Raymond James Financial Inc. Sells 186,454 Shares of Suncor Energy Inc. $SU

Key Points

• Raymond James Financial Inc. has reduced its stake in Suncor Energy Inc. by 35.3%, selling 186,454 shares to hold 341,262 shares worth approximately $13.2 million.
• Suncor Energy recently declared a quarterly dividend increase to $0.4135, representing an annual yield of 4.0%.
• Despite the recent earnings report showing a net margin of 11.35% and a return on equity of 13.21%, revenue of $8.81 billion fell short of analysts' expectations of $11.56 billion.

Raymond James Financial Inc. lowered its position in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 35.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 341,262 shares of the oil and gas producer's stock after selling 186,454 shares during the quarter. Raymond James Financial Inc.'s holdings in Suncor Energy were worth $13,214,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SU. Cresset Asset Management LLC boosted its stake in shares of Suncor Energy by 5.4% during the 1st quarter. Cresset Asset Management LLC now owns 11,046 shares of the oil and gas producer's stock worth $428,000 after buying an additional 568 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Suncor Energy by 2.6% during the first quarter. Dimensional Fund Advisors LP now owns 11,272,827 shares of the oil and gas producer's stock worth $436,459,000 after acquiring an additional 290,900 shares in the last quarter. Gulf International Bank UK Ltd boosted its position in Suncor Energy by 2,767.0% during the first quarter. Gulf International Bank UK Ltd now owns 72,076 shares of the oil and gas producer's stock valued at $2,791,000 after purchasing an additional 69,562 shares during the last quarter. Prudential PLC boosted its position in Suncor Energy by 375.0% during the first quarter. Prudential PLC now owns 115,452 shares of the oil and gas producer's stock valued at $4,471,000 after purchasing an additional 91,144 shares during the last quarter. Finally, Arrowpoint Investment Partners Singapore Pte. Ltd. grew its stake in Suncor Energy by 318.6% in the first quarter. Arrowpoint Investment Partners Singapore Pte. Ltd. now owns 22,300 shares of the oil and gas producer's stock valued at $863,000 after purchasing an additional 16,973 shares in the last quarter. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Suncor Energy Stock Down 1.6%

Shares of Suncor Energy stock traded down $0.65 on Wednesday, reaching $40.66. 10,056,263 shares of the company were exchanged, compared to its average volume of 4,686,778. The company has a market capitalization of $49.52 billion, a price-to-earnings ratio of 12.52, a PEG ratio of 3.56 and a beta of 0.87. 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 one year low of $30.79 and a one year high of $41.76. The company has a 50-day moving average of $39.24 and a 200 day moving average of $37.47.

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. Suncor Energy had a net margin of 11.35% and a return on equity of 13.21%. The business 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 company earned $1.27 earnings per share. On average, equities research analysts forecast 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. Investors of record on Thursday, September 4th will be paid a $0.4135 dividend. This is an increase from Suncor Energy's previous quarterly dividend of $0.41. The ex-dividend date 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 50.46%.

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.