Wealth Enhancement Advisory Services LLC Lowers Holdings in Suncor Energy Inc. $SU

Wealth Enhancement Advisory Services LLC lowered its position in Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 1.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 251,602 shares of the oil and gas producer’s stock after selling 4,156 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Suncor Energy were worth $9,649,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Hanson & Doremus Investment Management lifted its position 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 worth $31,000 after buying an additional 465 shares during the last quarter. Salem Investment Counselors Inc. increased its holdings in shares of Suncor Energy by 97.6% in 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 during the period. N.E.W. Advisory Services LLC acquired a new position in shares of Suncor Energy in the 1st quarter valued at $36,000. Wayfinding Financial LLC acquired a new position in shares of Suncor Energy in the 1st quarter valued at $42,000. Finally, ORG Wealth Partners LLC acquired a new position in shares of Suncor Energy in the 1st quarter valued at $44,000. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Suncor Energy Stock Performance

Shares of Suncor Energy stock opened at $41.78 on Tuesday. The firm’s fifty day simple moving average is $40.10 and its 200-day simple moving average is $37.83. The stock 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. Suncor Energy Inc. has a 12 month low of $30.79 and a 12 month high of $43.48. 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) (TSE:SU) last announced its quarterly earnings data on Tuesday, August 5th. The oil and gas producer reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.01. The company had revenue of $8.81 billion for the quarter, compared to analysts’ expectations 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 in the previous year, the company posted $1.27 EPS. As a group, equities analysts forecast that Suncor Energy Inc. will post 3.42 earnings per share for the current year.

Suncor Energy Increases Dividend

The firm 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 $0.4135 dividend. The ex-dividend date is Thursday, September 4th. This represents a $1.65 annualized dividend and a dividend yield of 4.0%. This is a boost from Suncor Energy’s previous quarterly dividend of $0.41. Suncor Energy’s payout ratio is presently 50.77%.

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.