Suncor Energy Inc. $SU Shares Sold by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd lessened its stake in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 4.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,235 shares of the oil and gas producer’s stock after selling 1,753 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Suncor Energy were worth $1,282,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Hanson & Doremus Investment Management lifted its holdings in shares of Suncor Energy by 143.5% during the 1st quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer’s stock valued at $31,000 after acquiring an additional 465 shares in the last quarter. Salem Investment Counselors Inc. lifted its holdings in shares of Suncor Energy by 97.6% during the 1st quarter. Salem Investment Counselors Inc. now owns 820 shares of the oil and gas producer’s stock valued at $32,000 after acquiring an additional 405 shares in the last quarter. N.E.W. Advisory Services LLC acquired a new position in shares of Suncor Energy during the 1st quarter valued at $36,000. Wayfinding Financial LLC acquired a new position in shares of Suncor Energy during the 1st quarter valued at $42,000. Finally, ORG Wealth Partners LLC acquired a new position in shares of Suncor Energy during the 1st quarter valued at $44,000. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Stock Performance

NYSE:SU opened at $41.78 on Tuesday. 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 firm has a market capitalization of $50.51 billion, a price-to-earnings ratio of 12.85, a PEG ratio of 3.37 and a beta of 0.87. The firm’s fifty day simple moving average is $40.10 and its 200 day simple moving average is $37.83. Suncor Energy Inc. has a twelve month low of $30.79 and a twelve month high of $43.48.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its earnings results on Tuesday, August 5th. The oil and gas producer reported $0.51 earnings per share for the quarter, beating the consensus estimate 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 quarter in the previous year, the business posted $1.27 EPS. As a group, equities research analysts expect that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be paid a dividend of $0.4135 per share. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $1.65 annualized dividend and a yield of 4.0%. Suncor Energy’s payout ratio is presently 50.77%.

About Suncor Energy

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.