Suncor Energy Inc. (NYSE:SU) Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. sold 20,088 shares of Suncor Energy, maintaining a total holding of approximately 52.99 million shares, valued at about $2.05 billion.
• Suncor Energy recently reported $0.51 earnings per share for the last quarter, slightly surpassing analysts' expectations, but had a revenue of $8.81 billion, which fell short of the $11.56 billion estimate.
• The company will pay a quarterly dividend of $0.4135 on September 25th, reflecting a positive change from the previous dividend and an annualized yield of 4.2%.

Vanguard Group Inc. cut its holdings in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 0.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 52,999,269 shares of the oil and gas producer's stock after selling 20,088 shares during the period. Vanguard Group Inc. owned 4.30% of Suncor Energy worth $2,052,132,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Toronto Dominion Bank increased its position in shares of Suncor Energy by 3.0% during the fourth quarter. Toronto Dominion Bank now owns 19,098,225 shares of the oil and gas producer's stock worth $680,847,000 after purchasing an additional 552,018 shares in the last quarter. Principal Financial Group Inc. boosted its holdings 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 valued at $620,136,000 after purchasing an additional 6,311,513 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in Suncor Energy by 18.6% in the first quarter. Mackenzie Financial Corp now owns 15,377,546 shares of the oil and gas producer's stock valued at $595,398,000 after purchasing an additional 2,410,857 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Suncor Energy by 83.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 12,426,008 shares of the oil and gas producer's stock worth $481,135,000 after acquiring an additional 5,658,880 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Suncor Energy by 4.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 10,981,927 shares of the oil and gas producer's stock worth $391,809,000 after acquiring an additional 445,613 shares in the last quarter. 67.37% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered 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 issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Suncor Energy has a consensus rating of "Moderate Buy" and an average target price of $66.00.

Suncor Energy Price Performance

Suncor Energy stock traded up $0.05 during midday trading on Tuesday, reaching $38.84. The company had a trading volume of 2,785,797 shares, compared to its average volume of 3,299,049. The company has a market capitalization of $47.30 billion, a P/E ratio of 11.95, a P/E/G ratio of 3.34 and a beta of 0.84. Suncor Energy Inc. has a 12-month low of $30.79 and a 12-month high of $41.94. The firm's fifty day simple moving average is $38.88 and its 200-day simple moving average is $37.35. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.26 and a quick ratio of 0.77.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last issued its quarterly earnings results on Tuesday, August 5th. The oil and gas producer reported $0.51 earnings per share for the quarter, beating analysts' consensus estimates 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 period last year, the company posted $1.27 EPS. As a group, equities analysts anticipate that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be issued a $0.4135 dividend. This represents a $1.65 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Thursday, September 4th. This is a positive change from Suncor Energy's previous quarterly dividend of $0.41. Suncor Energy's payout ratio is currently 51.08%.

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.