Suncor Energy (NYSE:SU) PT Lowered to C$53.00 at Scotiabank

Suncor Energy (NYSE:SU – Get Rating) (TSE:SU) had its price objective reduced by Scotiabank from C$56.00 to C$53.00 in a research note published on Wednesday, The Fly reports.

A number of other equities research analysts have also commented on the stock. Jefferies Financial Group started coverage on shares of Suncor Energy in a report on Wednesday, October 19th. They set a hold rating on the stock. Raymond James lifted their price target on Suncor Energy from C$50.00 to C$53.00 in a research note on Tuesday, November 8th. National Bank Financial reduced their price objective on Suncor Energy from C$63.00 to C$53.00 in a research report on Friday, September 30th. StockNews.com downgraded Suncor Energy from a buy rating to a hold rating in a report on Friday, November 4th. Finally, Credit Suisse Group reduced their price target on Suncor Energy from C$63.00 to C$60.00 in a research report on Monday, November 21st. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Suncor Energy presently has an average rating of Hold and a consensus target price of $51.25.

Suncor Energy Stock Performance

Shares of SU stock opened at $31.94 on Wednesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.91 and a current ratio of 1.26. Suncor Energy has a 52 week low of $22.22 and a 52 week high of $42.72. The company’s 50 day moving average price is $33.15 and its two-hundred day moving average price is $33.93. The company has a market capitalization of $43.25 billion, a P/E ratio of 7.35, a price-to-earnings-growth ratio of 0.58 and a beta of 1.28.

Suncor Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 23rd. Investors of record on Friday, December 2nd will be paid a $0.3911 dividend. The ex-dividend date is Thursday, December 1st. This is a boost from Suncor Energy’s previous quarterly dividend of $0.37. This represents a $1.56 annualized dividend and a dividend yield of 4.90%. Suncor Energy’s dividend payout ratio (DPR) is currently 32.80%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Toroso Investments LLC boosted its stake in shares of Suncor Energy by 56.2% during the 3rd quarter. Toroso Investments LLC now owns 11,705 shares of the oil and gas producer’s stock worth $329,000 after acquiring an additional 4,213 shares during the period. B. Riley Wealth Advisors Inc. boosted its position in Suncor Energy by 18.9% during the third quarter. B. Riley Wealth Advisors Inc. now owns 16,813 shares of the oil and gas producer’s stock worth $474,000 after purchasing an additional 2,671 shares during the period. Ninepoint Partners LP acquired a new position in shares of Suncor Energy in the third quarter valued at $56,300,000. Power Corp of Canada acquired a new position in shares of Suncor Energy in the third quarter valued at $349,000. Finally, CENTRAL TRUST Co lifted its stake in shares of Suncor Energy by 122.2% during the 3rd quarter. CENTRAL TRUST Co now owns 2,000 shares of the oil and gas producer’s stock worth $56,000 after buying an additional 1,100 shares during the last quarter. 58.79% of the stock is currently owned by institutional investors and hedge funds.

Suncor Energy Company Profile

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Suncor Energy Inc operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada's Athabasca oil sands; explores, acquires, develops, produces, transports, refines, and markets crude oil in Canada and internationally; markets petroleum and petrochemical products under the Petro-Canada name primarily in Canada.