Brokerages Set Suncor Energy Inc. (NYSE:SU) Target Price at $58.00

Suncor Energy Inc. (NYSE:SU) (TSE:SU) has earned an average rating of “Moderate Buy” from the nine brokerages that are currently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $58.00.

A number of research analysts have commented on the company. StockNews.com lowered 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. Desjardins upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $66.00 target price on shares of Suncor Energy in a research report on Friday, December 20th.

Suncor Energy Trading Up 0.1 %

Shares of NYSE:SU opened at $35.29 on Friday. The stock has a market cap of $44.40 billion, a PE ratio of 7.69, a P/E/G ratio of 2.43 and a beta of 1.11. The company has a quick ratio of 1.04, a current ratio of 1.59 and a debt-to-equity ratio of 0.24. Suncor Energy has a 12-month low of $31.03 and a 12-month high of $41.94. The business has a 50 day moving average of $38.22 and a 200-day moving average of $38.47.

Suncor Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 24th. Investors of record on Tuesday, December 3rd were given a dividend of $0.4089 per share. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $1.64 annualized dividend and a dividend yield of 4.63%. Suncor Energy’s dividend payout ratio (DPR) is currently 36.60%.

Hedge Funds Weigh In On Suncor Energy

Several hedge funds and other institutional investors have recently modified their holdings of SU. Principal Financial Group Inc. boosted its stake in shares of Suncor Energy by 23.0% in the 3rd quarter. Principal Financial Group Inc. now owns 6,939,573 shares of the oil and gas producer’s stock valued at $256,429,000 after purchasing an additional 1,296,142 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Suncor Energy by 0.8% during the third quarter. Franklin Resources Inc. now owns 3,619,354 shares of the oil and gas producer’s stock worth $146,948,000 after buying an additional 29,014 shares during the last quarter. Peapack Gladstone Financial Corp acquired a new position in shares of Suncor Energy during the third quarter worth $206,000. Synovus Financial Corp lifted its stake in shares of Suncor Energy by 11.7% in the 3rd quarter. Synovus Financial Corp now owns 81,371 shares of the oil and gas producer’s stock valued at $3,004,000 after acquiring an additional 8,519 shares during the last quarter. Finally, Tidal Investments LLC boosted its holdings in shares of Suncor Energy by 59.6% during the 3rd quarter. Tidal Investments LLC now owns 21,971 shares of the oil and gas producer’s stock valued at $811,000 after acquiring an additional 8,207 shares in the last quarter. Institutional investors own 67.37% of the company’s stock.

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.