TD Securities Lowers Suncor Energy (NYSE:SU) Price Target to $31.00

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

A number of other brokerages have also recently issued reports on SU. UBS Group lifted their price objective on Suncor Energy from $24.50 to $42.00 and gave the company a buy rating in a report on Monday, June 29th. Scotiabank raised Suncor Energy from a sector perform rating to a sector outperform rating in a report on Thursday, June 11th. Wells Fargo & Company reissued a buy rating on shares of Suncor Energy in a report on Tuesday, September 15th. ValuEngine cut Suncor Energy from a buy rating to a hold rating in a report on Monday, August 3rd. Finally, Royal Bank of Canada cut their price objective on Suncor Energy from $28.00 to $25.00 and set an outperform rating for the company in a report on Wednesday, September 9th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Suncor Energy has an average rating of Buy and a consensus target price of $33.30.

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

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

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be issued a $0.1565 dividend. This represents a $0.63 dividend on an annualized basis 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 of this dividend is Thursday, September 3rd. Suncor Energy’s payout ratio is currently 30.19%.

A number of large investors have recently made changes to their positions in SU. Public Investment Fund bought a new stake in Suncor Energy during the 1st quarter worth about $481,072,000. FIL Ltd raised its holdings in Suncor Energy by 17.7% during the 2nd quarter. FIL Ltd now owns 85,847,964 shares of the oil and gas producer’s stock worth $1,447,452,000 after purchasing an additional 12,911,358 shares during the last quarter. Luminus Management LLC bought a new stake in Suncor Energy during the 2nd quarter worth about $80,085,000. Massachusetts Financial Services Co. MA raised its holdings in Suncor Energy by 10.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 40,611,177 shares of the oil and gas producer’s stock worth $641,656,000 after purchasing an additional 3,701,728 shares during the last quarter. Finally, FMR LLC grew its position in shares of Suncor Energy by 21.0% during the 2nd quarter. FMR LLC now owns 18,694,905 shares of the oil and gas producer’s stock worth $315,208,000 after buying an additional 3,241,082 shares during the period. 65.09% of the stock is owned by hedge funds and other institutional investors.

Suncor Energy Company Profile

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.

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