Suncor Energy Inc. (NYSE:SU) Shares Bought by Mediolanum International Funds Ltd

Key Points

• Mediolanum International Funds Ltd increased its stake in Suncor Energy by 11.4%, owning 308,558 shares worth approximately $11.86 million as of the end of the first quarter.
• Suncor Energy's quarterly earnings report showed earnings per share of $0.91, exceeding analyst expectations of $0.86, while revenue was reported at $9.10 billion, below the estimated $13.39 billion.
• The company recently announced a dividend increase to $0.4133 per share, offering a yield of 4.20%, up from the previous $0.40 quarterly dividend.

Mediolanum International Funds Ltd raised its stake in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 11.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 308,558 shares of the oil and gas producer's stock after purchasing an additional 31,521 shares during the period. Mediolanum International Funds Ltd's holdings in Suncor Energy were worth $11,864,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. AE Wealth Management LLC purchased a new stake in shares of Suncor Energy in the first quarter worth approximately $215,000. Winthrop Capital Management LLC increased its holdings in Suncor Energy by 2.6% during the 1st quarter. Winthrop Capital Management LLC now owns 13,654 shares of the oil and gas producer's stock worth $529,000 after purchasing an additional 352 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in Suncor Energy during the 1st quarter worth $3,079,000. HighPoint Advisor Group LLC boosted its position in Suncor Energy by 13.3% during the 1st quarter. HighPoint Advisor Group LLC now owns 6,243 shares of the oil and gas producer's stock valued at $223,000 after acquiring an additional 734 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its position in shares of Suncor Energy by 5.6% in the 1st quarter. Allianz Asset Management GmbH now owns 3,594,783 shares of the oil and gas producer's stock worth $139,169,000 after purchasing an additional 191,802 shares in the last quarter. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Suncor Energy Stock Performance

Shares of SU stock traded down $0.39 on Wednesday, hitting $39.69. The company had a trading volume of 659,540 shares, compared to its average volume of 4,806,748. The firm has a market cap of $48.52 billion, a P/E ratio of 11.44, a price-to-earnings-growth ratio of 3.52 and a beta of 0.80. The company has a 50-day moving average price of $38.25 and a 200-day moving average price of $37.37. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.21. Suncor Energy Inc. has a twelve month low of $30.79 and a twelve month high of $41.94.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last released its quarterly earnings results on Tuesday, May 6th. The oil and gas producer reported $0.91 earnings per share for the quarter, topping 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 prior year, the firm posted $1.41 EPS. As a group, equities research analysts predict that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Wednesday, June 4th were given a $0.4133 dividend. The ex-dividend date was Wednesday, June 4th. This is a positive change from Suncor Energy's previous quarterly dividend of $0.40. This represents a $1.65 dividend on an annualized basis and a dividend yield of 4.17%. Suncor Energy's dividend payout ratio is 47.84%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut 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 given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $66.00.

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.