NewEdge Advisors LLC Acquires 8,254 Shares of Suncor Energy Inc. $SU

Key Points

• NewEdge Advisors LLC increased its stake in Suncor Energy Inc. by 15%, owning 63,099 shares valued at $2.44 million as of the last SEC filing.
• Suncor Energy has announced a quarterly dividend of $0.4135, reflecting a slight increase over the previous dividend, with an annualized yield of 3.9%.
• The company's stock price has shown significant performance recently, with a 3.1% increase and a current market cap of $51.26 billion.

NewEdge Advisors LLC lifted its stake in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 15.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 63,099 shares of the oil and gas producer's stock after purchasing an additional 8,254 shares during the period. NewEdge Advisors LLC's holdings in Suncor Energy were worth $2,443,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of SU. Principal Financial Group Inc. raised its position in Suncor Energy by 65.0% during the first quarter. Principal Financial Group Inc. now owns 16,018,129 shares of the oil and gas producer's stock valued at $620,136,000 after buying an additional 6,311,513 shares during the period. Goldman Sachs Group Inc. raised its position in Suncor Energy by 83.6% during the first quarter. Goldman Sachs Group Inc. now owns 12,426,008 shares of the oil and gas producer's stock valued at $481,135,000 after buying an additional 5,658,880 shares during the period. Nuveen LLC acquired a new position in Suncor Energy during the first quarter valued at $126,048,000. Mackenzie Financial Corp raised its position in Suncor Energy by 18.6% during the first quarter. Mackenzie Financial Corp now owns 15,377,546 shares of the oil and gas producer's stock valued at $595,398,000 after buying an additional 2,410,857 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Suncor Energy by 500.4% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,453,314 shares of the oil and gas producer's stock valued at $87,459,000 after buying an additional 2,044,680 shares during the period. 67.37% of the stock is owned by institutional investors and hedge funds.

Suncor Energy Stock Down 0.7%

NYSE:SU traded down $0.29 during trading hours on Friday, hitting $41.73. 1,937,645 shares of the company's stock traded hands, compared to its average volume of 4,257,966. 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. Suncor Energy Inc. has a twelve month low of $30.79 and a twelve month high of $42.40. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.77 and a current ratio of 1.26. The stock's fifty day moving average price is $39.72 and its two-hundred day moving average price is $37.56.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last posted its quarterly earnings results on Tuesday, August 5th. The oil and gas producer reported $0.51 earnings per share 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 firm had revenue of $8.81 billion for the quarter, compared to analyst estimates of $11.56 billion. During the same period in the previous year, the firm earned $1.27 earnings per share. On average, research analysts expect that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The business also recently declared 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 a boost from Suncor Energy's previous quarterly dividend of $0.41. The ex-dividend date is Thursday, September 4th. This represents a $1.65 annualized dividend and a dividend yield of 4.0%. Suncor Energy's dividend payout ratio is currently 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.