Integrated Wealth Concepts LLC Raises Stake in Suncor Energy Inc. $SU

Key Points

• Integrated Wealth Concepts LLC increased its stake in Suncor Energy by 172.7% in Q1, owning 19,844 shares valued at approximately $768,000 after acquiring additional shares.
• Suncor Energy recently announced a quarterly dividend increase to $0.4135 per share, with an annualized yield of 4.0%, reflecting a rise from the previous quarter's dividend.
• The company reported earnings of $0.51 per share for the last quarter, just above analysts' expectations, despite a drop in revenue to $8.81 billion compared to estimates of $11.56 billion.

Integrated Wealth Concepts LLC boosted its holdings in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 172.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,844 shares of the oil and gas producer's stock after acquiring an additional 12,566 shares during the period. Integrated Wealth Concepts LLC's holdings in Suncor Energy were worth $768,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Sagespring Wealth Partners LLC increased its stake in Suncor Energy by 5.8% during the 1st quarter. Sagespring Wealth Partners LLC now owns 6,065 shares of the oil and gas producer's stock valued at $235,000 after purchasing an additional 332 shares in the last quarter. Winthrop Capital Management LLC increased its stake in 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 valued at $529,000 after purchasing an additional 352 shares in the last quarter. Salem Investment Counselors Inc. increased its stake in 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 valued at $32,000 after purchasing an additional 405 shares in the last quarter. Hanson & Doremus Investment Management increased its stake in Suncor Energy by 143.5% during 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. increased its stake in Suncor Energy by 67.0% during the 1st 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 in the last quarter. 67.37% of the stock is currently owned by institutional investors.

Suncor Energy Stock Down 0.7%

NYSE:SU opened at $41.73 on Friday. The firm has a market cap of $50.63 billion, a P/E ratio of 12.84, a P/E/G ratio of 3.62 and a beta of 0.87. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.77 and a current ratio of 1.26. Suncor Energy Inc. has a fifty-two week low of $30.79 and a fifty-two week high of $42.40. The firm has a 50-day simple moving average of $39.72 and a two-hundred day simple moving average of $37.56.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last released its quarterly earnings data on Tuesday, August 5th. The oil and gas producer reported $0.51 earnings per share for the quarter, beating analysts' consensus estimates of $0.50 by $0.01. The business had revenue of $8.81 billion during the quarter, compared to analyst estimates of $11.56 billion. Suncor Energy had a net margin of 11.35% and a return on equity of 13.21%. During the same period last year, the business earned $1.27 EPS. 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 disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be paid a dividend of $0.4135 per share. The ex-dividend date is Thursday, September 4th. This represents a $1.65 dividend on an annualized basis and a yield of 4.0%. This is an increase from Suncor Energy's previous quarterly dividend of $0.41. 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.

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