Suncor Energy Inc. $SU Stock Position Reduced by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company has reduced its position in Suncor Energy by 15.6%, selling over 3.7 million shares during the first quarter.
• Suncor Energy reported a quarterly EPS of $0.51, slightly above analysts' expectations, despite having revenue below consensus estimates.
• Recently, Suncor Energy increased its quarterly dividend to $0.4135, reflecting a yield of 4.0% on an annualized basis.

The Manufacturers Life Insurance Company reduced its position in Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 15.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,270,248 shares of the oil and gas producer's stock after selling 3,741,069 shares during the period. Suncor Energy comprises approximately 0.7% of The Manufacturers Life Insurance Company's holdings, making the stock its 18th largest position. The Manufacturers Life Insurance Company owned approximately 1.64% of Suncor Energy worth $788,458,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in SU. Tower Research Capital LLC TRC increased its position in shares of Suncor Energy by 1,102.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,404 shares of the oil and gas producer's stock worth $86,000 after acquiring an additional 2,204 shares in the last quarter. Stifel Financial Corp increased its position in shares of Suncor Energy by 0.3% in the fourth quarter. Stifel Financial Corp now owns 95,508 shares of the oil and gas producer's stock worth $3,408,000 after acquiring an additional 265 shares in the last quarter. Northern Trust Corp increased its position in shares of Suncor Energy by 58.6% in the fourth quarter. Northern Trust Corp now owns 1,317,872 shares of the oil and gas producer's stock worth $47,022,000 after acquiring an additional 487,033 shares in the last quarter. Schonfeld Strategic Advisors LLC increased its position in shares of Suncor Energy by 170.6% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 75,656 shares of the oil and gas producer's stock worth $2,699,000 after acquiring an additional 47,702 shares in the last quarter. Finally, Keel Point LLC increased its position in shares of Suncor Energy by 30.6% in the fourth quarter. Keel Point LLC now owns 7,122 shares of the oil and gas producer's stock worth $254,000 after acquiring an additional 1,669 shares in the last quarter. 67.37% of the stock is owned by hedge funds and other institutional investors.

Suncor Energy Trading Down 1.8%

Shares of Suncor Energy stock traded down $0.76 during trading on Wednesday, hitting $40.55. The stock had a trading volume of 9,747,447 shares, compared to its average volume of 4,684,597. The stock has a 50 day simple moving average of $39.24 and a 200 day simple moving average of $37.47. The company has a market capitalization of $49.39 billion, a PE ratio of 12.48, a P/E/G ratio of 3.56 and a beta of 0.87. The company has a quick ratio of 0.77, a current ratio of 1.26 and a debt-to-equity ratio of 0.19. Suncor Energy Inc. has a 1 year low of $30.79 and a 1 year high of $41.76.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last released its earnings results on Tuesday, August 5th. The oil and gas producer reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.01. The business had revenue of $8.81 billion for the quarter, compared to the consensus estimate of $11.56 billion. Suncor Energy had a net margin of 11.35% and a return on equity of 13.21%. During the same period last year, the firm posted $1.27 earnings per share. On average, research analysts expect that Suncor Energy Inc. will post 3.42 EPS 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. Investors of record on Thursday, September 4th will be given a dividend of $0.4135 per share. The ex-dividend date of this dividend is Thursday, September 4th. This is a boost from Suncor Energy's previous quarterly dividend of $0.41. This represents a $1.65 dividend on an annualized basis and a yield of 4.1%. Suncor Energy's payout ratio is presently 50.46%.

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.