Nicola Wealth Management LTD. Has $15.69 Million Stock Position in Suncor Energy Inc. $SU

Key Points

• Nicola Wealth Management LTD. reduced its stake in Suncor Energy by 16.3%, now owning 404,922 shares valued at approximately $15.7 million, making it the firm's 25th largest holding.
• Other institutional investors, including Principal Financial Group Inc. and Bank of New York Mellon Corp, significantly increased their stakes in Suncor Energy, demonstrating continued confidence in the company.
• Suncor Energy has declared a quarterly dividend of $0.4135 per share, with an annualized basis yield of 3.9%, up from its previous dividend of $0.41.

Nicola Wealth Management LTD. lowered its holdings in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 16.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 404,922 shares of the oil and gas producer's stock after selling 78,900 shares during the period. Suncor Energy comprises 1.5% of Nicola Wealth Management LTD.'s holdings, making the stock its 25th largest holding. Nicola Wealth Management LTD.'s holdings in Suncor Energy were worth $15,685,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Acadian Asset Management LLC raised its stake in shares of Suncor Energy by 12,290.9% during the first quarter. Acadian Asset Management LLC now owns 12,418,784 shares of the oil and gas producer's stock valued at $480,760,000 after acquiring an additional 12,318,559 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in Suncor Energy by 172.5% during the first quarter. Geneos Wealth Management Inc. now owns 1,981 shares of the oil and gas producer's stock worth $77,000 after buying an additional 1,254 shares during the last quarter. Focus Partners Wealth raised its stake in Suncor Energy by 1.3% during the first quarter. Focus Partners Wealth now owns 796,967 shares of the oil and gas producer's stock worth $30,859,000 after buying an additional 10,514 shares during the last quarter. Bayforest Capital Ltd raised its stake in Suncor Energy by 154.6% during the first quarter. Bayforest Capital Ltd now owns 5,030 shares of the oil and gas producer's stock worth $195,000 after buying an additional 3,054 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Suncor Energy by 36.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 944,533 shares of the oil and gas producer's stock worth $36,572,000 after buying an additional 251,298 shares during the last quarter. Institutional investors own 67.37% of the company's stock.

Suncor Energy Trading Down 0.7%

NYSE SU traded down $0.29 during mid-day trading on Friday, reaching $41.73. 1,937,645 shares of the stock were exchanged, compared to its average volume of 4,256,477. Suncor Energy Inc. has a one year low of $30.79 and a one year high of $42.40. The stock has a 50 day simple moving average of $39.72 and a 200-day simple moving average of $37.55. The stock has a market cap of $50.63 billion, a P/E ratio of 12.84, a P/E/G ratio of 3.59 and a beta of 0.87. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.26 and a quick ratio of 0.77.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last issued its earnings results on Tuesday, August 5th. The oil and gas producer reported $0.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.50 by $0.01. The business had revenue of $8.81 billion during the quarter, compared to the consensus estimate of $11.56 billion. Suncor Energy had a return on equity of 13.21% and a net margin of 11.35%.During the same period in the previous year, the company posted $1.27 earnings per share. On average, analysts anticipate that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Increases Dividend

The business 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 4.0%. This is an increase from Suncor Energy's previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Thursday, September 4th. Suncor Energy's 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.