Suncor Energy (TSE:SU) Downgraded by Desjardins to “Hold”

Desjardins lowered shares of Suncor Energy (TSE:SU) (NYSE:SU) from a buy rating to a hold rating in a research note issued to investors on Monday, BayStreet.CA reports. They currently have C$49.00 price objective on the stock, up from their prior price objective of C$48.00.

A number of other analysts have also commented on the company. CIBC dropped their price target on Suncor Energy from C$62.00 to C$61.00 in a research note on Tuesday, May 30th. BMO Capital Markets cut shares of Suncor Energy from an outperform rating to a market perform rating and reduced their price target for the company from C$52.00 to C$44.00 in a research report on Thursday, July 13th. Wells Fargo & Company upgraded shares of Suncor Energy from an equal weight rating to an overweight rating and raised their price objective for the stock from C$44.00 to C$54.00 in a report on Wednesday, August 23rd. Royal Bank of Canada reduced their target price on Suncor Energy from C$51.00 to C$49.00 in a report on Wednesday, July 12th. Finally, UBS Group set a C$48.00 target price on Suncor Energy and gave the company a buy rating in a research note on Wednesday, July 12th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Suncor Energy currently has an average rating of Hold and a consensus target price of C$52.00.

Suncor Energy Stock Down 0.8 %

SU opened at C$47.06 on Monday. The business’s fifty day simple moving average is C$42.75 and its 200 day simple moving average is C$41.48. Suncor Energy has a 52 week low of C$36.38 and a 52 week high of C$50.37. The company has a quick ratio of 0.83, a current ratio of 1.18 and a debt-to-equity ratio of 41.66. The stock has a market cap of C$61.18 billion, a PE ratio of 10.16, a P/E/G ratio of 0.15 and a beta of 1.64.

Suncor Energy (TSE:SU) (NYSE:SU) last announced its quarterly earnings data on Monday, August 14th. The company reported C$0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.78 by C$0.18. The company had revenue of C$11.72 billion during the quarter, compared to analysts’ expectations of C$10.49 billion. Suncor Energy had a net margin of 11.55% and a return on equity of 15.05%. As a group, research analysts expect that Suncor Energy will post 6 earnings per share for the current fiscal year.

Suncor Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 25th. Investors of record on Monday, September 25th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $2.08 dividend on an annualized basis and a yield of 4.42%. Suncor Energy’s dividend payout ratio is presently 44.92%.

Suncor Energy Company Profile

Suncor Energy Inc operates as an integrated energy company in Canada 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. This segment also engages in syncrude oil sands mining and upgrading operations; and marketing, supply, transportation, and risk management of crude oil, natural gas, power, and byproducts.