Suncor Energy (SU) Upgraded by AltaCorp Capital to Outperform

AltaCorp Capital upgraded shares of Suncor Energy (NYSE:SU) (TSE:SU) from a sector perform rating to an outperform rating in a report issued on Wednesday.

SU has been the subject of several other research reports. Mizuho initiated coverage on Suncor Energy in a report on Monday, July 23rd. They issued a buy rating for the company. Zacks Investment Research lowered Suncor Energy from a buy rating to a hold rating in a report on Friday, July 20th. ValuEngine lowered Suncor Energy from a buy rating to a hold rating in a report on Tuesday, September 11th. JPMorgan Chase & Co. lowered Suncor Energy from an overweight rating to a neutral rating in a report on Tuesday, September 11th. Finally, CIBC initiated coverage on Suncor Energy in a report on Friday, October 5th. They issued a sector outperform rating for the company. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Suncor Energy presently has an average rating of Buy and an average target price of $49.43.

SU stock traded up $0.30 during trading on Wednesday, reaching $35.80. 244,904 shares of the company’s stock were exchanged, compared to its average volume of 3,915,779. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.56 and a current ratio of 0.90. Suncor Energy has a 1-year low of $31.33 and a 1-year high of $42.55. The firm has a market capitalization of $58.59 billion, a PE ratio of 23.75, a price-to-earnings-growth ratio of 1.41 and a beta of 0.85.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings results on Wednesday, July 25th. The oil and gas producer reported $0.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.16. Suncor Energy had a return on equity of 9.61% and a net margin of 12.25%. The company had revenue of $8.08 billion during the quarter, compared to analyst estimates of $6.53 billion. During the same quarter in the previous year, the firm posted $0.26 EPS. Equities research analysts predict that Suncor Energy will post 2.57 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 25th. Stockholders of record on Tuesday, September 4th were issued a $0.274 dividend. The ex-dividend date was Friday, August 31st. This represents a $1.10 annualized dividend and a dividend yield of 3.06%. Suncor Energy’s dividend payout ratio (DPR) is 72.85%.

Several institutional investors have recently made changes to their positions in SU. Seven Eight Capital LP acquired a new stake in shares of Suncor Energy during the third quarter worth $1,122,000. Aperio Group LLC raised its position in shares of Suncor Energy by 5.0% during the third quarter. Aperio Group LLC now owns 352,828 shares of the oil and gas producer’s stock worth $13,651,000 after purchasing an additional 16,890 shares during the period. Welch & Forbes LLC raised its position in shares of Suncor Energy by 0.7% during the third quarter. Welch & Forbes LLC now owns 366,512 shares of the oil and gas producer’s stock worth $14,180,000 after purchasing an additional 2,392 shares during the period. Guinness Asset Management Ltd raised its position in shares of Suncor Energy by 11.4% during the third quarter. Guinness Asset Management Ltd now owns 294,962 shares of the oil and gas producer’s stock worth $11,405,000 after purchasing an additional 30,200 shares during the period. Finally, First Hawaiian Bank acquired a new stake in shares of Suncor Energy during the third quarter worth $337,000. Institutional investors and hedge funds own 65.51% of the company’s stock.

Suncor Energy Company Profile

Suncor Energy Inc operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada's Athabasca oil sands; explores, acquires, develops, produces, and markets crude oil and natural gas in Canada and internationally; transports and refines crude oil; markets petroleum and petrochemical products primarily in Canada.

Further Reading: What is the Ex-Dividend Date in Investing?

Analyst Recommendations for Suncor Energy (NYSE:SU)

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