Suncor Energy (NYSE:SU) Price Target Raised to $45.00

Suncor Energy (NYSE:SU) (TSE:SU) had its price objective hoisted by The Goldman Sachs Group from $38.00 to $45.00 in a research report released on Thursday morning, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the oil and gas producer’s stock.

Several other analysts have also recently commented on the stock. Morgan Stanley raised their price target on shares of Suncor Energy from $50.00 to $52.00 and gave the stock an overweight rating in a report on Thursday, March 28th. TD Securities raised their price objective on shares of Suncor Energy from $52.00 to $57.00 and gave the company a hold rating in a research report on Wednesday, May 22nd. Finally, StockNews.com raised shares of Suncor Energy from a hold rating to a buy rating in a research report on Thursday, May 16th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Suncor Energy currently has a consensus rating of Moderate Buy and an average price target of $51.67.

Suncor Energy Stock Up 0.4 %

SU stock opened at $40.30 on Thursday. The stock has a market cap of $51.82 billion, a PE ratio of 8.98, a price-to-earnings-growth ratio of 3.71 and a beta of 1.11. The company has a quick ratio of 0.97, a current ratio of 1.51 and a debt-to-equity ratio of 0.25. The firm’s 50-day simple moving average is $38.46 and its 200 day simple moving average is $34.76. Suncor Energy has a fifty-two week low of $27.59 and a fifty-two week high of $41.50.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Tuesday, May 7th. The oil and gas producer reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.15. Suncor Energy had a net margin of 15.38% and a return on equity of 15.69%. The company had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $8.64 billion. As a group, sell-side analysts predict that Suncor Energy will post 3.62 EPS for the current year.

Suncor Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Tuesday, June 4th will be issued a dividend of $0.395 per share. The ex-dividend date is Tuesday, June 4th. This represents a $1.58 annualized dividend and a yield of 3.92%. Suncor Energy’s dividend payout ratio is currently 35.86%.

Hedge Funds Weigh In On Suncor Energy

Institutional investors and hedge funds have recently modified their holdings of the business. Johnson Financial Group Inc. acquired a new position in shares of Suncor Energy in the 4th quarter valued at approximately $25,000. Richardson Financial Services Inc. acquired a new position in Suncor Energy during the 4th quarter worth approximately $25,000. Optiver Holding B.V. acquired a new position in Suncor Energy during the 3rd quarter worth approximately $29,000. Adirondack Trust Co. boosted its position in Suncor Energy by 45.6% during the 4th quarter. Adirondack Trust Co. now owns 1,000 shares of the oil and gas producer’s stock worth $34,000 after acquiring an additional 313 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its position in Suncor Energy by 43.2% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,038 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 313 shares during the last quarter. 67.37% of the stock is currently owned by institutional investors and hedge funds.

About Suncor Energy

Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.