Suncor Energy (TSE:SU) Cut to “Neutral” at Gerdes Energy Research

Gerdes Energy Research downgraded shares of Suncor Energy (TSE:SUFree Report) (NYSE:SU) from a buy rating to a neutral rating in a research note released on Wednesday morning,BayStreet.CA reports. The firm currently has C$97.00 price objective on the stock, up from their prior price objective of C$96.00.

SU has been the topic of a number of other reports. Desjardins set a C$107.00 price target on Suncor Energy and gave the stock a “buy” rating in a research note on Friday, July 17th. The Goldman Sachs Group lowered Suncor Energy from a “buy” rating to a “hold” rating in a research note on Friday, June 5th. Scotiabank upgraded shares of Suncor Energy to a “strong-buy” rating in a report on Friday, June 26th. Royal Bank Of Canada lifted their target price on shares of Suncor Energy from C$89.00 to C$100.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 8th. Finally, ATB Cormark Capital Markets upgraded shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a report on Wednesday, April 1st. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$95.88.

Read Our Latest Analysis on SU

Suncor Energy Stock Down 0.7%

Shares of TSE:SU opened at C$92.85 on Wednesday. The stock’s 50-day moving average price is C$85.27 and its 200-day moving average price is C$82.07. Suncor Energy has a 12-month low of C$52.95 and a 12-month high of C$96.53. The stock has a market capitalization of C$109.63 billion, a P/E ratio of 17.65, a price-to-earnings-growth ratio of 0.15 and a beta of 0.17. The company has a current ratio of 1.42, a quick ratio of 0.83 and a debt-to-equity ratio of 32.36.

Suncor Energy (TSE:SUGet Free Report) (NYSE:SU) last released its earnings results on Tuesday, May 5th. The company reported C$1.93 earnings per share for the quarter. The company had revenue of C$14.48 billion during the quarter. Suncor Energy had a return on equity of 14.01% and a net margin of 12.17%. On average, equities analysts anticipate that Suncor Energy will post 4.4208333 earnings per share for the current year.

Suncor Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 25th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Thursday, June 4th. Suncor Energy’s payout ratio is currently 44.49%.

Suncor Energy Company Profile

(Get Free Report)

Suncor Energy Inc is an integrated energy company. The company’s operations include oil sands development, production and upgrading, offshore oil and gas, petroleum refining in Canada and the U.S. and the company’s PetroCanada retail and wholesale distribution networks. The company is developing petroleum resources while advancing the transition to a low-emissions future through investment in power, renewable fuels and hydrogen. It also conducts energy trading activities focused principally on the marketing and trading of crude oil, natural gas, byproducts, refined products and power.

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Analyst Recommendations for Suncor Energy (TSE:SU)

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