Suncor Energy Inc. $SU Shares Sold by Easterly Investment Partners LLC

Key Points

• Easterly Investment Partners LLC reduced its stake in Suncor Energy by 42.9%, selling 122,921 shares, leaving them with 163,736 shares valued at approximately $6.13 million.
• Suncor Energy reported $0.51 earnings per share for the most recent quarter, exceeding analysts' expectations, but its revenue fell short at $8.81 billion compared to the expected $11.56 billion.
• The company increased its quarterly dividend to $0.4135 per share, representing a 4.3% yield, with a payout ratio of 51.08%.

Easterly Investment Partners LLC lowered its holdings in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 42.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 163,736 shares of the oil and gas producer's stock after selling 122,921 shares during the period. Easterly Investment Partners LLC's holdings in Suncor Energy were worth $6,132,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Maseco LLP purchased a new position in shares of Suncor Energy during the 2nd quarter worth approximately $32,000. N.E.W. Advisory Services LLC purchased a new position in Suncor Energy during the first quarter worth $36,000. Wayfinding Financial LLC acquired a new stake in shares of Suncor Energy during the first quarter valued at $42,000. ORG Wealth Partners LLC purchased a new stake in Suncor Energy during the 1st quarter worth about $44,000. Finally, Harbour Investments Inc. raised its stake in Suncor Energy by 67.0% in the 1st quarter. Harbour Investments Inc. now owns 1,169 shares of the oil and gas producer's stock valued at $45,000 after purchasing an additional 469 shares during the last quarter. Hedge funds and other institutional investors own 67.37% of the company's stock.

Suncor Energy Stock Performance

Shares of NYSE:SU opened at $38.57 on Friday. The business has a 50-day moving average of $40.71 and a two-hundred day moving average of $38.27. The firm has a market capitalization of $46.63 billion, a PE ratio of 11.87, a P/E/G ratio of 3.09 and a beta of 0.78. 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 12 month low of $30.79 and a 12 month high of $43.48.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.50 by $0.01. The business had revenue of $8.81 billion during the quarter, compared to analysts' expectations 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 business earned $1.27 EPS. As a group, research analysts forecast that Suncor Energy Inc. will post 3.42 earnings per share for the current year.

Suncor Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th were paid a dividend of $0.4135 per share. This is an increase from Suncor Energy's previous quarterly dividend of $0.41. This represents a $1.65 annualized dividend and a yield of 4.3%. The ex-dividend date was Thursday, September 4th. Suncor Energy's payout ratio is presently 51.08%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Royal Bank Of Canada reiterated an "outperform" rating and set a $65.00 price target on shares of Suncor Energy in a report on Friday, October 3rd. Zacks Research cut shares of Suncor Energy from a "hold" rating to a "strong sell" rating in a research note on Wednesday. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Suncor Energy in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Suncor Energy has a consensus rating of "Moderate Buy" and an average target price of $65.00.

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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