Suncor Energy (NYSE:SU) Now Covered by Wells Fargo & Company

Wells Fargo & Company started coverage on shares of Suncor Energy (NYSE:SU) (TSE:SU) in a research report released on Friday, MarketBeat reports. The brokerage issued an equal weight rating on the oil and gas producer’s stock.

SU has been the subject of a number of other research reports. Zacks Research cut shares of Suncor Energy from a “hold” rating to a “strong sell” rating in a research report on Wednesday. Royal Bank Of Canada reiterated an “outperform” rating and set a $65.00 target price on shares of Suncor Energy in a research report on Friday, October 3rd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Suncor Energy in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $65.00.

Suncor Energy Price Performance

NYSE:SU opened at $38.54 on Friday. The company has a 50-day moving average of $40.70 and a 200-day moving average of $38.27. The company has a market capitalization of $46.60 billion, a price-to-earnings ratio of 11.86, a PEG ratio of 3.05 and a beta of 0.78. Suncor Energy has a 52 week low of $30.79 and a 52 week high of $43.48. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.77 and a current ratio of 1.26.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results on Tuesday, August 5th. The oil and gas producer reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.01. The business had revenue of $8.81 billion during the quarter, compared to analysts’ expectations of $11.56 billion. Suncor Energy had a net margin of 11.35% and a return on equity of 13.21%. During the same quarter last year, the company posted $1.27 EPS. As a group, equities research analysts anticipate that Suncor Energy will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th were given a $0.4135 dividend. This represents a $1.65 annualized dividend and a yield of 4.3%. The ex-dividend date was Thursday, September 4th. This is a boost from Suncor Energy’s previous quarterly dividend of $0.41. Suncor Energy’s dividend payout ratio is 51.08%.

Institutional Investors Weigh In On Suncor Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Headlands Technologies LLC acquired a new stake in Suncor Energy in the 2nd quarter valued at about $31,000. Maseco LLP acquired a new stake in shares of Suncor Energy during the 2nd quarter worth approximately $32,000. Hanson & Doremus Investment Management grew its position in shares of Suncor Energy by 143.5% during the 3rd quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer’s stock worth $33,000 after buying an additional 465 shares during the period. N.E.W. Advisory Services LLC acquired a new stake in shares of Suncor Energy during the 1st quarter worth approximately $36,000. Finally, Atlantic Union Bankshares Corp acquired a new stake in shares of Suncor Energy during the 2nd quarter worth approximately $37,000. 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.