Suncor Energy Inc. (NYSE:SU) Shares Sold by Swiss National Bank

Key Points

• The Swiss National Bank has reduced its holdings in Suncor Energy Inc. (NYSE:SU) by 2.3%, now owning approximately 3,577,692 shares worth $138.63 million after selling 85,300 shares.
• Suncor Energy has increased its quarterly dividend to $0.4135 per share, representing an annualized dividend of $1.65 and a yield of 4.2%.
• The company's recent earnings report showed an EPS of $0.51, exceeding analysts' expectations, although revenue of $8.81 billion fell short of the projected $11.56 billion.

Swiss National Bank decreased its position in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 2.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,577,692 shares of the oil and gas producer's stock after selling 85,300 shares during the quarter. Swiss National Bank owned about 0.29% of Suncor Energy worth $138,629,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its stake in Suncor Energy by 65.0% in the 1st quarter. Principal Financial Group Inc. now owns 16,018,129 shares of the oil and gas producer's stock valued at $620,136,000 after purchasing an additional 6,311,513 shares during the last quarter. Inscription Capital LLC acquired a new position in Suncor Energy in the 1st quarter valued at about $247,000. Vident Advisory LLC raised its stake in Suncor Energy by 967.9% in the 4th quarter. Vident Advisory LLC now owns 519,112 shares of the oil and gas producer's stock valued at $18,522,000 after purchasing an additional 470,500 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Suncor Energy by 13.3% in the 1st quarter. Bank of New York Mellon Corp now owns 3,492,472 shares of the oil and gas producer's stock valued at $135,228,000 after purchasing an additional 409,032 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in Suncor Energy by 14.2% in the 4th quarter. Ameriprise Financial Inc. now owns 623,306 shares of the oil and gas producer's stock valued at $22,884,000 after purchasing an additional 77,556 shares during the last quarter. Institutional investors and hedge funds own 67.37% of the company's stock.

Suncor Energy Trading Down 0.4%

Shares of NYSE SU traded down $0.16 on Wednesday, reaching $38.68. 777,179 shares of the company traded hands, compared to its average volume of 4,716,676. Suncor Energy Inc. has a fifty-two week low of $30.79 and a fifty-two week high of $41.94. The company has a 50 day moving average of $38.91 and a 200 day moving average of $37.36. 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 stock has a market capitalization of $47.11 billion, a PE ratio of 11.91, a P/E/G ratio of 3.34 and a beta of 0.84.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last posted its quarterly earnings data on Tuesday, August 5th. The oil and gas producer reported $0.51 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $11.56 billion. During the same quarter in the prior year, the company posted $1.27 EPS. On average, equities research analysts forecast that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The business 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 dividend of $0.4135 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $1.65 dividend on an annualized basis and a dividend yield of 4.3%. This is an increase from Suncor Energy's previous quarterly dividend of $0.41. Suncor Energy's dividend payout ratio is currently 50.46%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of Suncor Energy from a "buy" rating to a "hold" rating in a research note on Thursday, April 17th. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $66.00.

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.