Suncor Energy’s (SU) “Outperform” Rating Reiterated at Royal Bank Of Canada

Royal Bank Of Canada restated their outperform rating on shares of Suncor Energy (NYSE:SU) (TSE:SU) in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has a $65.00 price objective on the oil and gas producer’s stock.

Suncor Energy Stock Performance

Shares of SU stock opened at $41.36 on Friday. The stock’s 50-day moving average price is $40.59 and its 200 day moving average price is $38.17. The company has a quick ratio of 0.77, a current ratio of 1.26 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $50.00 billion, a PE ratio of 12.72, a price-to-earnings-growth ratio of 3.35 and a beta of 0.78. Suncor Energy has a 52-week low of $30.79 and a 52-week high of $43.48.

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 for the quarter, beating the consensus estimate of $0.50 by $0.01. The company had revenue of $8.81 billion for the quarter, compared to the consensus estimate of $11.56 billion. Suncor Energy had a return on equity of 13.21% and a net margin of 11.35%.During the same period last year, the business posted $1.27 EPS. As a group, equities research analysts forecast that Suncor Energy will post 3.42 EPS for the current year.

Suncor Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th were given a dividend of $0.4135 per share. This represents a $1.65 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date was Thursday, September 4th. This is an increase from Suncor Energy’s previous quarterly dividend of $0.41. Suncor Energy’s payout ratio is currently 51.08%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Cardinal Capital Management Inc. raised its holdings in Suncor Energy by 0.5% during the third quarter. Cardinal Capital Management Inc. now owns 3,641,023 shares of the oil and gas producer’s stock worth $152,466,000 after purchasing an additional 18,686 shares in the last quarter. Neville Rodie & Shaw Inc. acquired a new position in Suncor Energy during the 3rd quarter worth approximately $220,000. Osaic Holdings Inc. raised its stake in shares of Suncor Energy by 155.2% during the 2nd quarter. Osaic Holdings Inc. now owns 95,051 shares of the oil and gas producer’s stock worth $3,631,000 after buying an additional 57,810 shares in the last quarter. Squarepoint Ops LLC lifted its holdings in shares of Suncor Energy by 452.2% in the 2nd quarter. Squarepoint Ops LLC now owns 124,216 shares of the oil and gas producer’s stock valued at $4,652,000 after buying an additional 101,721 shares during the period. Finally, FORA Capital LLC purchased a new stake in shares of Suncor Energy in the second quarter valued at approximately $950,000. 67.37% of the stock is currently owned by institutional investors and hedge funds.

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.