DekaBank Deutsche Girozentrale Sells 9,067 Shares of Suncor Energy Inc. $SU

Key Points

• DekaBank Deutsche Girozentrale reduced its holdings in Suncor Energy by 1.3%, selling 9,067 shares, and now owns 691,631 shares valued at approximately $26 million.
• Suncor Energy's quarterly earnings exceeded expectations with $0.51 earnings per share, but revenue fell short of estimates at $8.81 billion.
• The company announced a dividend increase to $0.4135 per share, yielding 4.2%, reflecting a commitment to returning value to its shareholders.

DekaBank Deutsche Girozentrale lowered its holdings in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 1.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 691,631 shares of the oil and gas producer's stock after selling 9,067 shares during the period. DekaBank Deutsche Girozentrale owned approximately 0.06% of Suncor Energy worth $26,005,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Ascent Group LLC boosted its holdings in Suncor Energy by 4.7% in the 2nd quarter. Ascent Group LLC now owns 5,769 shares of the oil and gas producer's stock valued at $216,000 after purchasing an additional 260 shares during the period. IFP Advisors Inc boosted its holdings in Suncor Energy by 27.6% in the 2nd quarter. IFP Advisors Inc now owns 1,428 shares of the oil and gas producer's stock valued at $53,000 after purchasing an additional 309 shares during the period. Winthrop Capital Management LLC boosted its holdings in Suncor Energy by 2.6% in the 1st quarter. Winthrop Capital Management LLC now owns 13,654 shares of the oil and gas producer's stock valued at $529,000 after purchasing an additional 352 shares during the period. Harbour Investments Inc. boosted its holdings in Suncor Energy by 67.0% in the 1st quarter. Harbour Investments Inc. now owns 1,169 shares of the oil and gas producer's stock valued at $45,000 after purchasing an additional 469 shares during the period. Finally, CW Advisors LLC boosted its holdings in Suncor Energy by 0.7% in the 1st quarter. CW Advisors LLC now owns 69,549 shares of the oil and gas producer's stock valued at $2,693,000 after purchasing an additional 475 shares during the period. Institutional investors own 67.37% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SU. Zacks Research downgraded shares of Suncor Energy from a "hold" rating to a "strong sell" rating in a report on Wednesday, October 15th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Suncor Energy in a report on Wednesday, October 8th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $65.00 price target on shares of Suncor Energy in a report on Friday, October 3rd. Finally, Wells Fargo & Company began coverage on shares of Suncor Energy in a report on Friday, October 17th. They set an "equal weight" rating for the company. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $65.00.

Suncor Energy Price Performance

SU stock opened at $39.11 on Thursday. The company has a 50 day simple moving average of $40.68 and a 200 day simple moving average of $38.31. The stock has a market cap of $47.29 billion, a price-to-earnings ratio of 12.04, a P/E/G ratio of 3.02 and a beta of 0.78. Suncor Energy Inc. has a 1 year low of $30.79 and a 1 year high of $43.48. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.26 and a quick ratio of 0.77.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last released its quarterly earnings data on Tuesday, August 5th. The oil and gas producer reported $0.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.50 by $0.01. The business had revenue of $8.81 billion during the quarter, compared to analysts' expectations 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 prior year, the company earned $1.27 EPS. Research analysts anticipate that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Thursday, September 4th were given a dividend of $0.4135 per share. The ex-dividend date was Thursday, September 4th. This represents a $1.65 dividend on an annualized basis and a yield of 4.2%. This is a positive change from Suncor Energy's previous quarterly dividend of $0.41. Suncor Energy's dividend payout ratio is currently 51.08%.

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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