Suncor Energy (NYSE:SU) PT Raised to $52.00

Suncor Energy (NYSE:SU) (TSE:SU) had its target price boosted by stock analysts at Morgan Stanley from $50.00 to $52.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the oil and gas producer’s stock. Morgan Stanley’s price target would indicate a potential upside of 41.00% from the company’s current price.

Suncor Energy Stock Up 1.1 %

NYSE:SU traded up $0.40 on Thursday, reaching $36.88. 1,608,789 shares of the stock traded hands, compared to its average volume of 4,304,711. The company has a market capitalization of $47.50 billion, a price-to-earnings ratio of 7.84, a PEG ratio of 3.39 and a beta of 1.12. The company has a current ratio of 1.44, a quick ratio of 0.88 and a debt-to-equity ratio of 0.26. Suncor Energy has a 12 month low of $27.59 and a 12 month high of $36.97. The company’s fifty day simple moving average is $33.66 and its 200 day simple moving average is $33.22.

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

Hedge Funds Weigh In On Suncor Energy

Several large investors have recently added to or reduced their stakes in the company. Pinnacle Associates Ltd. lifted its holdings in Suncor Energy by 0.6% during the third quarter. Pinnacle Associates Ltd. now owns 47,669 shares of the oil and gas producer’s stock valued at $1,639,000 after purchasing an additional 300 shares in the last quarter. Hexagon Capital Partners LLC lifted its holdings in shares of Suncor Energy by 19.0% in the third quarter. Hexagon Capital Partners LLC now owns 1,931 shares of the oil and gas producer’s stock worth $66,000 after buying an additional 308 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its position in Suncor Energy by 43.2% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,038 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 313 shares during the last quarter. Venture Visionary Partners LLC increased its position in Suncor Energy by 4.6% in the fourth quarter. Venture Visionary Partners LLC now owns 7,231 shares of the oil and gas producer’s stock worth $232,000 after purchasing an additional 316 shares during the last quarter. Finally, Private Trust Co. NA increased its position in Suncor Energy by 38.4% in the third quarter. Private Trust Co. NA now owns 1,222 shares of the oil and gas producer’s stock worth $42,000 after purchasing an additional 339 shares during the last quarter. Hedge funds and other institutional investors 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.