Price T Rowe Associates Inc. MD Has $673.10 Million Stock Holdings in Suncor Energy Inc. $SU

Key Points

• Price T Rowe Associates Inc. reduced its stake in Suncor Energy by 40.3%, selling over 11.7 million shares during the first quarter.
• Suncor Energy is set to pay a quarterly dividend of $0.4135 per share, reflecting a 4.1% yield and an increase from the prior dividend amount.
• The company's latest earnings report showed an EPS of $0.51, exceeding analysts' expectations by $0.01, despite revenue falling short of projections.

Price T Rowe Associates Inc. MD lessened its stake in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 40.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 17,383,871 shares of the oil and gas producer's stock after selling 11,724,642 shares during the period. Price T Rowe Associates Inc. MD owned about 1.41% of Suncor Energy worth $673,104,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Hanson & Doremus Investment Management raised its stake in Suncor Energy by 143.5% during the 1st 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 during the period. Salem Investment Counselors Inc. raised its stake in Suncor Energy by 97.6% during the 1st 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 during the period. N.E.W. Advisory Services LLC acquired a new stake in Suncor Energy during the 1st quarter valued at $36,000. Wayfinding Financial LLC acquired a new stake in Suncor Energy during the 1st quarter valued at $42,000. Finally, ORG Wealth Partners LLC acquired a new stake in Suncor Energy during the 1st quarter valued at $44,000. Institutional investors and hedge funds own 67.37% of the company's stock.

Suncor Energy Stock Down 0.6%

NYSE:SU traded down $0.24 during trading hours on Tuesday, hitting $40.14. 3,681,081 shares of the stock traded hands, compared to its average volume of 4,677,453. The firm has a 50 day moving average price of $39.07 and a 200 day moving average price of $37.40. The company has a current ratio of 1.26, a quick ratio of 0.77 and a debt-to-equity ratio of 0.19. Suncor Energy Inc. has a fifty-two week low of $30.79 and a fifty-two week high of $41.75. The firm has a market cap of $48.88 billion, a price-to-earnings ratio of 12.35, a PEG ratio of 3.44 and a beta of 0.84.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last announced its earnings results on Tuesday, August 5th. The oil and gas producer reported $0.51 earnings per share (EPS) for the quarter, beating 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 company had revenue of $8.81 billion for the quarter, compared to the consensus estimate of $11.56 billion. During the same period in the previous year, the business earned $1.27 EPS. Equities research analysts anticipate that Suncor Energy Inc. will post 3.42 earnings per share for the current year.

Suncor Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be paid a dividend of $0.4135 per share. 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. This represents a $1.65 annualized dividend and a yield of 4.1%. Suncor Energy's dividend payout ratio (DPR) is presently 51.08%.

About Suncor Energy

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.