Suncor Energy Inc. (NYSE:SU) Receives $59.20 Consensus Target Price from Brokerages

Suncor Energy Inc. (NYSE:SU) (TSE:SU) has been given a consensus recommendation of “Moderate Buy” by the thirteen ratings firms that are presently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $59.20.

Several research analysts have recently issued reports on SU shares. Cibc World Mkts upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 11th. Scotiabank upgraded Suncor Energy to a “hold” rating in a research report on Wednesday, March 19th. Bank of America initiated coverage on shares of Suncor Energy in a research report on Wednesday, February 26th. They issued a “neutral” rating on the stock. Tudor, Pickering, Holt & Co. upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Monday, February 10th. Finally, Tudor Pickering raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 10th.

Institutional Trading of Suncor Energy

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Suncor Energy by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 53,019,357 shares of the oil and gas producer’s stock worth $1,892,526,000 after acquiring an additional 323,714 shares during the last quarter. Artisan Partners Limited Partnership grew its stake in shares of Suncor Energy by 0.7% in the fourth quarter. Artisan Partners Limited Partnership now owns 24,289,019 shares of the oil and gas producer’s stock worth $865,885,000 after purchasing an additional 169,700 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Suncor Energy by 0.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 23,308,055 shares of the oil and gas producer’s stock valued at $831,631,000 after purchasing an additional 209,447 shares during the period. Toronto Dominion Bank raised its position in Suncor Energy by 3.0% during the 4th quarter. Toronto Dominion Bank now owns 19,098,225 shares of the oil and gas producer’s stock worth $680,847,000 after purchasing an additional 552,018 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in Suncor Energy by 65.0% during the 1st quarter. Principal Financial Group Inc. now owns 16,018,129 shares of the oil and gas producer’s stock worth $620,136,000 after buying an additional 6,311,513 shares during the period. 67.37% of the stock is currently owned by institutional investors.

Suncor Energy Price Performance

Shares of NYSE:SU opened at $35.13 on Friday. The firm has a market capitalization of $43.31 billion, a PE ratio of 10.18, a PEG ratio of 2.94 and a beta of 0.79. The company has a current ratio of 1.33, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. Suncor Energy has a 1-year low of $30.79 and a 1-year high of $41.95. The business’s 50 day moving average is $35.72 and its 200-day moving average is $37.50.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its earnings results on Tuesday, May 6th. The oil and gas producer reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.05. The business had revenue of $9.10 billion for the quarter, compared to analyst estimates of $13.39 billion. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. During the same period in the previous year, the business earned $1.41 EPS. Sell-side analysts predict that Suncor Energy will post 3.42 earnings per share for the current year.

Suncor Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 4th were issued a $0.399 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $1.60 dividend on an annualized basis and a yield of 4.54%. Suncor Energy’s payout ratio is presently 45.51%.

About Suncor Energy

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.