Great Lakes Advisors LLC Grows Stock Holdings 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 increased its holdings in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 495.4% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 377,406 shares of the oil and gas producer's stock after buying an additional 314,018 shares during the period. Great Lakes Advisors LLC's holdings in Suncor Energy were worth $14,613,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in SU. Principal Financial Group Inc. raised its position in shares of Suncor Energy by 65.0% in 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 buying an additional 6,311,513 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Suncor Energy by 83.6% in 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 buying an additional 5,658,880 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Suncor Energy in the first quarter worth $126,048,000. Mackenzie Financial Corp raised its position in shares of Suncor Energy by 18.6% in 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 buying an additional 2,410,857 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Suncor Energy by 500.4% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,453,314 shares of the oil and gas producer's stock worth $87,459,000 after buying an additional 2,044,680 shares in the last quarter. Hedge funds and other institutional investors own 67.37% of the company's stock.

Suncor Energy Price Performance

Shares of SU stock traded down $0.29 on Friday, reaching $41.73. The company's stock had a trading volume of 1,937,645 shares, compared to its average volume of 4,256,477. The company has a quick ratio of 0.77, a current ratio of 1.26 and a debt-to-equity ratio of 0.19. Suncor Energy Inc. has a 12-month low of $30.79 and a 12-month high of $42.40. The company has a market capitalization of $50.63 billion, a P/E ratio of 12.84, a PEG ratio of 3.59 and a beta of 0.87. The stock's 50 day simple moving average is $39.72 and its 200-day simple moving average is $37.55.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last issued 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. Suncor Energy had a return on equity of 13.21% and a net margin of 11.35%.The company had revenue of $8.81 billion for the quarter, compared to the consensus estimate of $11.56 billion. During the same quarter last year, the business posted $1.27 earnings per share. As a group, equities 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 declared a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be given a dividend of $0.4135 per share. The ex-dividend date is Thursday, September 4th. This is a positive change from Suncor Energy's previous quarterly dividend of $0.41. This represents a $1.65 dividend on an annualized basis and a yield of 4.0%. Suncor Energy's dividend payout ratio (DPR) is 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.