NewEdge Advisors LLC Has $2.44 Million Position in 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 increased its stake in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 15.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 63,099 shares of the oil and gas producer's stock after buying an additional 8,254 shares during the period. NewEdge Advisors LLC's holdings in Suncor Energy were worth $2,443,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. boosted its holdings in shares of Suncor Energy by 65.0% during the 1st quarter. Principal Financial Group Inc. now owns 16,018,129 shares of the oil and gas producer's stock worth $620,136,000 after buying an additional 6,311,513 shares during the period. Inscription Capital LLC bought a new stake in shares of Suncor Energy during the 1st quarter worth about $247,000. Vident Advisory LLC boosted its holdings in shares of Suncor Energy by 967.9% during the 4th quarter. Vident Advisory LLC now owns 519,112 shares of the oil and gas producer's stock worth $18,522,000 after buying an additional 470,500 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Suncor Energy by 13.3% during the 1st quarter. Bank of New York Mellon Corp now owns 3,492,472 shares of the oil and gas producer's stock worth $135,228,000 after buying an additional 409,032 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Suncor Energy by 14.2% during the 4th quarter. Ameriprise Financial Inc. now owns 623,306 shares of the oil and gas producer's stock worth $22,884,000 after buying an additional 77,556 shares during the period. Institutional investors own 67.37% of the company's stock.

Suncor Energy Stock Performance

Shares of SU stock traded up $0.78 during midday trading on Tuesday, hitting $42.99. 4,550,562 shares of the company were exchanged, compared to its average volume of 4,284,269. The firm has a market capitalization of $52.17 billion, a P/E ratio of 13.23, a PEG ratio of 3.64 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. The firm's 50 day moving average price is $39.90 and its two-hundred day moving average price is $37.62. Suncor Energy Inc. has a 52 week low of $30.79 and a 52 week high of $43.48.

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 for the quarter, topping the consensus estimate of $0.50 by $0.01. Suncor Energy had a net margin of 11.35% and a return on equity of 13.21%. The business had revenue of $8.81 billion during the quarter, compared to analysts' expectations of $11.56 billion. During the same quarter in the previous year, the company earned $1.27 EPS. As a group, equities research analysts anticipate that Suncor Energy Inc. will post 3.42 earnings per share for the current year.

Suncor Energy Increases Dividend

The firm 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 $0.4135 dividend. This is a positive change 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 yield of 3.8%. 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.