buys Shares of 273,000 Suncor Energy Inc. $SU

Key Points

• Corigliano Investment Advisers LLC purchased 273,000 shares of Suncor Energy worth approximately $10.57 million, making it the firm's 8th largest holding.
• Suncor Energy's quarterly dividend has increased to $0.4135 per share, with a new total annual yield of 4.1%.
• Despite a strong quarterly earnings report with an EPS of $0.51, Suncor Energy's stock is down 1.5% as of Thursday morning.

Corigliano Investment Advisers LLC bought a new stake 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 & Exchange Commission. The fund bought 273,000 shares of the oil and gas producer's stock, valued at approximately $10,571,000. Suncor Energy comprises about 4.7% of Corigliano Investment Advisers LLC's investment portfolio, making the stock its 8th largest holding.

Several other institutional investors have also modified their holdings of the company. Toronto Dominion Bank grew its position in shares of Suncor Energy by 3.0% during the fourth quarter. Toronto Dominion Bank now owns 19,098,225 shares of the oil and gas producer's stock worth $680,847,000 after acquiring an additional 552,018 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of 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 worth $620,136,000 after acquiring an additional 6,311,513 shares during the last quarter. Mackenzie Financial Corp grew its position in shares of Suncor Energy by 18.6% during the first 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 last quarter. Goldman Sachs Group Inc. grew its position in shares of Suncor Energy by 83.6% during the first quarter. Goldman Sachs Group Inc. now owns 12,426,008 shares of the oil and gas producer's stock worth $481,135,000 after acquiring an additional 5,658,880 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Suncor Energy by 2.6% during the first quarter. Dimensional Fund Advisors LP now owns 11,272,827 shares of the oil and gas producer's stock worth $436,459,000 after acquiring an additional 290,900 shares during the last quarter. Institutional investors own 67.37% of the company's stock.

Suncor Energy Stock Down 1.5%

Suncor Energy stock opened at $40.67 on Thursday. The company has a 50-day simple moving average of $39.29 and a 200-day simple moving average of $37.49. The firm has a market capitalization of $49.53 billion, a P/E ratio of 12.51, a P/E/G ratio of 3.56 and a beta of 0.87. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.77 and a current ratio of 1.26. Suncor Energy Inc. has a one year low of $30.79 and a one year high of $41.76.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last released its quarterly earnings results 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 business 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 quarter in the prior year, the firm earned $1.27 earnings per share. As a group, equities analysts expect that Suncor Energy Inc. will post 3.42 earnings per share for the current year.

Suncor Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be issued a $0.4135 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This is an increase 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 dividend payout ratio is currently 51.08%.

Suncor Energy 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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