Suncor Energy (NYSE:SU) Upgraded at TD Securities

TD Securities upgraded shares of Suncor Energy (NYSE:SU) (TSE:SU) from a hold rating to a buy rating in a research note published on Wednesday morning, Marketbeat reports.

Several other brokerages also recently issued reports on SU. Scotiabank cut their price objective on Suncor Energy from $61.00 to $60.00 and set a sector perform rating for the company in a research report on Friday, July 12th. Wolfe Research began coverage on shares of Suncor Energy in a research report on Thursday, July 18th. They set an outperform rating and a $68.00 price target on the stock. StockNews.com lowered shares of Suncor Energy from a buy rating to a hold rating in a report on Saturday, July 20th. The Goldman Sachs Group boosted their target price on shares of Suncor Energy from $38.00 to $45.00 and gave the stock a buy rating in a research note on Thursday, May 23rd. Finally, Raymond James raised shares of Suncor Energy to a hold rating in a research note on Tuesday, May 28th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $54.75.

Suncor Energy Trading Up 1.3 %

Shares of Suncor Energy stock opened at $39.19 on Wednesday. Suncor Energy has a 12-month low of $29.45 and a 12-month high of $41.50. The stock has a market capitalization of $50.22 billion, a P/E ratio of 8.62, a price-to-earnings-growth ratio of 3.34 and a beta of 1.12. The company has a 50-day simple moving average of $38.09 and a 200 day simple moving average of $36.94. The company has a quick ratio of 0.97, a current ratio of 1.51 and a debt-to-equity ratio of 0.25.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings data on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.51. Suncor Energy had a net margin of 15.38% and a return on equity of 15.69%. The company had revenue of $12.90 billion during the quarter, compared to analyst estimates of $9.30 billion. The company’s revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the business posted $0.71 earnings per share. Research analysts expect that Suncor Energy will post 3.67 earnings per share for the current fiscal year.

Suncor Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th will be issued a dividend of $0.395 per share. This represents a $1.58 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date is Wednesday, September 4th. Suncor Energy’s dividend payout ratio is presently 35.41%.

Institutional Trading of Suncor Energy

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Personalized Indexing Management LLC lifted its position in Suncor Energy by 10.7% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 29,873 shares of the oil and gas producer’s stock valued at $957,000 after acquiring an additional 2,895 shares in the last quarter. Sanders Capital LLC raised its stake in shares of Suncor Energy by 2.8% in the 4th quarter. Sanders Capital LLC now owns 57,318,037 shares of the oil and gas producer’s stock valued at $1,836,470,000 after purchasing an additional 1,568,629 shares during the period. Sapient Capital LLC bought a new stake in shares of Suncor Energy in the fourth quarter valued at about $1,100,000. NewEdge Wealth LLC boosted its position in shares of Suncor Energy by 9.9% during the fourth quarter. NewEdge Wealth LLC now owns 587,664 shares of the oil and gas producer’s stock worth $18,829,000 after buying an additional 52,802 shares during the period. Finally, BNP Paribas Financial Markets grew its holdings in shares of Suncor Energy by 2,358.4% during the first quarter. BNP Paribas Financial Markets now owns 17,209 shares of the oil and gas producer’s stock worth $635,000 after buying an additional 16,509 shares in the last quarter. 67.37% of the stock is owned by institutional investors.

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.