Suncor Energy (SU) Upgraded by AltaCorp Capital to Outperform

AltaCorp Capital upgraded shares of Suncor Energy (TSE:SU) (NYSE:SU) from a sector perform rating to an outperform rating in a report published on Wednesday.

A number of other analysts have also issued reports on the company. Canaccord Genuity raised their price target on Suncor Energy from C$64.00 to C$67.00 in a research note on Thursday, August 16th. National Bank Financial raised their price target on Suncor Energy from C$57.00 to C$64.00 and gave the stock a c$53.66 rating in a research note on Wednesday, July 18th. CIBC reaffirmed an outperform rating and issued a C$64.00 price objective on shares of Suncor Energy in a research note on Friday, October 5th. BMO Capital Markets lifted their price objective on Suncor Energy from C$60.00 to C$65.00 in a research note on Tuesday, October 9th. Finally, Barclays lifted their price objective on Suncor Energy from C$60.00 to C$68.00 in a research note on Wednesday, July 11th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Suncor Energy presently has a consensus rating of Buy and an average target price of C$60.88.

TSE:SU traded up C$0.57 during mid-day trading on Wednesday, reaching C$46.97. The company’s stock had a trading volume of 1,427,814 shares, compared to its average volume of 3,033,745. Suncor Energy has a twelve month low of C$40.49 and a twelve month high of C$55.47.

Suncor Energy (TSE:SU) (NYSE:SU) last issued its quarterly earnings results on Wednesday, July 25th. The company reported C$0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.75 by C($0.02). Suncor Energy had a return on equity of 12.21% and a net margin of 15.36%. The business had revenue of C$10.43 billion during the quarter, compared to analyst estimates of C$8.53 billion.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 25th. Stockholders of record on Tuesday, September 4th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 3.07%. The ex-dividend date was Friday, August 31st.

In other news, insider Janice Odegaard sold 60,000 shares of Suncor Energy stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of C$54.00, for a total value of C$3,240,000.00.

Suncor Energy Company Profile

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, and markets crude oil and natural gas in Canada and internationally; transports and refines crude oil; markets petroleum and petrochemical products primarily in Canada.

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Analyst Recommendations for Suncor Energy (TSE:SU)

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