Suncor Energy Inc. (NYSE:SU) Receives $58.00 Consensus Price Target from Analysts

Suncor Energy Inc. (NYSE:SU) (TSE:SU) has earned a consensus recommendation of “Moderate Buy” from the nine analysts that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $58.00.

Several equities research analysts have issued reports on SU shares. StockNews.com lowered shares of Suncor Energy from a “buy” rating to a “hold” rating in a report on Thursday, December 26th. Morgan Stanley lowered shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 16th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $66.00 price objective on shares of Suncor Energy in a report on Friday, December 20th. Finally, Desjardins raised Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, November 14th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC lifted its stake in Suncor Energy by 16.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 77,434 shares of the oil and gas producer’s stock valued at $2,950,000 after purchasing an additional 11,040 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Suncor Energy by 57.5% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 49,000 shares of the oil and gas producer’s stock worth $1,867,000 after acquiring an additional 17,884 shares during the period. HB Wealth Management LLC acquired a new position in shares of Suncor Energy during the 2nd quarter worth approximately $207,000. Signaturefd LLC raised its stake in Suncor Energy by 1.5% in the 2nd quarter. Signaturefd LLC now owns 26,530 shares of the oil and gas producer’s stock valued at $1,011,000 after acquiring an additional 402 shares during the period. Finally, Atlas Capital Advisors LLC lifted its holdings in Suncor Energy by 19.6% during the 2nd quarter. Atlas Capital Advisors LLC now owns 3,866 shares of the oil and gas producer’s stock valued at $147,000 after purchasing an additional 634 shares during the last quarter. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Price Performance

Shares of Suncor Energy stock opened at $35.29 on Friday. The firm has a fifty day moving average price of $38.22 and a two-hundred day moving average price of $38.47. Suncor Energy has a fifty-two week low of $31.03 and a fifty-two week high of $41.94. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 1.04. The company has a market cap of $44.40 billion, a PE ratio of 7.69, a price-to-earnings-growth ratio of 2.43 and a beta of 1.11.

Suncor Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 24th. Investors of record on Tuesday, December 3rd were given a $0.4089 dividend. The ex-dividend date was Tuesday, December 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 4.63%. This is an increase from Suncor Energy’s previous quarterly dividend of $0.40. Suncor Energy’s dividend payout ratio (DPR) is 36.60%.

Suncor Energy Company Profile

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.