Suncor Energy Inc. (NYSE:SU) Given Consensus Rating of “Buy” by Brokerages

Suncor Energy Inc. (NYSE:SU) (TSE:SU) has been assigned an average rating of “Buy” from the eight ratings firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $72.00.

SU has been the topic of several analyst reports. The Goldman Sachs Group lifted their price target on shares of Suncor Energy from $66.00 to $73.00 and gave the stock a “buy” rating in a research note on Wednesday, April 1st. Zacks Research raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 2nd. JPMorgan Chase & Co. raised shares of Suncor Energy from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $46.15 to $54.00 in a research note on Tuesday, January 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Suncor Energy in a research note on Monday, December 29th. Finally, Royal Bank Of Canada lifted their price target on shares of Suncor Energy from $75.00 to $89.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 1st.

Suncor Energy Stock Up 0.7%

Shares of NYSE SU opened at $61.59 on Tuesday. Suncor Energy has a 1 year low of $33.50 and a 1 year high of $67.76. The firm’s 50 day moving average price is $60.53 and its 200 day moving average price is $50.22. The firm has a market cap of $72.94 billion, a P/E ratio of 17.75 and a beta of 0.32. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.89 and a current ratio of 1.39.

Suncor Energy (NYSE:SU) (TSE:SU) last released its earnings results on Tuesday, February 3rd. The oil and gas producer reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.02. Suncor Energy had a net margin of 11.99% and a return on equity of 12.51%. The firm had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.79 billion. During the same period in the previous year, the firm earned $1.25 earnings per share. As a group, sell-side analysts anticipate that Suncor Energy will post 5.69 earnings per share for the current year.

Suncor Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 25th. Investors of record on Wednesday, March 4th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Wednesday, March 4th. This represents a $2.40 annualized dividend and a yield of 3.9%. Suncor Energy’s payout ratio is 50.72%.

Institutional Investors Weigh In On Suncor Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ritholtz Wealth Management increased its stake in Suncor Energy by 6.3% during the 1st quarter. Ritholtz Wealth Management now owns 87,753 shares of the oil and gas producer’s stock worth $5,801,000 after buying an additional 5,221 shares during the period. Assenagon Asset Management S.A. increased its stake in Suncor Energy by 1,498.3% during the 1st quarter. Assenagon Asset Management S.A. now owns 611,716 shares of the oil and gas producer’s stock worth $40,436,000 after buying an additional 573,442 shares during the period. Miller Howard Investments Inc. NY grew its holdings in Suncor Energy by 3.7% during the 1st quarter. Miller Howard Investments Inc. NY now owns 95,128 shares of the oil and gas producer’s stock worth $6,289,000 after acquiring an additional 3,410 shares in the last quarter. Cidel Asset Management Inc. grew its holdings in Suncor Energy by 1,673.2% during the 1st quarter. Cidel Asset Management Inc. now owns 139,288 shares of the oil and gas producer’s stock worth $9,183,000 after acquiring an additional 131,433 shares in the last quarter. Finally, Steph & Co. grew its holdings in Suncor Energy by 3.5% during the 1st quarter. Steph & Co. now owns 7,541 shares of the oil and gas producer’s stock worth $499,000 after acquiring an additional 255 shares in the last quarter. Hedge funds and other institutional investors own 67.37% of the company’s stock.

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.