TD Securities Boosts Suncor Energy (NYSE:SU) Price Target to $57.00

Suncor Energy (NYSE:SU) (TSE:SU) had its price target lifted by TD Securities from $52.00 to $57.00 in a report published on Wednesday morning, Benzinga reports. TD Securities currently has a hold rating on the oil and gas producer’s stock.

SU has been the topic of a number of other reports. Morgan Stanley upped their price objective on Suncor Energy from $50.00 to $52.00 and gave the stock an overweight rating in a research report on Thursday, March 28th. StockNews.com raised Suncor Energy from a hold rating to a buy rating in a research report on Thursday, May 16th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $51.67.

Suncor Energy Stock Up 0.4 %

NYSE:SU opened at $40.30 on Wednesday. Suncor Energy has a 1 year low of $27.59 and a 1 year high of $41.50. The stock has a 50-day moving average price of $38.46 and a two-hundred day moving average price of $34.74. The stock has a market cap of $51.82 billion, a price-to-earnings ratio of 8.98, a PEG ratio of 3.71 and a beta of 1.11. The company has a current ratio of 1.51, a quick ratio of 0.97 and a debt-to-equity ratio of 0.25.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings data on Wednesday, February 21st. The oil and gas producer reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.13. Suncor Energy had a return on equity of 15.69% and a net margin of 15.38%. The business 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 firm earned $1.33 EPS. As a group, equities analysts expect that Suncor Energy will post 3.62 earnings per share for the current year.

Suncor Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Tuesday, June 4th will be paid a $0.395 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $1.58 dividend on an annualized basis and a yield of 3.92%. Suncor Energy’s dividend payout ratio is 35.86%.

Institutional Investors Weigh In On Suncor Energy

Institutional investors and hedge funds have recently made changes to their positions in the stock. Sanders Capital LLC lifted its stake in Suncor Energy by 2.8% in the 4th quarter. Sanders Capital LLC now owns 57,318,037 shares of the oil and gas producer’s stock valued at $1,836,470,000 after purchasing an additional 1,568,629 shares during the last quarter. Vanguard Group Inc. raised its stake in Suncor Energy by 1.4% in the first quarter. Vanguard Group Inc. now owns 51,226,454 shares of the oil and gas producer’s stock valued at $1,890,768,000 after buying an additional 691,497 shares during the period. TD Asset Management Inc lifted its position in shares of Suncor Energy by 16.8% in the fourth quarter. TD Asset Management Inc now owns 32,070,496 shares of the oil and gas producer’s stock valued at $1,032,453,000 after buying an additional 4,612,764 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Suncor Energy by 8.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 22,384,816 shares of the oil and gas producer’s stock valued at $717,210,000 after buying an additional 1,725,969 shares during the last quarter. Finally, 1832 Asset Management L.P. boosted its stake in shares of Suncor Energy by 4.1% during the 1st quarter. 1832 Asset Management L.P. now owns 22,157,546 shares of the oil and gas producer’s stock worth $817,835,000 after acquiring an additional 868,475 shares during the period. 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.