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Northern Trust Corp Buys 170,505 Shares of Suncor Energy Inc. $SU

Suncor Energy logo with Energy background

Key Points

  • Northern Trust Corp increased its stake in Suncor Energy by 12.9%, acquiring an additional 170,505 shares, bringing its total holding to 1,488,377 shares worth approximately $57.63 million.
  • During the first quarter, several other institutional investors significantly boosted their investments in Suncor Energy, with Hanson & Doremus Investment Management raising its stake by 143.5%.
  • Suncor Energy announced a quarterly dividend increase to $0.4135, reflecting an annualized yield of 4.1% and a boost from the previous dividend of $0.41.
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Northern Trust Corp increased its stake in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 12.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,488,377 shares of the oil and gas producer's stock after buying an additional 170,505 shares during the period. Northern Trust Corp owned 0.12% of Suncor Energy worth $57,630,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Hanson & Doremus Investment Management raised its stake 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 in the last quarter. Salem Investment Counselors Inc. raised its stake in Suncor Energy by 97.6% in the first quarter. Salem Investment Counselors Inc. now owns 820 shares of the oil and gas producer's stock worth $32,000 after buying an additional 405 shares in the last quarter. N.E.W. Advisory Services LLC bought a new position in Suncor Energy in the first quarter worth about $36,000. Wayfinding Financial LLC bought a new position in Suncor Energy in the first quarter worth about $42,000. Finally, ORG Wealth Partners LLC bought a new position in Suncor Energy in the first quarter worth about $44,000. 67.37% of the stock is owned by institutional investors.

Suncor Energy Price Performance

SU stock opened at $40.14 on Wednesday. Suncor Energy Inc. has a 1 year low of $30.79 and a 1 year high of $41.75. The company has a market cap of $48.88 billion, a P/E ratio of 12.35, a PEG ratio of 3.48 and a beta of 0.84. The firm has a 50-day moving average of $39.06 and a 200 day moving average of $37.42. 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 announced its quarterly earnings data 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 for the quarter, compared to analysts' expectations 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 prior year, the company earned $1.27 earnings per share. On average, sell-side analysts forecast that Suncor Energy Inc. will post 3.42 EPS 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 issued a $0.4135 dividend. This represents a $1.65 dividend on an annualized basis and a yield of 4.1%. This is a boost from Suncor Energy's previous quarterly dividend of $0.41. The ex-dividend date is Thursday, September 4th. Suncor Energy's dividend payout ratio is currently 51.08%.

Suncor Energy Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Suncor Energy (NYSE:SU)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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