USS Investment Management Ltd Sells 263,400 Shares of Suncor Energy Inc. $SU

Key Points

• USS Investment Management Ltd significantly cut its holdings in Suncor Energy by 82.9% in the first quarter, now owning 54,203 shares worth $2.1 million after selling 263,400 shares.
• Suncor Energy plans to pay a quarterly dividend of $0.4135 per share, a slight increase from the previous dividend, with a 4.1% yield and a payout ratio of 50.77%.
• In its latest earnings report, Suncor Energy reported $0.51 earnings per share, beating estimates by $0.01, but had a revenue of $8.81 billion, below the expected $11.56 billion.

USS Investment Management Ltd decreased its stake in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 82.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 54,203 shares of the oil and gas producer's stock after selling 263,400 shares during the period. USS Investment Management Ltd's holdings in Suncor Energy were worth $2,100,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Principal Financial Group Inc. raised its position in Suncor Energy by 65.0% in the first 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 Suncor Energy in the first quarter worth about $247,000. Vident Advisory LLC raised its position in Suncor Energy by 967.9% in the fourth 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 raised its position in Suncor Energy by 13.3% in the first 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. raised its position in Suncor Energy by 14.2% in the fourth 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 own 67.37% of the company's stock.

Suncor Energy Stock Performance

SU stock traded down $0.29 during mid-day trading on Friday, hitting $41.73. The company had a trading volume of 1,937,645 shares, compared to its average volume of 4,256,477. The firm has a market cap of $50.63 billion, a PE ratio of 12.84, a price-to-earnings-growth ratio of 3.59 and a beta of 0.87. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.77 and a current ratio of 1.26. Suncor Energy Inc. has a 12 month low of $30.79 and a 12 month high of $42.40. The stock's fifty day moving average price is $39.72 and its two-hundred day moving average price is $37.55.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last announced its quarterly earnings data on Tuesday, August 5th. The oil and gas producer reported $0.51 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 business had revenue of $8.81 billion for the quarter, compared to analyst estimates of $11.56 billion. During the same quarter in the previous year, the firm posted $1.27 earnings per share. On average, analysts forecast that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th will be given a $0.4135 dividend. This represents a $1.65 annualized dividend and a dividend yield of 4.0%. 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. Suncor Energy's payout ratio is presently 50.77%.

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.