Suncor Energy’s (SU) “Outperform” Rating Reiterated at Royal Bank Of Canada

Royal Bank Of Canada reiterated their outperform rating on shares of Suncor Energy (NYSE:SU) (TSE:SU) in a research report sent to investors on Friday,Benzinga reports. The brokerage currently has a $65.00 target price on the oil and gas producer’s stock.

Suncor Energy Stock Up 0.6%

Shares of NYSE SU opened at $41.36 on Friday. The business has a 50-day moving average of $40.59 and a two-hundred day moving average of $38.17. The company has a market capitalization of $50.00 billion, a price-to-earnings ratio of 12.72, a price-to-earnings-growth ratio of 3.35 and a beta of 0.78. Suncor Energy has a 1 year low of $30.79 and a 1 year 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 issued 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 analyst estimates of $11.56 billion. Suncor Energy had a return on equity of 13.21% and a net margin of 11.35%.During the same quarter last year, the company earned $1.27 EPS. On average, analysts forecast that Suncor Energy will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th were issued a $0.4135 dividend. This represents a $1.65 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Thursday, September 4th. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.41. Suncor Energy’s dividend payout ratio (DPR) is currently 51.08%.

Institutional Investors Weigh In On Suncor Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Hanson & Doremus Investment Management boosted its stake in Suncor Energy by 143.5% in the first 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. Headlands Technologies LLC acquired a new stake in shares of Suncor Energy in the 2nd quarter valued at about $31,000. Salem Investment Counselors Inc. grew its stake in 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 worth $32,000 after buying an additional 405 shares during the last quarter. Maseco LLP purchased a new position in Suncor Energy during the 2nd quarter worth approximately $32,000. Finally, N.E.W. Advisory Services LLC acquired a new position in Suncor Energy during the first quarter worth approximately $36,000. 67.37% of the stock is owned by hedge funds and other institutional investors.

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.