1832 Asset Management L.P. Has $752.28 Million Position in Suncor Energy Inc. $SU

Key Points

• 1832 Asset Management L.P. has reduced its stake in Suncor Energy Inc. by 3.1%, now holding approximately 19.4 million shares valued at $752 million.
• Suncor Energy recently announced an increase in its quarterly dividend to $0.4135 per share, up from the previous $0.41, reflecting a dividend yield of 4.2%.
• The company reported earnings per share of $0.51 for the latest quarter, beating analysts' expectations, but revenue fell short of projections at $8.81 billion.

1832 Asset Management L.P. decreased its position in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 3.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,428,675 shares of the oil and gas producer's stock after selling 613,889 shares during the period. Suncor Energy makes up approximately 0.7% of 1832 Asset Management L.P.'s holdings, making the stock its 18th biggest position. 1832 Asset Management L.P. owned 1.58% of Suncor Energy worth $752,278,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Stifel Financial Corp boosted its position in Suncor Energy by 0.3% during the 4th quarter. Stifel Financial Corp now owns 95,508 shares of the oil and gas producer's stock worth $3,408,000 after acquiring an additional 265 shares during the period. Sagespring Wealth Partners LLC lifted its holdings in Suncor Energy by 5.8% in the first quarter. Sagespring Wealth Partners LLC now owns 6,065 shares of the oil and gas producer's stock worth $235,000 after purchasing an additional 332 shares during the period. Winthrop Capital Management LLC grew its position in Suncor Energy by 2.6% in the 1st quarter. Winthrop Capital Management LLC now owns 13,654 shares of the oil and gas producer's stock valued at $529,000 after buying an additional 352 shares in the last quarter. Salem Investment Counselors Inc. increased 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 buying an additional 405 shares during the period. Finally, Hanson & Doremus Investment Management increased 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 buying an additional 465 shares during the period. Institutional investors and hedge funds own 67.37% of the company's stock.

Suncor Energy Price Performance

Shares of NYSE SU traded up $0.72 during mid-day trading on Wednesday, reaching $40.80. 1,053,213 shares of the company traded hands, compared to its average volume of 4,654,622. The firm has a market cap of $49.68 billion, a PE ratio of 12.54, a price-to-earnings-growth ratio of 3.48 and a beta of 0.84. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.26 and a quick ratio of 0.77. Suncor Energy Inc. has a fifty-two week low of $30.79 and a fifty-two week high of $41.75. The stock has a fifty day simple moving average of $39.06 and a 200-day simple moving average of $37.42.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last issued its quarterly earnings results on Tuesday, August 5th. The oil and gas producer reported $0.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.50 by $0.01. The firm had revenue of $8.81 billion during the quarter, compared to analyst estimates of $11.56 billion. Suncor Energy had a return on equity of 13.21% and a net margin of 11.35%.During the same period last year, the company posted $1.27 EPS. Equities research analysts anticipate that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be issued a $0.4135 dividend. This represents a $1.65 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Thursday, September 4th. This is an increase from Suncor Energy's previous quarterly dividend of $0.41. Suncor Energy's payout ratio is presently 51.08%.

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.