Suncor Energy Inc. (SU) Rating Reiterated by TD Securities
Suncor Energy Inc. (NYSE:SU) (TSE:SU)‘s stock had its “buy” rating reiterated by analysts at TD Securities in a research note issued on Monday. They currently have a $46.00 price target on the stock, up from their previous price target of $45.00. TD Securities’ price objective would indicate a potential upside of 45.11% from the company’s current price.
A number of other equities research analysts also recently weighed in on the company. Bank of America Corp. initiated coverage on Suncor Energy in a research report on Friday, August 19th. They issued a “buy” rating and a $33.00 target price for the company. Scotiabank reiterated an “outperform” rating and set a $38.00 price objective on shares of Suncor Energy in a research report on Sunday, July 31st. Nomura reiterated a “buy” rating and set a $45.00 price objective on shares of Suncor Energy in a research report on Monday, November 7th. RBC Capital Markets reiterated an “outperform” rating and set a $42.00 price objective on shares of Suncor Energy in a research report on Sunday, October 2nd. Finally, Zacks Investment Research downgraded Suncor Energy from a “buy” rating to a “hold” rating in a research report on Monday, August 8th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $41.15.
Shares of Suncor Energy (NYSE:SU) opened at 31.70 on Monday. The company’s market capitalization is $52.78 billion. Suncor Energy has a 12-month low of $18.71 and a 12-month high of $32.19. The company’s 50-day moving average is $29.50 and its 200-day moving average is $27.80.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 23rd. Shareholders of record on Friday, December 2nd will be given a dividend of $0.216 per share. This represents a $0.86 annualized dividend and a yield of 2.73%. The ex-dividend date is Wednesday, November 30th. Suncor Energy’s payout ratio is -81.65%.
Institutional investors have recently bought and sold shares of the company. Manitou Investment Management Ltd. increased its position in Suncor Energy by 31.7% in the second quarter. Manitou Investment Management Ltd. now owns 739,573 shares of the company’s stock valued at $20,375,000 after buying an additional 178,056 shares during the last quarter. Dividend Assets Capital LLC increased its position in Suncor Energy by 0.9% in the second quarter. Dividend Assets Capital LLC now owns 2,040,069 shares of the company’s stock valued at $56,571,000 after buying an additional 18,645 shares during the last quarter. Bank of New York Mellon Corp increased its position in Suncor Energy by 12.1% in the second quarter. Bank of New York Mellon Corp now owns 46,214,835 shares of the company’s stock valued at $1,281,537,000 after buying an additional 4,998,480 shares during the last quarter. Capital Fund Management S.A. increased its stake in shares of Suncor Energy by 271.4% in the second quarter. Capital Fund Management S.A. now owns 490,499 shares of the company’s stock valued at $13,602,000 after buying an additional 358,435 shares in the last quarter. Finally, Emerald Acquisition Ltd. acquired a new stake in shares of Suncor Energy during the second quarter valued at about $148,272,000. 64.30% of the stock is currently owned by hedge funds and other institutional investors.
Suncor Energy Company Profile
Suncor Energy Inc (Suncor) is an integrated energy company. The Company is focused on developing Canada’s petroleum resource basin, Athabasca oil sands. The Company operates in three business segments: Oil Sands, Exploration and Production (E&P), and Refining and Marketing. The Company’s Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations.
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