Suncor Energy (NYSE:SU) Lifted to “Outperform” at Royal Bank of Canada

Royal Bank of Canada upgraded shares of Suncor Energy (NYSE:SUGet Rating) (TSE:SU) from a sector perform rating to an outperform rating in a report released on Tuesday, The Fly reports.

A number of other research firms have also recently commented on SU. BMO Capital Markets upped their price objective on Suncor Energy from C$54.00 to C$60.00 in a report on Thursday, June 9th. Credit Suisse Group boosted their target price on Suncor Energy from C$58.00 to C$63.00 and gave the company an outperform rating in a research report on Thursday, June 9th. Wells Fargo & Company boosted their target price on Suncor Energy from $42.00 to $51.00 and gave the company an overweight rating in a research report on Friday, March 11th. CIBC boosted their target price on Suncor Energy from C$50.00 to C$60.00 in a research report on Thursday, April 14th. Finally, Raymond James boosted their target price on Suncor Energy from C$50.00 to C$52.00 in a research report on Tuesday, May 10th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Suncor Energy has a consensus rating of Moderate Buy and a consensus target price of $51.14.

SU opened at $32.91 on Tuesday. Suncor Energy has a one year low of $17.10 and a one year high of $42.72. The stock has a market capitalization of $46.56 billion, a PE ratio of 9.62, a P/E/G ratio of 1.19 and a beta of 1.34. The business’s 50 day moving average price is $37.20 and its 200 day moving average price is $31.80. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.75 and a current ratio of 1.18.

Suncor Energy (NYSE:SUGet Rating) (TSE:SU) last released its quarterly earnings data on Monday, May 9th. The oil and gas producer reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.21. Suncor Energy had a return on equity of 15.69% and a net margin of 14.18%. The firm had revenue of $10.65 billion for the quarter, compared to analysts’ expectations of $9.18 billion. As a group, equities research analysts forecast that Suncor Energy will post 5.94 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 24th. Stockholders of record on Friday, June 3rd will be given a dividend of $0.3623 per share. The ex-dividend date is Thursday, June 2nd. This represents a $1.45 dividend on an annualized basis and a dividend yield of 4.40%. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.33. Suncor Energy’s dividend payout ratio is currently 43.57%.

Institutional investors have recently bought and sold shares of the company. Vise Technologies Inc. acquired a new position in shares of Suncor Energy during the first quarter worth $296,000. Verition Fund Management LLC grew its stake in shares of Suncor Energy by 149.0% during the first quarter. Verition Fund Management LLC now owns 203,110 shares of the oil and gas producer’s stock worth $6,619,000 after purchasing an additional 121,538 shares in the last quarter. Taconic Capital Advisors LP acquired a new position in shares of Suncor Energy during the first quarter worth $1,467,000. Neuberger Berman Group LLC grew its stake in shares of Suncor Energy by 2.9% during the first quarter. Neuberger Berman Group LLC now owns 414,851 shares of the oil and gas producer’s stock worth $13,692,000 after purchasing an additional 11,612 shares in the last quarter. Finally, Capital International Sarl acquired a new position in shares of Suncor Energy during the first quarter worth $2,025,000. 58.48% of the stock is currently owned by institutional investors and hedge funds.

About Suncor Energy (Get Rating)

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, transports, refines, and markets crude oil in Canada and internationally; markets petroleum and petrochemical products under the Petro-Canada name primarily in Canada.

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