3,255,816 Shares in Suncor Energy Inc. (NYSE:SU) Acquired by Nuveen LLC

Key Points

• Nuveen LLC acquired a significant stake in Suncor Energy, purchasing 3,255,816 shares valued at approximately $126 million, representing 0.26% of the company.
• Suncor Energy increased its quarterly dividend to $0.4135 per share, reflecting a 4.3% yield and a payout ratio of 51.08%.
• Suncor Energy reported an EPS of $0.51 for the last quarter, slightly exceeding analyst estimates, despite a revenue decrease compared to expectations.

Nuveen LLC bought a new stake in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,255,816 shares of the oil and gas producer's stock, valued at approximately $126,048,000. Nuveen LLC owned approximately 0.26% of Suncor Energy as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in SU. Hanson & Doremus Investment Management increased its stake in shares of Suncor Energy by 143.5% during the first quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer's stock valued at $31,000 after purchasing an additional 465 shares in the last quarter. Salem Investment Counselors Inc. increased its stake in shares of Suncor Energy by 97.6% during the first quarter. Salem Investment Counselors Inc. now owns 820 shares of the oil and gas producer's stock valued at $32,000 after purchasing an additional 405 shares in the last quarter. N.E.W. Advisory Services LLC bought a new position in shares of Suncor Energy during the first quarter valued at approximately $36,000. Covestor Ltd increased its stake in shares of Suncor Energy by 30.5% during the fourth quarter. Covestor Ltd now owns 1,095 shares of the oil and gas producer's stock valued at $39,000 after purchasing an additional 256 shares in the last quarter. Finally, Wayfinding Financial LLC bought a new position in shares of Suncor Energy during the first quarter valued at approximately $42,000. Institutional investors own 67.37% of the company's stock.

Suncor Energy Stock Up 0.2%

Shares of NYSE:SU traded up $0.09 during trading on Wednesday, reaching $38.93. 2,016,735 shares of the stock traded hands, compared to its average volume of 3,286,868. The stock has a 50-day moving average of $38.97 and a two-hundred day moving average of $37.37. Suncor Energy Inc. has a 52-week low of $30.79 and a 52-week high of $41.94. 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 has a market cap of $47.41 billion, a P/E ratio of 11.98, a price-to-earnings-growth ratio of 3.35 and a beta of 0.84.

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 EPS for the quarter, beating analysts' consensus estimates of $0.50 by $0.01. Suncor Energy had a net margin of 11.35% and a return on equity of 13.21%. The firm had revenue of $8.81 billion for the quarter, compared to analysts' expectations of $11.56 billion. During the same quarter in the prior year, the company posted $1.27 earnings per share. As a group, sell-side analysts expect that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th will be issued a dividend of $0.4135 per share. The ex-dividend date is Thursday, September 4th. This is a positive change from Suncor Energy's previous quarterly dividend of $0.41. This represents a $1.65 dividend on an annualized basis and a dividend yield of 4.2%. Suncor Energy's dividend payout ratio is currently 51.08%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded shares of Suncor Energy from a "buy" rating to a "hold" rating in a research note on Thursday, April 17th. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $66.00.

Suncor Energy Company 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.