Voya Investment Management LLC Decreases Stake in Suncor Energy Inc. $SU

Key Points

• Voya Investment Management LLC reduced its stake in Suncor Energy by 18.3%, selling 36,729 shares during the first quarter, leaving them with 163,964 shares valued at approximately $6.35 million.
• Suncor Energy is set to increase its quarterly dividend to $0.4135 per share, representing an annualized rate of $1.65 and a dividend yield of 3.9%.
• The company's recent earnings report indicated an EPS of $0.51, surpassing analysts' expectations and showing a net margin of 11.35%.

Voya Investment Management LLC lowered its stake in shares of Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU by 18.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 163,964 shares of the oil and gas producer's stock after selling 36,729 shares during the quarter. Voya Investment Management LLC's holdings in Suncor Energy were worth $6,348,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Hanson & Doremus Investment Management grew its position in shares of 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 acquiring an additional 465 shares during the last quarter. Salem Investment Counselors Inc. grew its position in shares of Suncor Energy by 97.6% during the first 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 last quarter. N.E.W. Advisory Services LLC purchased a new position in shares of Suncor Energy during the first quarter worth approximately $36,000. Wayfinding Financial LLC purchased a new position in shares of Suncor Energy during the first quarter worth approximately $42,000. Finally, ORG Wealth Partners LLC purchased a new position in shares of Suncor Energy during the first quarter worth approximately $44,000. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Suncor Energy Stock Performance

Shares of SU traded down $1.14 during mid-day trading on Friday, reaching $41.58. 7,717,165 shares of the company's stock were exchanged, compared to its average volume of 4,303,017. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.26 and a quick ratio of 0.77. The stock has a market capitalization of $50.27 billion, a PE ratio of 12.79, a price-to-earnings-growth ratio of 3.37 and a beta of 0.87. The business's fifty day simple moving average is $40.06 and its 200-day simple moving average is $37.79. Suncor Energy Inc. has a 52-week low of $30.79 and a 52-week high of $43.48.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last announced its earnings results on Tuesday, August 5th. The oil and gas producer reported $0.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.50 by $0.01. The business 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 firm posted $1.27 earnings per share. On average, equities research 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 will be paid on Thursday, September 25th. Shareholders 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 represents a $1.65 annualized dividend and a yield of 4.0%. This is an increase from Suncor Energy's previous quarterly dividend of $0.41. Suncor Energy's dividend payout ratio is presently 50.77%.

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.