Gerdes Energy Research Has Lowered Expectations for Suncor Energy (TSE:SU) Stock Price

Key Points

• Gerdes Energy Research has reduced its price target for Suncor Energy from C$79.00 to C$77.00, indicating a potential upside of 32.55% from the current price.
• Despite the decrease in price objective, several other brokerages have increased their price targets for Suncor Energy, with an average price target of C$63.67 and a consensus rating of "Moderate Buy."
• Suncor Energy's stock recently traded down 0.8% to C$58.09 and reported a quarterly earnings of C$0.71 per share, with a return on equity of 18.10% and a net margin of 15.15%.

Suncor Energy (TSE:SU - Free Report) NYSE: SU had its price target cut by Gerdes Energy Research from C$79.00 to C$77.00 in a research report released on Thursday,BayStreet.CA reports.

A number of other research firms also recently issued reports on SU. Wells Fargo & Company lifted their price objective on Suncor Energy from C$59.00 to C$60.00 and gave the stock an "overweight" rating in a research note on Thursday, June 26th. ATB Capital lifted their target price on Suncor Energy from C$60.00 to C$62.00 and gave the stock a "sector perform" rating in a report on Thursday, August 7th. Desjardins boosted their price objective on Suncor Energy from C$64.00 to C$65.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Raymond James Financial lifted their target price on Suncor Energy from C$57.00 to C$58.00 and gave the company a "market perform" rating in a research report on Thursday, August 7th. Finally, TD Securities upped their target price on Suncor Energy from C$62.00 to C$63.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of C$63.67.

Suncor Energy Trading Up 1.8%

Shares of Suncor Energy stock traded up C$1.02 during midday trading on Thursday, reaching C$59.15. 11,103,176 shares of the company's stock traded hands, compared to its average volume of 8,215,938. The company has a debt-to-equity ratio of 33.35, a quick ratio of 0.83 and a current ratio of 1.59. The company has a market cap of C$71.76 billion, a PE ratio of 13.03, a price-to-earnings-growth ratio of 0.15 and a beta of 0.83. The stock has a 50 day moving average of C$54.83 and a 200-day moving average of C$52.20. Suncor Energy has a 12 month low of C$43.59 and a 12 month high of C$59.76.

Suncor Energy (TSE:SU - Get Free Report) NYSE: SU last issued its quarterly earnings results on Tuesday, August 5th. The company reported C$0.71 earnings per share for the quarter. Suncor Energy had a return on equity of 18.10% and a net margin of 15.15%. As a group, equities analysts expect that Suncor Energy will post 4.4208333 EPS for the current fiscal year.

Suncor Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 25th will be issued a $0.57 dividend. The ex-dividend date is Thursday, September 4th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.9%. Suncor Energy's dividend payout ratio is currently 49.67%.

Insider Activity

In other Suncor Energy news, insider Kristopher Peter Smith sold 100,000 shares of the stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of C$57.57, for a total transaction of C$5,757,000.00. Following the transaction, the insider owned 48,482 shares of the company's stock, valued at C$2,791,108.74. This represents a 67.35% decrease in their position. Also, insider David Jason Oldreive sold 4,542 shares of the stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of C$57.50, for a total value of C$261,165.00. Insiders have sold 139,542 shares of company stock worth $8,052,015 in the last quarter. 0.01% of the stock is currently owned by corporate insiders.

About Suncor Energy

Suncor Energy Inc is an integrated energy company. The company's operations include oil sands development, production and upgrading, offshore oil and gas, petroleum refining in Canada and the U.S. and the company's PetroCanada retail and wholesale distribution networks. The company is developing petroleum resources while advancing the transition to a low-emissions future through investment in power, renewable fuels and hydrogen.