Suncor Energy Inc. $SU Shares Sold by Nicola Wealth Management LTD.

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% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 404,922 shares of the oil and gas producer's stock after selling 78,900 shares during the period. Suncor Energy makes up 1.5% of Nicola Wealth Management LTD.'s investment portfolio, 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 hedge funds and other institutional investors have also added to or reduced their stakes in the business. Hanson & Doremus Investment Management grew 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 worth $31,000 after purchasing an additional 465 shares during the period. Salem Investment Counselors Inc. lifted its holdings in shares of 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 acquiring an additional 405 shares during the last quarter. N.E.W. Advisory Services LLC bought a new position in Suncor Energy during the 1st quarter valued at about $36,000. Wayfinding Financial LLC purchased a new position in Suncor Energy in the 1st quarter worth about $42,000. Finally, ORG Wealth Partners LLC purchased a new stake in shares of Suncor Energy in the 1st quarter worth $44,000. 67.37% of the stock is owned by institutional investors.

Suncor Energy Stock Down 0.2%

NYSE:SU traded down $0.08 during trading hours on Wednesday, reaching $42.95. The company's stock had a trading volume of 768,328 shares, compared to its average volume of 4,641,563. The company has a market capitalization of $52.11 billion, a P/E ratio of 13.22, a price-to-earnings-growth ratio of 3.64 and a beta of 0.87. The stock has a 50 day moving average price of $39.90 and a two-hundred day moving average price of $37.62. Suncor Energy Inc. has a 12 month low of $30.79 and a 12 month high of $43.48. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.77 and a current ratio of 1.26.

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

Suncor Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be given a $0.4135 dividend. The ex-dividend date is Thursday, September 4th. This represents a $1.65 annualized dividend and a yield of 3.9%. This is a boost from Suncor Energy's previous quarterly dividend of $0.41. Suncor Energy's 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.