FCG Investment Co Lowers Stock Position in Suncor Energy Inc. $SU

Key Points

• FCG Investment Co has reduced its stake in Suncor Energy by 38.6%, now holding 23,121 shares valued at approximately $866,000.
• Suncor Energy reported $0.51 EPS for the last quarter, surpassing expectations, although revenue fell short at $8.81 billion compared to estimates of $11.56 billion.
• The company has recently increased its quarterly dividend to $0.4135 per share, reflecting a yield of 3.9% and a payout ratio of 51.08%.

FCG Investment Co trimmed its holdings in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 38.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,121 shares of the oil and gas producer's stock after selling 14,507 shares during the period. FCG Investment Co's holdings in Suncor Energy were worth $866,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of SU. Sagespring Wealth Partners LLC grew its holdings in Suncor Energy by 5.8% during the first quarter. Sagespring Wealth Partners LLC now owns 6,065 shares of the oil and gas producer's stock worth $235,000 after acquiring an additional 332 shares during the period. Winthrop Capital Management LLC boosted its position in shares of Suncor Energy by 2.6% during the 1st quarter. Winthrop Capital Management LLC now owns 13,654 shares of the oil and gas producer's stock worth $529,000 after purchasing an additional 352 shares in the last quarter. Salem Investment Counselors Inc. grew its stake in shares of Suncor Energy by 97.6% during the 1st quarter. Salem Investment Counselors Inc. now owns 820 shares of the oil and gas producer's stock worth $32,000 after purchasing an additional 405 shares during the period. Hanson & Doremus Investment Management increased its holdings in shares of Suncor Energy by 143.5% in the 1st quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer's stock valued at $31,000 after purchasing an additional 465 shares in the last quarter. Finally, Harbour Investments Inc. lifted its stake in shares of Suncor Energy by 67.0% in the first 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. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Suncor Energy Trading Up 0.7%

Shares of SU opened at $42.73 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.77 and a debt-to-equity ratio of 0.19. The firm's 50-day moving average is $40.30 and its two-hundred day moving average is $37.94. Suncor Energy Inc. has a twelve month low of $30.79 and a twelve month high of $43.48. The firm has a market capitalization of $51.66 billion, a P/E ratio of 13.15, a PEG ratio of 3.44 and a beta of 0.87.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last announced 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 for the quarter, compared to analyst estimates of $11.56 billion. Suncor Energy had a return on equity of 13.21% and a net margin of 11.35%.During the same quarter in the previous year, the company earned $1.27 EPS. On average, 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 announced a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th were issued a $0.4135 dividend. This represents a $1.65 annualized dividend and a yield of 3.9%. This is a positive change from Suncor Energy's previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Thursday, September 4th. 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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