Suncor Energy Inc. (NYSE:SU) Receives $80.25 Consensus Price Target from Brokerages

Shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) have received a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are presently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $80.25.

SU has been the subject of several research reports. Scotiabank upgraded shares of Suncor Energy to a “strong-buy” rating in a research note on Friday, June 26th. Morgan Stanley set a $106.00 price objective on shares of Suncor Energy in a report on Wednesday, August 19th. Zacks Research downgraded Suncor Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. The Goldman Sachs Group lowered Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price objective for the company. in a research report on Friday, June 5th. Finally, Wall Street Zen downgraded Suncor Energy from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 1st.

Hedge Funds Weigh In On Suncor Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc lifted its holdings in shares of Suncor Energy by 418.9% during the second quarter. Versant Capital Management Inc now owns 493 shares of the oil and gas producer’s stock valued at $26,000 after purchasing an additional 398 shares in the last quarter. Continuum Advisory LLC purchased a new position in Suncor Energy in the 2nd quarter worth about $27,000. Headlands Technologies LLC purchased a new position in Suncor Energy in the 2nd quarter worth about $31,000. 1 North Wealth Services LLC bought a new position in Suncor Energy during the 4th quarter valued at about $32,000. Finally, Accent Capital Management LLC boosted its holdings in shares of Suncor Energy by 37.5% during the 4th quarter. Accent Capital Management LLC now owns 825 shares of the oil and gas producer’s stock valued at $37,000 after acquiring an additional 225 shares during the last quarter. 67.37% of the stock is owned by institutional investors.

Suncor Energy Price Performance

Shares of SU stock opened at $65.50 on Monday. The stock has a market cap of $77.34 billion, a price-to-earnings ratio of 12.06, a PEG ratio of 0.47 and a beta of 0.29. The business’s fifty day moving average is $61.93 and its 200 day moving average is $62.11. Suncor Energy has a twelve month low of $37.76 and a twelve month high of $70.29. The company has a quick ratio of 1.08, a current ratio of 1.65 and a debt-to-equity ratio of 0.19.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings data on Tuesday, August 4th. The oil and gas producer reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.19. Suncor Energy had a return on equity of 20.05% and a net margin of 15.62%.The business had revenue of $13.41 billion during the quarter, compared to the consensus estimate of $11.68 billion. During the same quarter in the prior year, the company earned $0.71 earnings per share. Research analysts expect that Suncor Energy will post 7.39 EPS for the current fiscal year.

Suncor Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $2.40 annualized dividend and a yield of 3.7%. Suncor Energy’s payout ratio is 32.04%.

Suncor Energy Company Profile

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company’s operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.