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

Royal Bank of Canada restated their outperform rating on shares of Suncor Energy (NYSE:SU) (TSE:SU) in a research report released on Tuesday,Benzinga reports. The brokerage currently has a $66.00 price objective on the oil and gas producer’s stock.

Other equities research analysts have also issued reports about the stock. Desjardins upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Morgan Stanley downgraded shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a report on Monday, December 16th. Finally, StockNews.com lowered shares of Suncor Energy from a “buy” rating to a “hold” rating in a research report on Thursday, December 26th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.00.

Suncor Energy Price Performance

SU stock opened at $38.29 on Tuesday. The firm has a 50 day moving average of $37.98 and a 200-day moving average of $38.45. The firm has a market capitalization of $47.94 billion, a P/E ratio of 8.34, a price-to-earnings-growth ratio of 2.43 and a beta of 1.12. Suncor Energy has a 12 month low of $31.03 and a 12 month high of $41.94. The company has a current ratio of 1.59, a quick ratio of 1.04 and a debt-to-equity ratio of 0.24.

Suncor Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 24th. Investors of record on Tuesday, December 3rd were given a dividend of $0.4089 per share. The ex-dividend date was Tuesday, December 3rd. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a dividend yield of 4.27%. Suncor Energy’s payout ratio is currently 36.60%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Sanctuary Advisors LLC boosted its holdings in Suncor Energy by 32.3% in the third quarter. Sanctuary Advisors LLC now owns 82,204 shares of the oil and gas producer’s stock worth $3,035,000 after acquiring an additional 20,081 shares in the last quarter. Intech Investment Management LLC boosted its stake in Suncor Energy by 1,345.8% in the 3rd quarter. Intech Investment Management LLC now owns 468,415 shares of the oil and gas producer’s stock worth $17,309,000 after purchasing an additional 436,016 shares in the last quarter. Aigen Investment Management LP purchased a new stake in Suncor Energy during the 3rd quarter valued at about $1,376,000. DRW Securities LLC bought a new stake in Suncor Energy during the 3rd quarter valued at about $1,151,000. Finally, Mediolanum International Funds Ltd raised its holdings in Suncor Energy by 22.5% in the third quarter. Mediolanum International Funds Ltd now owns 250,849 shares of the oil and gas producer’s stock worth $9,245,000 after buying an additional 46,155 shares during the last quarter. 67.37% of the stock is currently owned by institutional investors.

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.