Invesco Ltd. Has $944.72 Million Position in Suncor Energy Inc. (NYSE:SU)

Key Points

• Invesco Ltd. has reduced its stake in Suncor Energy by 12.2%, holding approximately 24.4 million shares valued at around $944.7 million after the sale.
• Several other institutional investors have increased their investments in Suncor Energy, with notable increases of 143.5% and 97.6% by Hanson & Doremus Investment Management and Salem Investment Counselors Inc., respectively.
• Suncor Energy has recently announced a quarterly dividend increase to $0.4135 per share, reflecting a 4.2% yield and a payout ratio of 51.08% based on the annualized dividend.

Invesco Ltd. lowered its holdings in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 12.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,398,798 shares of the oil and gas producer's stock after selling 3,374,995 shares during the quarter. Invesco Ltd. owned 1.98% of Suncor Energy worth $944,721,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SU. Principal Financial Group Inc. lifted its position in shares of Suncor Energy by 65.0% in the 1st quarter. Principal Financial Group Inc. now owns 16,018,129 shares of the oil and gas producer's stock worth $620,136,000 after acquiring an additional 6,311,513 shares during the period. Inscription Capital LLC bought a new stake in shares of Suncor Energy in the 1st quarter worth approximately $247,000. Vident Advisory LLC lifted its position in shares of Suncor Energy by 967.9% in the 4th quarter. Vident Advisory LLC now owns 519,112 shares of the oil and gas producer's stock worth $18,522,000 after acquiring an additional 470,500 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Suncor Energy by 13.3% in the 1st quarter. Bank of New York Mellon Corp now owns 3,492,472 shares of the oil and gas producer's stock worth $135,228,000 after acquiring an additional 409,032 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in shares of Suncor Energy by 14.2% in the 4th quarter. Ameriprise Financial Inc. now owns 623,306 shares of the oil and gas producer's stock worth $22,884,000 after acquiring an additional 77,556 shares during the period. Institutional investors and hedge funds own 67.37% of the company's stock.

Suncor Energy Price Performance

SU traded down $0.03 during trading on Wednesday, hitting $38.82. The company's stock had a trading volume of 156,832 shares, compared to its average volume of 4,712,801. The firm's 50 day moving average price is $38.91 and its two-hundred day moving average price is $37.36. The company has a quick ratio of 0.77, a current ratio of 1.26 and a debt-to-equity ratio of 0.19. Suncor Energy Inc. has a 12 month low of $30.79 and a 12 month high of $41.94. The stock has a market capitalization of $47.27 billion, a price-to-earnings ratio of 11.98, a price-to-earnings-growth ratio of 3.34 and a beta of 0.84.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last issued its quarterly earnings data 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. The firm had revenue of $8.81 billion during the quarter, compared to the consensus estimate of $11.56 billion. Suncor Energy had a return on equity of 13.21% and a net margin of 11.35%. During the same quarter in the previous year, the company posted $1.27 EPS. Sell-side analysts forecast that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders 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 of this dividend is Thursday, September 4th. This represents a $1.65 annualized dividend and a dividend yield of 4.3%. Suncor Energy's payout ratio is 50.46%.

Analyst Ratings Changes

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