Suncor Energy (NYSE:SU) PT Lowered to $31.00 at TD Securities

Suncor Energy (NYSE:SU) (TSE:SU) had its price objective lowered by TD Securities from $32.00 to $31.00 in a research report released on Friday morning, The Fly reports. TD Securities currently has a buy rating on the oil and gas producer’s stock.

SU has been the subject of a number of other research reports. Credit Suisse Group reiterated a buy rating on shares of Suncor Energy in a research report on Thursday, July 30th. Scotiabank upgraded shares of Suncor Energy from a sector perform rating to a sector outperform rating in a research report on Thursday, June 11th. Wells Fargo & Company reiterated a buy rating on shares of Suncor Energy in a research report on Tuesday, September 15th. Barclays assumed coverage on shares of Suncor Energy in a research report on Wednesday, September 2nd. They issued an overweight rating and a $29.00 target price for the company. Finally, UBS Group raised their price objective on shares of Suncor Energy from $24.50 to $42.00 and gave the company a buy rating in a research report on Monday, June 29th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $33.30.

SU stock opened at $13.34 on Friday. The company has a quick ratio of 0.63, a current ratio of 1.02 and a debt-to-equity ratio of 0.51. Suncor Energy has a fifty-two week low of $9.60 and a fifty-two week high of $34.56. The firm’s 50-day simple moving average is $15.80 and its 200 day simple moving average is $16.77. The stock has a market cap of $20.35 billion, a PE ratio of -5.03 and a beta of 1.40.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings data on Wednesday, July 22nd. The oil and gas producer reported ($0.98) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.44) by ($0.54). Suncor Energy had a positive return on equity of 0.44% and a negative net margin of 17.17%. The firm had revenue of $3.06 billion during the quarter, compared to analyst estimates of $4.07 billion. Equities analysts forecast that Suncor Energy will post -1.08 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be issued a $0.1565 dividend. This represents a $0.63 annualized dividend and a dividend yield of 4.69%. This is a boost from Suncor Energy’s previous quarterly dividend of $0.15. The ex-dividend date is Thursday, September 3rd. Suncor Energy’s dividend payout ratio (DPR) is presently 30.19%.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Ensign Peak Advisors Inc boosted its holdings in shares of Suncor Energy by 0.9% in the second quarter. Ensign Peak Advisors Inc now owns 70,853 shares of the oil and gas producer’s stock worth $1,249,000 after buying an additional 645 shares during the period. Valeo Financial Advisors LLC lifted its position in shares of Suncor Energy by 28.6% in the second quarter. Valeo Financial Advisors LLC now owns 3,077 shares of the oil and gas producer’s stock worth $52,000 after purchasing an additional 685 shares in the last quarter. Private Capital Group LLC lifted its position in shares of Suncor Energy by 33.4% in the second quarter. Private Capital Group LLC now owns 2,820 shares of the oil and gas producer’s stock worth $48,000 after purchasing an additional 706 shares in the last quarter. Asset Dedication LLC lifted its position in shares of Suncor Energy by 24.7% in the second quarter. Asset Dedication LLC now owns 3,733 shares of the oil and gas producer’s stock worth $63,000 after purchasing an additional 740 shares in the last quarter. Finally, Fairbanks Capital Management Inc. lifted its position in shares of Suncor Energy by 0.8% in the second quarter. Fairbanks Capital Management Inc. now owns 101,520 shares of the oil and gas producer’s stock worth $1,724,000 after purchasing an additional 848 shares in the last quarter. Institutional investors own 65.09% of the company’s stock.

About Suncor Energy

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: Front-End Load

The Fly

Analyst Recommendations for Suncor Energy (NYSE:SU)

Receive News & Ratings for Suncor Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Suncor Energy and related companies with MarketBeat.com's FREE daily email newsletter.