Great Lakes Advisors LLC Has $14.61 Million Position in Suncor Energy Inc. $SU

Key Points

• Great Lakes Advisors LLC significantly increased its stake in Suncor Energy Inc. by 495.4% during the 1st quarter, acquiring 314,018 additional shares, bringing its total holdings to 377,406 shares valued at approximately $14.6 million.
• Suncor Energy recently announced a quarterly dividend increase to $0.4135 per share, representing a 4.1% yield and a payout ratio of 50.77%.
• The company reported earnings of $0.51 per share for the latest quarter, exceeding analysts' expectations, although revenues of $8.81 billion fell short of consensus estimates of $11.56 billion.

Great Lakes Advisors LLC lifted its holdings in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 495.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 377,406 shares of the oil and gas producer's stock after acquiring an additional 314,018 shares during the quarter. Great Lakes Advisors LLC's holdings in Suncor Energy were worth $14,613,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Hanson & Doremus Investment Management boosted 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 worth $31,000 after acquiring an additional 465 shares in the last quarter. Salem Investment Counselors Inc. increased its holdings in shares of 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 in the last quarter. N.E.W. Advisory Services LLC acquired a new stake in shares of Suncor Energy in the first quarter valued at approximately $36,000. Wayfinding Financial LLC acquired a new stake in shares of Suncor Energy in the first quarter valued at approximately $42,000. Finally, ORG Wealth Partners LLC acquired a new stake in shares of Suncor Energy in the first quarter valued at approximately $44,000. 67.37% of the stock is owned by institutional investors and hedge funds.

Suncor Energy Price Performance

Shares of Suncor Energy stock traded down $0.25 during midday trading on Thursday, reaching $42.01. The company had a trading volume of 3,043,483 shares, compared to its average volume of 4,199,756. The stock has a fifty day simple moving average of $39.66 and a 200 day simple moving average of $37.54. Suncor Energy Inc. has a 1-year low of $30.79 and a 1-year high of $42.40. The company has a market capitalization of $50.98 billion, a price-to-earnings ratio of 12.93, a price-to-earnings-growth ratio of 3.64 and a beta of 0.87. The company has a current ratio of 1.26, a quick ratio of 0.77 and a debt-to-equity ratio of 0.19.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last announced its quarterly earnings data on Tuesday, August 5th. The oil and gas producer reported $0.51 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $11.56 billion. During the same period in the prior year, the business posted $1.27 earnings per share. As a group, equities research analysts forecast that Suncor Energy Inc. will post 3.42 earnings per share for the current year.

Suncor Energy Increases Dividend

The firm 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. 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 3.9%. The ex-dividend date is Thursday, September 4th. Suncor Energy's dividend payout ratio (DPR) is currently 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.