Wall Street Zen upgraded shares of Suncor Energy (NYSE:SU – Free Report) (TSE:SU) from a buy rating to a strong-buy rating in a research report released on Saturday morning,Wall Street Zen reports.
A number of other research firms have also recently commented on SU. Scotiabank raised shares of Suncor Energy to a “strong-buy” rating in a research report on Friday, June 26th. Weiss Ratings upgraded shares of Suncor Energy from a “buy (b)” rating to a “buy (a-)” rating in a report on Thursday, October 8th. Morgan Stanley set a $106.00 price objective on shares of Suncor Energy in a research report on Wednesday, August 19th. Zacks Research upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 5th. Finally, Desjardins upgraded shares of Suncor Energy to a “moderate buy” rating in a research note on Thursday, July 16th. Three analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $79.62.
Suncor Energy Stock Performance
Shares of NYSE SU opened at $78.39 on Friday. The company has a current ratio of 1.65, a quick ratio of 1.08 and a debt-to-equity ratio of 0.19. Suncor Energy has a 12 month low of $37.76 and a 12 month high of $79.65. The stock has a 50 day moving average of $68.89 and a 200-day moving average of $64.86. The company has a market capitalization of $91.69 billion, a P/E ratio of 13.94, a P/E/G ratio of 0.51 and a beta of 0.36.
Suncor Energy (NYSE:SU – Get Free Report) (TSE:SU) last posted its earnings results on Tuesday, August 4th. The oil and gas producer reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.19. Suncor Energy had a return on equity of 20.05% and a net margin of 15.62%. The business had revenue of $13.41 billion for the quarter, compared to analyst estimates of $11.68 billion. During the same period in the previous year, the firm earned $0.71 EPS. As a group, equities research analysts predict that Suncor Energy will post 8.12 EPS for the current year.
Suncor Energy Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 4th were paid a C$0.60 dividend. The ex-dividend date of this dividend was Friday, September 4th. This represents a $2.40 annualized dividend and a yield of 3.1%. Suncor Energy’s dividend payout ratio (DPR) is 31.86%.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Valeo Financial Advisors LLC grew its stake in Suncor Energy by 1.6% during the third quarter. Valeo Financial Advisors LLC now owns 10,239 shares of the oil and gas producer’s stock valued at $695,000 after acquiring an additional 166 shares in the last quarter. Formidable Asset Management LLC increased its holdings in Suncor Energy by 1.1% in the 1st quarter. Formidable Asset Management LLC now owns 16,004 shares of the oil and gas producer’s stock valued at $1,058,000 after acquiring an additional 171 shares during the last quarter. Mitchell & Pahl Private Wealth LLC increased its holdings in Suncor Energy by 0.8% in the 1st quarter. Mitchell & Pahl Private Wealth LLC now owns 24,278 shares of the oil and gas producer’s stock valued at $1,605,000 after acquiring an additional 190 shares during the last quarter. DGS Capital Management LLC lifted its stake in Suncor Energy by 3.2% in the 4th quarter. DGS Capital Management LLC now owns 6,149 shares of the oil and gas producer’s stock worth $273,000 after purchasing an additional 193 shares in the last quarter. Finally, Sage Investment Counsel LLC lifted its stake in Suncor Energy by 2.4% in the 1st quarter. Sage Investment Counsel LLC now owns 8,600 shares of the oil and gas producer’s stock worth $569,000 after purchasing an additional 200 shares in the last quarter. Institutional investors own 67.37% of the company’s stock.
About Suncor Energy
Suncor Energy Inc is an integrated energy company headquartered in Calgary, Alberta, Canada. Its operations span the energy value chain, including the development, production, upgrading, refining, and marketing of crude oil and petroleum products.
The company is one of Canada’s major oil sands producers, with interests in mining and in situ oil sands projects. Suncor produces bitumen and synthetic crude oil and also has conventional oil and offshore production interests. Its upstream portfolio includes operated and non-operated assets in Canada.
Through its downstream operations, Suncor refines crude oil into gasoline, diesel, jet fuel, asphalt, and other petroleum products.
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