Suncor Energy Inc. (SU) Given “Overweight” Rating at Barclays PLC
Barclays PLC reiterated their overweight rating on shares of Suncor Energy Inc. (NYSE:SU) in a research report sent to investors on Monday morning. The brokerage currently has a $50.00 price target on the stock, up from their prior price target of $48.00.
A number of other equities research analysts have also recently issued reports on SU. Zacks Investment Research upgraded shares of Suncor Energy from a hold rating to a buy rating and set a $32.00 price target for the company in a report on Wednesday, July 13th. Royal Bank Of Canada reiterated an outperform rating and issued a $51.00 target price on shares of Suncor Energy in a research note on Saturday, June 25th. Citigroup Inc. upgraded shares of Suncor Energy from a neutral rating to a buy rating and increased their target price for the company from $40.00 to $44.00 in a research note on Thursday, June 23rd. Scotiabank reiterated an outperform rating and issued a $37.00 target price on shares of Suncor Energy in a research note on Saturday, June 25th. Finally, Vetr upgraded shares of Suncor Energy from a hold rating to a strong-buy rating and set a $39.62 target price for the company in a research note on Thursday, June 23rd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Suncor Energy presently has a consensus rating of Buy and a consensus price target of $39.16.
Suncor Energy (NYSE:SU) opened at 28.47 on Monday. The stock’s 50 day moving average price is $27.19 and its 200 day moving average price is $27.41. The company’s market capitalization is $47.39 billion. Suncor Energy has a 12-month low of $18.71 and a 12-month high of $30.70.
Suncor Energy (NYSE:SU) last posted its earnings results on Wednesday, July 27th. The company reported ($0.36) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by $0.15. Suncor Energy had a negative return on equity of 1.59% and a negative net margin of 11.29%. During the same quarter last year, the company earned $0.63 EPS. On average, equities research analysts anticipate that Suncor Energy will post ($0.35) earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 26th. Investors of record on Tuesday, September 6th were issued a $0.2194 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date of this dividend was Thursday, September 1st. Suncor Energy’s dividend payout ratio is currently -60.54%.
Several hedge funds have recently modified their holdings of SU. BlackRock Japan Co. Ltd bought a new stake in shares of Suncor Energy during the second quarter worth $108,000. MSI Financial Services Inc raised its stake in shares of Suncor Energy by 3.2% in the third quarter. MSI Financial Services Inc now owns 4,504 shares of the company’s stock worth $125,000 after buying an additional 139 shares in the last quarter. Glenmede Trust Co. NA raised its stake in shares of Suncor Energy by 9.8% in the second quarter. Glenmede Trust Co. NA now owns 4,898 shares of the company’s stock worth $135,000 after buying an additional 437 shares in the last quarter. Ropes Wealth Advisors LLC raised its stake in shares of Suncor Energy by 15.6% in the first quarter. Ropes Wealth Advisors LLC now owns 6,088 shares of the company’s stock worth $169,000 after buying an additional 820 shares in the last quarter. Finally, IFP Advisors Inc raised its stake in shares of Suncor Energy by 29.2% in the first quarter. IFP Advisors Inc now owns 6,470 shares of the company’s stock worth $180,000 after buying an additional 1,462 shares in the last quarter. 64.08% of the stock is owned by institutional investors and hedge funds.
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.
Receive News & Ratings for Suncor Energy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Suncor Energy Inc. and related companies with MarketBeat.com's FREE daily email newsletter.