Suncor Energy Inc. (NYSE:SU) Receives $58.00 Consensus PT from Brokerages

Suncor Energy Inc. (NYSE:SU) (TSE:SU) has been assigned an average recommendation of “Moderate Buy” from the thirteen ratings firms that are currently covering the company, Marketbeat reports. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $58.00.

SU has been the topic of several recent analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $66.00 price target on shares of Suncor Energy in a report on Tuesday, January 7th. Morgan Stanley cut shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a report on Monday, December 16th. Bank of America initiated coverage on shares of Suncor Energy in a report on Wednesday, February 26th. They issued a “neutral” rating on the stock. Cibc World Mkts upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 11th. Finally, Tudor, Pickering, Holt & Co. upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Monday, February 10th.

Hedge Funds Weigh In On Suncor Energy

Large investors have recently modified their holdings of the stock. Sanctuary Advisors LLC raised its position in shares of Suncor Energy by 32.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 82,204 shares of the oil and gas producer’s stock worth $3,035,000 after purchasing an additional 20,081 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of Suncor Energy by 86.0% in the 4th quarter. Jones Financial Companies Lllp now owns 67,848 shares of the oil and gas producer’s stock worth $2,421,000 after purchasing an additional 31,366 shares during the last quarter. Sage Investment Counsel LLC purchased a new position in shares of Suncor Energy in the 4th quarter worth about $300,000. Intech Investment Management LLC raised its position in shares of 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 during the last quarter. Finally, J.W. Cole Advisors Inc. purchased a new position in shares of Suncor Energy in the 4th quarter worth about $236,000. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Suncor Energy Stock Up 2.3 %

Shares of NYSE SU opened at $36.63 on Thursday. The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 0.21. Suncor Energy has a 52 week low of $33.81 and a 52 week high of $41.95. The firm’s fifty day moving average is $38.29 and its 200 day moving average is $38.24. The company has a market cap of $45.32 billion, a price-to-earnings ratio of 10.62, a PEG ratio of 2.94 and a beta of 1.11.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 EPS for the quarter, topping the consensus estimate of $0.82 by $0.07. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. On average, equities research analysts expect that Suncor Energy will post 3.42 earnings per share for the current year.

Suncor Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 4th will be given a $0.399 dividend. This represents a $1.60 annualized dividend and a dividend yield of 4.36%. The ex-dividend date is Tuesday, March 4th. Suncor Energy’s dividend payout ratio is presently 45.51%.

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.