Scotia Capital Inc. Sells 13,638 Shares of Suncor Energy Inc. (NYSE:SU)

Key Points

• Scotia Capital Inc. has reduced its stake in Suncor Energy by 0.3%, selling 13,638 shares, and currently holds 4,426,094 shares, valued at approximately $171.2 million.
• Suncor Energy reported earnings of $0.91 per share for the recent quarter, surpassing analysts' expectations of $0.86, despite a significant decline in revenue compared to the previous year.
• The company has increased its quarterly dividend to $0.4133 per share, reflecting a yield of 4.2%, which is higher than the previous dividend of $0.40.

Scotia Capital Inc. decreased its position in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 0.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,426,094 shares of the oil and gas producer's stock after selling 13,638 shares during the quarter. Scotia Capital Inc. owned 0.36% of Suncor Energy worth $171,219,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Hanson & Doremus Investment Management increased its position in shares of 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 last quarter. Salem Investment Counselors Inc. increased its position in shares of 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 last quarter. N.E.W. Advisory Services LLC bought a new position in shares of Suncor Energy during the 1st quarter valued at approximately $36,000. Covestor Ltd increased its position in shares of Suncor Energy by 30.5% during the 4th 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 during the last quarter. Finally, Wayfinding Financial LLC bought a new position in shares of Suncor Energy during the 1st quarter valued at approximately $42,000. Institutional investors own 67.37% of the company's stock.

Suncor Energy Price Performance

SU opened at $39.06 on Friday. The business has a fifty day moving average of $38.49 and a 200 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 quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.21. The stock has a market cap of $47.57 billion, a P/E ratio of 11.26, a PEG ratio of 3.44 and a beta of 0.84.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last posted its quarterly earnings data on Tuesday, May 6th. The oil and gas producer reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.86 by $0.05. Suncor Energy had a return on equity of 14.90% and a net margin of 11.95%. The company had revenue of $9.10 billion during the quarter, compared to analysts' expectations of $13.39 billion. During the same quarter in the previous year, the business earned $1.41 EPS. As a group, sell-side analysts anticipate 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 was paid on Wednesday, June 25th. Investors of record on Wednesday, June 4th were issued a dividend of $0.4133 per share. This represents a $1.65 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date was Wednesday, June 4th. This is an increase from Suncor Energy's previous quarterly dividend of $0.40. Suncor Energy's dividend payout ratio (DPR) is presently 47.84%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded Suncor Energy from a "buy" rating to a "hold" rating in a research report on Thursday, April 17th. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Suncor Energy has a consensus rating of "Moderate Buy" and a consensus price target of $66.00.

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.

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