Jupiter Asset Management Ltd. Sells 498,746 Shares of Suncor Energy Inc. (NYSE:SU)

Key Points

• Jupiter Asset Management Ltd. reduced its stake in Suncor Energy Inc. by 20.5%, selling 498,746 shares and retaining approximately 1.94 million shares, which now represent 0.7% of its total holdings.
• During the last quarter, Suncor Energy reported earnings of $0.91 per share, exceeding analysts' expectations, despite a significant drop from the previous year's earnings of $1.41 per share.
• Suncor Energy recently increased its quarterly dividend to $0.4133 per share, raising its annualized dividend to $1.65, which corresponds to a dividend yield of 4.2%.

Jupiter Asset Management Ltd. cut its holdings in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 20.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,939,545 shares of the oil and gas producer's stock after selling 498,746 shares during the period. Suncor Energy comprises approximately 0.7% of Jupiter Asset Management Ltd.'s holdings, making the stock its 27th largest holding. Jupiter Asset Management Ltd. owned approximately 0.16% of Suncor Energy worth $75,089,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of SU. Hanson & Doremus Investment Management boosted its position in 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 valued at $31,000 after buying an additional 465 shares during the last quarter. Salem Investment Counselors Inc. boosted its position in Suncor Energy by 97.6% in the 1st quarter. Salem Investment Counselors Inc. now owns 820 shares of the oil and gas producer's stock valued at $32,000 after buying an additional 405 shares during the last quarter. N.E.W. Advisory Services LLC bought a new position in Suncor Energy in the 1st quarter valued at $36,000. Covestor Ltd boosted its position in Suncor Energy by 30.5% in the 4th quarter. Covestor Ltd now owns 1,095 shares of the oil and gas producer's stock valued at $39,000 after buying an additional 256 shares during the last quarter. Finally, Wayfinding Financial LLC bought a new position in Suncor Energy in the 1st quarter valued at $42,000. Institutional investors own 67.37% of the company's stock.

Suncor Energy Trading Down 1.0%

Shares of NYSE SU opened at $39.06 on Friday. The stock has a market cap of $47.57 billion, a price-to-earnings ratio of 11.26, a P/E/G ratio of 3.48 and a beta of 0.84. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.21. The company's fifty day moving average is $38.49 and its 200-day moving average is $37.38. Suncor Energy Inc. has a twelve month low of $30.79 and a twelve month high of $41.94.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last released its quarterly earnings results on Tuesday, May 6th. The oil and gas producer reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.86 by $0.05. Suncor Energy had a return on equity of 14.90% and a net margin of 11.95%. The company had revenue of $9.10 billion for the quarter, compared to analyst estimates of $13.39 billion. During the same quarter last year, the firm posted $1.41 earnings per share. Equities research analysts predict that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Wednesday, June 4th were given a dividend of $0.4133 per share. This is a positive change from Suncor Energy's previous quarterly dividend of $0.40. This represents a $1.65 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend was Wednesday, June 4th. Suncor Energy's payout ratio is currently 47.84%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered Suncor Energy from a "buy" rating to a "hold" rating in a research report on Thursday, April 17th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $66.00.

About Suncor Energy

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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