Ewing Morris & Co. Investment Partners Ltd. Makes New $276,000 Investment in Suncor Energy Inc. $SU

Key Points

• Ewing Morris & Co. Investment Partners Ltd. has acquired 7,133 shares of Suncor Energy Inc., valued at approximately $276,000, as part of their new stake during the first quarter.
• Suncor Energy's quarterly dividend increased to $0.4135 per share, reflecting a yield of 4.0% and a payout ratio of 51.08%, with the next payment scheduled for September 25th.
• Suncor Energy recently reported earnings of $0.51 per share for the last quarter, which beat analysts' expectations, although their revenue of $8.81 billion fell short of the projected $11.56 billion.

Ewing Morris & Co. Investment Partners Ltd. purchased a new position in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 7,133 shares of the oil and gas producer's stock, valued at approximately $276,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Hanson & Doremus Investment Management grew its holdings 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 worth $31,000 after buying an additional 465 shares during the last quarter. Salem Investment Counselors Inc. lifted its position in Suncor Energy by 97.6% in the first quarter. Salem Investment Counselors Inc. now owns 820 shares of the oil and gas producer's stock valued at $32,000 after purchasing an additional 405 shares during the period. N.E.W. Advisory Services LLC acquired a new stake in Suncor Energy in the first quarter valued at about $36,000. Wayfinding Financial LLC acquired a new stake in Suncor Energy in the first quarter valued at about $42,000. Finally, ORG Wealth Partners LLC acquired a new stake in Suncor Energy in the first quarter valued at about $44,000. Hedge funds and other institutional investors own 67.37% of the company's stock.

Suncor Energy Stock Performance

NYSE:SU traded down $0.04 during mid-day trading on Thursday, reaching $40.18. The stock had a trading volume of 1,723,717 shares, compared to its average volume of 4,679,587. 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 capitalization of $48.94 billion, a price-to-earnings ratio of 12.36, a PEG ratio of 3.56 and a beta of 0.87. Suncor Energy Inc. has a twelve month low of $30.79 and a twelve month high of $41.76. The business has a 50 day simple moving average of $39.29 and a 200 day simple moving average of $37.49.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last issued its earnings results on Tuesday, August 5th. The oil and gas producer reported $0.51 earnings per share (EPS) for the quarter, beating 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 company 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. On average, analysts expect that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be issued a $0.4135 dividend. This represents a $1.65 dividend on an annualized basis and a yield of 4.1%. This is a boost from Suncor Energy's previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Thursday, September 4th. Suncor Energy's dividend payout ratio is 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.