Miller Howard Investments Inc. NY Lowers Holdings in Suncor Energy Inc. $SU

Key Points

• Miller Howard Investments Inc. NY reduced its stake in Suncor Energy by 7.7%, selling 8,913 shares, leaving it with 106,787 shares valued at nearly $4 million.
• Suncor Energy recently reported earnings of $0.51 per share, exceeding expectations, although its revenue of $8.81 billion fell short of analyst estimates.
• The company announced a quarterly dividend increase to $0.4135 per share, resulting in an annualized dividend of $1.65 and a yield of 4.0%.

Miller Howard Investments Inc. NY trimmed its stake in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 7.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 106,787 shares of the oil and gas producer's stock after selling 8,913 shares during the period. Miller Howard Investments Inc. NY's holdings in Suncor Energy were worth $3,999,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in SU. Hanson & Doremus Investment Management grew its holdings in shares of Suncor Energy by 143.5% in the first quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer's stock worth $31,000 after purchasing an additional 465 shares during the last quarter. Salem Investment Counselors Inc. grew its stake in Suncor Energy by 97.6% in the 1st quarter. Salem Investment Counselors Inc. now owns 820 shares of the oil and gas producer's stock valued at $32,000 after acquiring an additional 405 shares during the period. N.E.W. Advisory Services LLC acquired a new stake in Suncor Energy during the 1st quarter worth $36,000. Wayfinding Financial LLC purchased a new stake in shares of Suncor Energy in the 1st quarter valued at approximately $42,000. Finally, ORG Wealth Partners LLC purchased a new stake in Suncor Energy in the 1st quarter valued at about $44,000. 67.37% of the stock is currently owned by institutional investors.

Suncor Energy Stock Up 2.1%

Shares of SU stock traded up $0.88 during trading hours on Tuesday, reaching $42.66. 1,193,756 shares of the stock were exchanged, compared to its average volume of 4,670,119. The business's fifty day moving average is $40.10 and its two-hundred day moving average is $37.83. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.26 and a quick ratio of 0.77. The firm has a market capitalization of $51.58 billion, a P/E ratio of 13.13, a P/E/G ratio of 3.37 and a beta of 0.87. 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 quarterly earnings data on Tuesday, August 5th. The oil and gas producer reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.01. Suncor Energy had a net margin of 11.35% and a return on equity of 13.21%. The company had revenue of $8.81 billion for the quarter, compared to the consensus estimate of $11.56 billion. During the same period last year, the firm posted $1.27 EPS. As a group, research analysts expect that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The company also recently declared 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. The ex-dividend date is Thursday, September 4th. This represents a $1.65 dividend on an annualized basis and a dividend yield of 3.9%. This is an increase from Suncor Energy's previous quarterly dividend of $0.41. Suncor Energy's payout ratio is currently 50.77%.

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.