Suncor Energy Inc. (SU) Cut to Hold at TD Securities

TD Securities cut shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) from a buy rating to a hold rating in a research report released on Thursday morning. TD Securities currently has $50.00 target price on the oil and gas producer’s stock.

SU has been the subject of several other research reports. Zacks Investment Research upgraded shares of Suncor Energy from a strong sell rating to a hold rating in a research report on Tuesday, September 12th. Citigroup Inc. reiterated a buy rating on shares of Suncor Energy in a research report on Wednesday, August 2nd. Wolfe Research upgraded shares of Suncor Energy from a market perform rating to an outperform rating in a research report on Monday, October 16th. BidaskClub upgraded shares of Suncor Energy from a sell rating to a hold rating in a research report on Wednesday, August 2nd. Finally, Canaccord Genuity reiterated a buy rating and set a $51.00 price target on shares of Suncor Energy in a research report on Monday, October 16th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $44.19.

Shares of Suncor Energy (NYSE:SU) opened at $35.40 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.91 and a quick ratio of 0.62. The firm has a market cap of $58,581.98, a PE ratio of 30.52, a price-to-earnings-growth ratio of 3.24 and a beta of 0.85. Suncor Energy has a 1 year low of $27.96 and a 1 year high of $36.71.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings results on Wednesday, October 25th. The oil and gas producer reported $0.41 EPS for the quarter, topping the consensus estimate of $0.26 by $0.15. Suncor Energy had a net margin of 11.63% and a return on equity of 5.68%. The company had revenue of $6.40 billion during the quarter, compared to analysts’ expectations of $6.80 billion. equities research analysts forecast that Suncor Energy will post 1.29 earnings per share for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 22nd. Investors of record on Friday, December 1st will be paid a dividend of $0.251 per share. This is a positive change from Suncor Energy ‘s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.00 annualized dividend and a yield of 2.84%. Suncor Energy ‘s dividend payout ratio (DPR) is presently 62.05%.

A number of institutional investors have recently added to or reduced their stakes in the stock. First Personal Financial Services lifted its stake in Suncor Energy by 144.1% in the second quarter. First Personal Financial Services now owns 3,845 shares of the oil and gas producer’s stock valued at $112,000 after buying an additional 2,270 shares in the last quarter. Forward Management LLC bought a new position in Suncor Energy in the third quarter valued at approximately $154,000. UBS Asset Management Americas Inc. lifted its stake in Suncor Energy by 13.7% in the second quarter. UBS Asset Management Americas Inc. now owns 4,658 shares of the oil and gas producer’s stock valued at $136,000 after buying an additional 562 shares in the last quarter. Quadrant Capital Group LLC lifted its stake in Suncor Energy by 90.8% in the second quarter. Quadrant Capital Group LLC now owns 4,725 shares of the oil and gas producer’s stock valued at $124,000 after buying an additional 2,248 shares in the last quarter. Finally, Howland Capital Management LLC bought a new position in Suncor Energy in the third quarter valued at approximately $201,000. 63.75% of the stock is currently owned by institutional investors and hedge funds.

About Suncor Energy

Suncor Energy Inc is a Canada-based 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.

Analyst Recommendations for Suncor Energy  (NYSE:SU)

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