Suncor Energy (NYSE:SU) Price Target Raised to $45.00

Suncor Energy (NYSE:SU) (TSE:SU) had its target price boosted by The Goldman Sachs Group from $38.00 to $45.00 in a research report released on Thursday morning, Benzinga reports. They currently have a buy rating on the oil and gas producer’s stock.

Other equities research analysts also recently issued research reports about the company. Morgan Stanley lifted their target price on Suncor Energy from $50.00 to $52.00 and gave the stock an overweight rating in a report on Thursday, March 28th. TD Securities lifted their target price on Suncor Energy from $52.00 to $57.00 and gave the stock a hold rating in a report on Wednesday. Finally, StockNews.com raised Suncor Energy from a hold rating to a buy rating in a report on Thursday, May 16th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $51.67.

Suncor Energy Trading Down 0.9 %

SU stock opened at $40.13 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.51 and a quick ratio of 0.97. The company has a fifty day moving average price of $38.38 and a two-hundred day moving average price of $34.67. Suncor Energy has a one year low of $27.59 and a one year high of $41.50. The stock has a market cap of $51.60 billion, a price-to-earnings ratio of 8.94, a price-to-earnings-growth ratio of 3.63 and a beta of 1.11.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its earnings results on Wednesday, February 21st. The oil and gas producer reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.13. Suncor Energy had a return on equity of 15.69% and a net margin of 15.38%. The company had revenue of $10.39 billion during the quarter, compared to the consensus estimate of $8.46 billion. During the same quarter last year, the firm earned $1.33 earnings per share. Equities analysts anticipate that Suncor Energy will post 3.71 EPS for the current year.

Suncor Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Tuesday, June 4th will be paid a $0.395 dividend. This represents a $1.58 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date is Tuesday, June 4th. Suncor Energy’s dividend payout ratio (DPR) is presently 35.86%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Toronto Dominion Bank raised its stake in Suncor Energy by 59.7% during the first quarter. Toronto Dominion Bank now owns 17,606,934 shares of the oil and gas producer’s stock worth $649,872,000 after acquiring an additional 6,580,260 shares in the last quarter. TD Asset Management Inc raised its stake in Suncor Energy by 16.8% during the fourth quarter. TD Asset Management Inc now owns 32,070,496 shares of the oil and gas producer’s stock worth $1,032,453,000 after acquiring an additional 4,612,764 shares in the last quarter. Invesco Ltd. raised its stake in Suncor Energy by 35.0% during the third quarter. Invesco Ltd. now owns 16,466,624 shares of the oil and gas producer’s stock worth $566,123,000 after acquiring an additional 4,271,009 shares in the last quarter. Alberta Investment Management Corp raised its stake in Suncor Energy by 113.8% during the third quarter. Alberta Investment Management Corp now owns 7,630,881 shares of the oil and gas producer’s stock worth $263,614,000 after acquiring an additional 4,062,019 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in Suncor Energy by 669.2% during the first quarter. Assenagon Asset Management S.A. now owns 4,348,589 shares of the oil and gas producer’s stock worth $160,507,000 after acquiring an additional 3,783,250 shares in the last quarter. Institutional investors and hedge funds own 67.37% of the company’s stock.

About Suncor Energy

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.