USS Investment Management Ltd Cuts Holdings in 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 cut its stake in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 82.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Hanson & Doremus Investment Management boosted its stake in Suncor Energy by 143.5% during the first quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer's stock worth $31,000 after buying an additional 465 shares during the last quarter. Salem Investment Counselors Inc. raised its holdings in shares of 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 worth $32,000 after acquiring an additional 405 shares during the period. N.E.W. Advisory Services LLC acquired a new position in shares of Suncor Energy during the 1st quarter valued at about $36,000. Wayfinding Financial LLC purchased a new stake in shares of Suncor Energy in the first quarter valued at about $42,000. Finally, ORG Wealth Partners LLC acquired a new stake in Suncor Energy during the first quarter worth about $44,000. Institutional investors and hedge funds own 67.37% of the company's stock.

Suncor Energy Trading Down 0.6%

SU stock traded down $0.25 during trading on Thursday, reaching $42.01. 3,043,483 shares of the stock were exchanged, compared to its average volume of 4,199,756. The company has a current ratio of 1.26, a quick ratio of 0.77 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $50.98 billion, a price-to-earnings ratio of 12.93, a P/E/G ratio of 3.64 and a beta of 0.87. The business has a 50 day moving average price of $39.59 and a 200-day moving average price of $37.52. Suncor Energy Inc. has a 1 year low of $30.79 and a 1 year high of $42.40.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last released its quarterly earnings results on Tuesday, August 5th. The oil and gas producer reported $0.51 EPS for the quarter, beating the consensus estimate of $0.50 by $0.01. The firm had revenue of $8.81 billion for the quarter, compared to analyst estimates of $11.56 billion. Suncor Energy had a net margin of 11.35% and a return on equity of 13.21%. During the same quarter in the previous year, the company earned $1.27 EPS. On average, research analysts predict 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 will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th will be paid a $0.4135 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This is a positive change from Suncor Energy's previous quarterly dividend of $0.41. This represents a $1.65 annualized dividend and a dividend yield of 3.9%. Suncor Energy's payout ratio is 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.