Suncor Energy (TSE:SU) Downgraded by Gerdes Energy Research to Neutral

Gerdes Energy Research lowered shares of Suncor Energy (TSE:SU) (NYSE:SU) from a buy rating to a neutral rating in a research report report published on Wednesday morning,BayStreet.CA reports. Gerdes Energy Research currently has C$97.00 price target on the stock, up from their previous price target of C$96.00.

Several other analysts have also recently commented on the stock. National Bank Financial upped their target price on shares of Suncor Energy from C$85.00 to C$118.00 and gave the company an “outperform” rating in a research report on Tuesday, March 31st. TD Securities raised their price target on Suncor Energy from C$81.00 to C$91.00 and gave the stock a “buy” rating in a research report on Wednesday, April 1st. ATB Cormark Capital Markets raised Suncor Energy from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, April 1st. Wells Fargo & Company upped their price objective on Suncor Energy from C$74.00 to C$97.00 in a report on Wednesday, April 1st. Finally, Canadian Imperial Bank of Commerce increased their target price on Suncor Energy from C$88.00 to C$92.00 in a research note on Thursday, April 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Suncor Energy has an average rating of “Moderate Buy” and an average price target of C$95.88.

Suncor Energy Trading Up 1.5%

SU opened at C$91.22 on Wednesday. The company has a debt-to-equity ratio of 32.36, a current ratio of 1.42 and a quick ratio of 0.83. The company has a market cap of C$107.71 billion, a price-to-earnings ratio of 17.34, a price-to-earnings-growth ratio of 0.15 and a beta of 0.17. The firm has a 50 day simple moving average of C$85.26 and a 200 day simple moving average of C$81.78. Suncor Energy has a fifty-two week low of C$52.95 and a fifty-two week high of C$96.53.

Suncor Energy (TSE:SU) (NYSE:SU) last announced its quarterly earnings data on Tuesday, May 5th. The company reported C$1.93 earnings per share for the quarter. Suncor Energy had a net margin of 12.17% and a return on equity of 14.01%. The business had revenue of C$14.48 billion for the quarter. On average, sell-side analysts anticipate that Suncor Energy will post 4.4208333 earnings per share for the current year.

Suncor Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 25th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Thursday, June 4th. Suncor Energy’s dividend payout ratio (DPR) is currently 44.49%.

About Suncor Energy

Suncor Energy Inc is an integrated energy company. The company’s operations include oil sands development, production and upgrading, offshore oil and gas, petroleum refining in Canada and the U.S. and the company’s PetroCanada retail and wholesale distribution networks. The company is developing petroleum resources while advancing the transition to a low-emissions future through investment in power, renewable fuels and hydrogen. It also conducts energy trading activities focused principally on the marketing and trading of crude oil, natural gas, byproducts, refined products and power.