Suncor Energy (NYSE:SU) Price Target Raised to $48.00

by · The Markets Daily

Suncor Energy (NYSE:SU – Free Report) (TSE:SU) had its price target lifted by The Goldman Sachs Group from $46.00 to $48.00 in a report published on Friday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the oil and gas producer’s stock.

SU has been the subject of several other research reports. Wall Street Zen downgraded shares of Suncor Energy from a “buy” rating to a “hold” rating in a research note on Sunday, December 28th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $65.00 price target on shares of Suncor Energy in a report on Friday, October 3rd. Weiss Ratings restated a “buy (b)” rating on shares of Suncor Energy in a report on Monday, December 29th. Wells Fargo & Company assumed coverage on Suncor Energy in a research report on Friday, October 17th. They issued an “equal weight” rating on the stock. Finally, Raymond James Financial upgraded Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Thursday, November 6th. Three analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $56.50.

View Our Latest Stock Analysis on SU

Suncor Energy Trading Up 2.7%

SU stock opened at $45.55 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.35 and a debt-to-equity ratio of 0.19. Suncor Energy has a twelve month low of $30.79 and a twelve month high of $45.76. The stock has a market capitalization of $54.59 billion, a price-to-earnings ratio of 14.94 and a beta of 0.46. The firm’s fifty day simple moving average is $43.29 and its two-hundred day simple moving average is $41.11.

Suncor Energy (NYSE:SU – Get Free Report) (TSE:SU) last released its earnings results on Tuesday, November 4th. The oil and gas producer reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.22. Suncor Energy had a net margin of 10.61% and a return on equity of 13.01%. The firm had revenue of $9.04 billion during the quarter, compared to analyst estimates of $8.82 billion. During the same quarter last year, the business earned $1.48 EPS. As a group, analysts anticipate that Suncor Energy will post 3.42 earnings per share for the current year.

Suncor Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 24th. Stockholders of record on Wednesday, December 3rd were paid a dividend of $0.60 per share. This is an increase from Suncor Energy’s previous quarterly dividend of $0.41. This represents a $2.40 annualized dividend and a dividend yield of 5.3%. The ex-dividend date was Wednesday, December 3rd. Suncor Energy’s payout ratio is 56.39%.

Institutional Trading of Suncor Energy

A number of hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC increased its position in Suncor Energy by 12,290.9% during the 1st quarter. Acadian Asset Management LLC now owns 12,418,784 shares of the oil and gas producer’s stock valued at $480,760,000 after purchasing an additional 12,318,559 shares during the period. Artisan Partners Limited Partnership boosted its stake in shares of Suncor Energy by 38.5% during the second quarter. Artisan Partners Limited Partnership now owns 33,722,975 shares of the oil and gas producer’s stock valued at $1,264,043,000 after purchasing an additional 9,378,552 shares in the last quarter. Fisher Asset Management LLC increased its holdings in Suncor Energy by 85.5% during the third quarter. Fisher Asset Management LLC now owns 15,530,965 shares of the oil and gas producer’s stock valued at $649,350,000 after buying an additional 7,158,953 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in Suncor Energy by 62.2% in the third quarter. Arrowstreet Capital Limited Partnership now owns 13,335,239 shares of the oil and gas producer’s stock worth $557,682,000 after buying an additional 5,113,280 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in Suncor Energy by 29.5% in the second quarter. Canada Pension Plan Investment Board now owns 10,555,381 shares of the oil and gas producer’s stock worth $395,649,000 after buying an additional 2,406,000 shares in the last quarter. 67.37% of the stock is owned by hedge funds and other institutional investors.

Suncor Energy Company Profile

(Get Free Report)

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company’s operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.

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