Magnetar Financial LLC Invests $850,000 in Suncor Energy Inc. $SU

Key Points

• Magnetar Financial LLC acquired a new stake in Suncor Energy Inc., purchasing 21,963 shares valued at approximately $850,000 in the 1st quarter of the year.
• Suncor Energy has announced a quarterly dividend of $0.4135 per share, marking an increase from the previous dividend of $0.41, and represents a yield of 4.0%.
• The company reported earnings of $0.51 per share for the most recent quarter, surpassing analyst expectations, despite revenues falling below predictions.

Magnetar Financial LLC bought a new position in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 21,963 shares of the oil and gas producer's stock, valued at approximately $850,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hanson & Doremus Investment Management raised 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 buying an additional 465 shares during the last quarter. Salem Investment Counselors Inc. raised its holdings 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 worth $32,000 after acquiring an additional 405 shares during the last quarter. N.E.W. Advisory Services LLC purchased a new position in Suncor Energy in the 1st quarter worth approximately $36,000. Wayfinding Financial LLC bought a new stake in shares of Suncor Energy in the 1st quarter worth $42,000. Finally, ORG Wealth Partners LLC bought a new position in shares of Suncor Energy during the first quarter valued at $44,000. 67.37% of the stock is currently owned by institutional investors.

Suncor Energy Stock Performance

SU stock traded down $0.04 on Thursday, hitting $40.18. The company had a trading volume of 1,416,462 shares, compared to its average volume of 4,678,637. The company has a current ratio of 1.26, a quick ratio of 0.77 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 $41.76. The stock has a market cap of $48.93 billion, a price-to-earnings ratio of 12.37, a P/E/G ratio of 3.56 and a beta of 0.87. The stock's 50-day simple moving average is $39.29 and its 200 day simple moving average is $37.49.

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 analysts' consensus estimates of $0.50 by $0.01. The firm 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 quarter in the previous year, the firm posted $1.27 EPS. As a group, equities research 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 declared a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be paid a $0.4135 dividend. This represents a $1.65 annualized dividend and a yield of 4.1%. The ex-dividend date is Thursday, September 4th. This is a positive change from Suncor Energy's previous quarterly dividend of $0.41. Suncor Energy's dividend payout ratio is currently 51.08%.

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.