TD Asset Management Inc Reduces Stock Position in Suncor Energy Inc. $SU

Key Points

• TD Asset Management Inc has reduced its holdings in Suncor Energy Inc. by 4.4%, now owning approximately 25.6 million shares worth about $957 million.
• Suncor Energy’s recent earnings report showed earnings per share (EPS) of $0.51, slightly exceeding expectations, but revenue fell short at $8.81 billion against a prediction of $11.56 billion.
• The company increased its quarterly dividend to $0.4135 per share, representing an annualized yield of 4.1%, backed by a dividend payout ratio of 51.08%.

TD Asset Management Inc decreased its holdings in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 4.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,600,991 shares of the oil and gas producer's stock after selling 1,190,687 shares during the quarter. Suncor Energy comprises approximately 0.8% of TD Asset Management Inc's portfolio, making the stock its 27th biggest holding. TD Asset Management Inc owned approximately 2.09% of Suncor Energy worth $957,059,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Ascent Group LLC grew its holdings in shares of Suncor Energy by 4.7% during the second quarter. Ascent Group LLC now owns 5,769 shares of the oil and gas producer's stock worth $216,000 after purchasing an additional 260 shares in the last quarter. IFP Advisors Inc lifted its position in Suncor Energy by 27.6% during the second quarter. IFP Advisors Inc now owns 1,428 shares of the oil and gas producer's stock valued at $53,000 after purchasing an additional 309 shares during the last quarter. Sagespring Wealth Partners LLC grew its stake in Suncor Energy by 5.8% in the 1st quarter. Sagespring Wealth Partners LLC now owns 6,065 shares of the oil and gas producer's stock worth $235,000 after buying an additional 332 shares in the last quarter. Winthrop Capital Management LLC grew its stake in Suncor Energy by 2.6% in the 1st quarter. Winthrop Capital Management LLC now owns 13,654 shares of the oil and gas producer's stock worth $529,000 after buying an additional 352 shares in the last quarter. Finally, Hanson & Doremus Investment Management increased its holdings in shares of Suncor Energy by 143.5% in the 1st 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. Institutional investors own 67.37% of the company's stock.

Suncor Energy Stock Performance

Shares of SU stock opened at $39.94 on Tuesday. The company has a market capitalization of $48.29 billion, a P/E ratio of 12.29, a PEG ratio of 3.20 and a beta of 0.78. Suncor Energy Inc. has a fifty-two week low of $30.79 and a fifty-two week high of $43.48. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.77 and a current ratio of 1.26. The stock has a 50 day moving average price of $40.72 and a two-hundred day moving average price of $38.26.

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 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 firm had revenue of $8.81 billion for the quarter, compared to analysts' expectations of $11.56 billion. During the same quarter last year, the business earned $1.27 earnings per share. Analysts expect that Suncor Energy Inc. will post 3.42 earnings per share for the current year.

Suncor Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th were given a $0.4135 dividend. The ex-dividend date was Thursday, September 4th. This is a positive change from Suncor Energy's previous quarterly dividend of $0.41. This represents a $1.65 dividend on an annualized basis and a dividend yield of 4.1%. Suncor Energy's dividend payout ratio is presently 51.08%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Suncor Energy in a report on Wednesday, October 8th. Royal Bank Of Canada reissued an "outperform" rating and set a $65.00 price objective on shares of Suncor Energy in a report on Friday, October 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $65.00.

Suncor Energy Company 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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