Suncor Energy (NYSE:SU) Upgraded at Desjardins

Desjardins upgraded shares of Suncor Energy (NYSE:SU) (TSE:SU) to a moderate buy rating in a research report sent to investors on Thursday,Zacks.com reports.

Other equities research analysts also recently issued reports about the company. Wall Street Zen upgraded Suncor Energy from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 12th. Royal Bank Of Canada increased their price target on Suncor Energy from $75.00 to $89.00 and gave the stock an “outperform” rating in a report on Wednesday, April 1st. Zacks Research raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 6th. The Goldman Sachs Group lowered shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price objective for the company. in a research note on Friday, June 5th. Finally, Scotiabank upgraded shares of Suncor Energy to a “strong-buy” rating in a research report on Friday, June 26th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Suncor Energy currently has an average rating of “Buy” and an average target price of $71.67.

Suncor Energy Stock Performance

Shares of SU opened at $62.45 on Thursday. The company has a current ratio of 1.42, a quick ratio of 0.92 and a debt-to-equity ratio of 0.20. The firm’s fifty day simple moving average is $61.11 and its two-hundred day simple moving average is $58.68. Suncor Energy has a 12 month low of $37.76 and a 12 month high of $70.29. The stock has a market capitalization of $73.73 billion, a P/E ratio of 16.39 and a beta of 0.30.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share for the quarter, missing the consensus estimate of $1.45 by ($0.04). The business had revenue of $10.41 billion during the quarter, compared to the consensus estimate of $9.22 billion. Suncor Energy had a return on equity of 13.96% and a net margin of 12.29%.During the same period last year, the business posted $1.31 earnings per share. As a group, analysts predict that Suncor Energy will post 6.9 EPS for the current year.

Suncor Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Thursday, June 4th. Suncor Energy’s dividend payout ratio (DPR) is 45.67%.

Hedge Funds Weigh In On Suncor Energy

A number of institutional investors have recently modified their holdings of SU. AQR Capital Management LLC grew its position in Suncor Energy by 14.2% in the 1st quarter. AQR Capital Management LLC now owns 25,015 shares of the oil and gas producer’s stock valued at $959,000 after purchasing an additional 3,115 shares during the period. Geneos Wealth Management Inc. lifted its stake in shares of Suncor Energy by 172.5% in the first quarter. Geneos Wealth Management Inc. now owns 1,981 shares of the oil and gas producer’s stock valued at $77,000 after buying an additional 1,254 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Suncor Energy by 21.1% in the second quarter. EverSource Wealth Advisors LLC now owns 2,667 shares of the oil and gas producer’s stock valued at $100,000 after buying an additional 464 shares in the last quarter. AXA S.A. grew its holdings in shares of Suncor Energy by 17.2% during the second quarter. AXA S.A. now owns 50,278 shares of the oil and gas producer’s stock valued at $1,883,000 after buying an additional 7,395 shares during the last quarter. Finally, NewEdge Advisors LLC grew its holdings in shares of Suncor Energy by 6.4% during the second quarter. NewEdge Advisors LLC now owns 67,142 shares of the oil and gas producer’s stock valued at $2,514,000 after buying an additional 4,043 shares during the last quarter. 67.37% of the stock is owned by institutional investors and hedge funds.

Suncor Energy Company Profile

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.