Suncor Energy (NYSE:SU) Given New $52.00 Price Target at Morgan Stanley

Suncor Energy (NYSE:SU) (TSE:SU) had its price target boosted by Morgan Stanley from $50.00 to $52.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have an overweight rating on the oil and gas producer’s stock.

Suncor Energy Price Performance

NYSE:SU opened at $36.91 on Thursday. Suncor Energy has a 52 week low of $27.59 and a 52 week high of $36.97. The company has a quick ratio of 0.88, a current ratio of 1.44 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $47.54 billion, a P/E ratio of 7.85, a P/E/G ratio of 3.40 and a beta of 1.12. The stock’s fifty day moving average is $33.76 and its two-hundred day moving average is $33.24.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its earnings results on Wednesday, February 21st. The oil and gas producer reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.13. Suncor Energy had a return on equity of 16.08% and a net margin of 16.33%. The company had revenue of $10.39 billion for the quarter, compared to the consensus estimate of $8.46 billion. During the same quarter in the previous year, the business earned $1.33 earnings per share. Equities analysts expect that Suncor Energy will post 3.58 EPS for the current year.

Suncor Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Monday, March 4th were issued a $0.406 dividend. This represents a $1.62 annualized dividend and a dividend yield of 4.40%. The ex-dividend date of this dividend was Friday, March 1st. This is an increase from Suncor Energy’s previous quarterly dividend of $0.39. Suncor Energy’s payout ratio is currently 34.26%.

Institutional Investors Weigh In On Suncor Energy

Several institutional investors and hedge funds have recently modified their holdings of SU. Goldman Sachs Group Inc. raised its holdings in shares of Suncor Energy by 163.1% in the 2nd quarter. Goldman Sachs Group Inc. now owns 16,402,041 shares of the oil and gas producer’s stock valued at $480,908,000 after buying an additional 10,168,941 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in shares of Suncor Energy by 79.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 16,823,815 shares of the oil and gas producer’s stock valued at $548,183,000 after buying an additional 7,438,559 shares during the period. Price T Rowe Associates Inc. MD purchased a new stake in shares of Suncor Energy in the 1st quarter valued at $199,877,000. TD Asset Management Inc raised its holdings in shares of Suncor Energy by 16.8% in the 4th quarter. TD Asset Management Inc now owns 32,070,496 shares of the oil and gas producer’s stock valued at $1,032,453,000 after buying an additional 4,612,764 shares during the period. Finally, Invesco Ltd. grew its stake in Suncor Energy by 35.0% during the 3rd quarter. Invesco Ltd. now owns 16,466,624 shares of the oil and gas producer’s stock worth $566,123,000 after purchasing an additional 4,271,009 shares in the last quarter. Hedge funds and other institutional investors own 67.37% of the company’s stock.

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.