Suncor Energy’s (SU) Outperform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Suncor Energy (NYSE:SU) (TSE:SU) in a report published on Tuesday morning,Benzinga reports. They currently have a $66.00 target price on the oil and gas producer’s stock.

A number of other brokerages also recently weighed in on SU. StockNews.com downgraded shares of Suncor Energy from a “buy” rating to a “hold” rating in a research report on Thursday, December 26th. Desjardins raised Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Finally, Morgan Stanley lowered Suncor Energy from an “overweight” rating to an “equal weight” rating in a report on Monday, December 16th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $58.00.

Suncor Energy Price Performance

NYSE SU opened at $38.29 on Tuesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.04 and a current ratio of 1.59. The company has a market capitalization of $47.94 billion, a price-to-earnings ratio of 8.34, a PEG ratio of 2.43 and a beta of 1.12. The stock has a 50-day moving average of $37.98 and a 200 day moving average of $38.45. Suncor Energy has a one year low of $31.03 and a one year high of $41.94.

Suncor Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 3rd were paid a $0.4089 dividend. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $1.64 annualized dividend and a dividend yield of 4.27%. This is an increase from Suncor Energy’s previous quarterly dividend of $0.40. Suncor Energy’s dividend payout ratio (DPR) is 36.60%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company raised its holdings in Suncor Energy by 5.1% during the second quarter. The Manufacturers Life Insurance Company now owns 25,134,149 shares of the oil and gas producer’s stock valued at $956,850,000 after acquiring an additional 1,209,073 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Suncor Energy by 1.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 23,048,048 shares of the oil and gas producer’s stock valued at $878,131,000 after purchasing an additional 366,432 shares during the period. Toronto Dominion Bank lifted its holdings in Suncor Energy by 1.8% in the 3rd quarter. Toronto Dominion Bank now owns 18,546,207 shares of the oil and gas producer’s stock worth $684,726,000 after purchasing an additional 333,440 shares in the last quarter. CIBC Asset Management Inc boosted its stake in Suncor Energy by 1.3% in the 3rd quarter. CIBC Asset Management Inc now owns 13,942,455 shares of the oil and gas producer’s stock worth $516,728,000 after purchasing an additional 180,533 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in Suncor Energy by 23.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,695,560 shares of the oil and gas producer’s stock valued at $357,827,000 after buying an additional 1,829,936 shares in the last quarter. 67.37% of the stock is currently owned by institutional investors.

Suncor Energy Company Profile

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.