Guinness Asset Management LTD Reduces Position in Suncor Energy Inc. $SU

Key Points

• Guinness Asset Management LTD reduced its stake in Suncor Energy by 19.3%, owning 272,114 shares valued at approximately $10.5 million after selling 64,977 shares in the first quarter.
• Despite some institutional investors increasing their stakes, Suncor Energy's stock was trading down 0.6% on Friday, with a market cap of $50.98 billion and a P/E ratio of 12.93.
• Suncor Energy announced an increase in its quarterly dividend to $0.4135 per share, representing a 3.9% yield and a payout ratio of 50.77%.

Guinness Asset Management LTD lowered its holdings in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 19.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 272,114 shares of the oil and gas producer's stock after selling 64,977 shares during the period. Guinness Asset Management LTD's holdings in Suncor Energy were worth $10,498,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Hanson & Doremus Investment Management boosted its stake in 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 in the last quarter. Salem Investment Counselors Inc. lifted its holdings in shares of Suncor Energy by 97.6% during the first quarter. Salem Investment Counselors Inc. now owns 820 shares of the oil and gas producer's stock valued at $32,000 after acquiring an additional 405 shares during the period. N.E.W. Advisory Services LLC bought a new position in shares of Suncor Energy in the first quarter valued at about $36,000. Wayfinding Financial LLC bought a new position in shares of Suncor Energy in the first quarter valued at about $42,000. Finally, ORG Wealth Partners LLC bought a new stake in Suncor Energy during the 1st quarter worth about $44,000. Institutional investors and hedge funds own 67.37% of the company's stock.

Suncor Energy Trading Down 0.2%

Shares of Suncor Energy stock traded down $0.07 during trading on Wednesday, hitting $42.95. 788,220 shares of the company were exchanged, compared to its average volume of 4,641,818. The firm has a market capitalization of $52.12 billion, a P/E ratio of 13.21, a price-to-earnings-growth ratio of 3.64 and a beta of 0.87. Suncor Energy Inc. has a 1-year low of $30.79 and a 1-year high of $43.48. The firm's fifty day moving average price is $39.90 and its 200 day moving average price is $37.62. 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 issued its quarterly earnings data on Tuesday, August 5th. The oil and gas producer reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.01. Suncor Energy had a return on equity of 13.21% and a net margin of 11.35%.The business had revenue of $8.81 billion during the quarter, compared to analyst estimates of $11.56 billion. During the same period in the previous year, the firm earned $1.27 EPS. As a group, sell-side analysts expect that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal 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 paid a $0.4135 dividend. This represents a $1.65 annualized dividend and a yield of 3.9%. 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 payout ratio 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.