Integrated Wealth Concepts LLC Raises Position 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 grew its position in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 172.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,844 shares of the oil and gas producer's stock after purchasing an additional 12,566 shares during the quarter. Integrated Wealth Concepts LLC's holdings in Suncor Energy were worth $768,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of SU. Hanson & Doremus Investment Management grew its holdings in Suncor Energy by 143.5% in the first quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer's stock worth $31,000 after purchasing an additional 465 shares during the last quarter. Salem Investment Counselors Inc. lifted its stake 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 worth $32,000 after buying an additional 405 shares during the period. N.E.W. Advisory Services LLC acquired a new stake in shares of Suncor Energy during the first quarter worth $36,000. Wayfinding Financial LLC acquired a new stake in shares of Suncor Energy during the first quarter worth $42,000. Finally, ORG Wealth Partners LLC acquired a new stake in shares of Suncor Energy during the first quarter worth $44,000. 67.37% of the stock is owned by hedge funds and other institutional investors.

Suncor Energy Stock Performance

Shares of NYSE:SU traded down $0.14 on Thursday, hitting $42.71. 4,545,521 shares of the company were exchanged, compared to its average volume of 4,276,227. Suncor Energy Inc. has a 1-year low of $30.79 and a 1-year high of $43.48. The stock's 50 day moving average price is $40.03 and its 200 day moving average price is $37.70. 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 has a market capitalization of $51.64 billion, a P/E ratio of 13.14, a price-to-earnings-growth ratio of 3.69 and a beta of 0.87.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last posted its earnings results on Tuesday, August 5th. The oil and gas producer reported $0.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.50 by $0.01. The company had revenue of $8.81 billion during the quarter, compared to the consensus estimate 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 in the previous year, the firm posted $1.27 earnings per share. Sell-side analysts predict that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th will be paid a dividend of $0.4135 per share. This is an increase from Suncor Energy's previous quarterly dividend of $0.41. This represents a $1.65 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Thursday, September 4th. Suncor Energy's dividend payout ratio is presently 50.77%.

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.