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

Shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) have been assigned an average rating of “Moderate Buy” from the nine research firms that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $54.86.

A number of equities analysts have recently commented on the stock. Raymond James raised shares of Suncor Energy to a “hold” rating in a report on Tuesday, May 28th. TD Securities raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. Scotiabank reduced their price objective on shares of Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. BMO Capital Markets raised shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Wednesday, August 7th. Finally, Wolfe Research started coverage on shares of Suncor Energy in a report on Thursday, July 18th. They set an “outperform” rating and a $68.00 price target for the company.

Suncor Energy Price Performance

Shares of Suncor Energy stock opened at $40.84 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.46 and a quick ratio of 0.93. Suncor Energy has a fifty-two week low of $29.45 and a fifty-two week high of $41.92. The firm has a fifty day moving average price of $38.67 and a two-hundred day moving average price of $37.64. The company has a market cap of $51.89 billion, a PE ratio of 9.10, a price-to-earnings-growth ratio of 2.84 and a beta of 1.12.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings results on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.51. Suncor Energy had a net margin of 14.40% and a return on equity of 16.22%. The firm had revenue of $12.90 billion during the quarter, compared to the consensus estimate of $9.30 billion. During the same period in the prior year, the firm earned $0.71 EPS. The business’s revenue was up 10.1% on a year-over-year basis. Analysts expect that Suncor Energy will post 3.64 EPS for the current year.

Suncor Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be given a dividend of $0.395 per share. This represents a $1.58 annualized dividend and a dividend yield of 3.87%. The ex-dividend date of this dividend is Wednesday, September 4th. Suncor Energy’s dividend payout ratio is 35.63%.

Institutional Investors Weigh In On Suncor Energy

Several institutional investors have recently modified their holdings of the business. International Assets Investment Management LLC acquired a new position in Suncor Energy during the fourth quarter valued at approximately $400,000. Bryn Mawr Capital Management LLC acquired a new position in Suncor Energy during the fourth quarter valued at approximately $205,000. Russell Investments Group Ltd. grew its holdings in Suncor Energy by 4.8% during the fourth quarter. Russell Investments Group Ltd. now owns 3,110,530 shares of the oil and gas producer’s stock valued at $100,123,000 after purchasing an additional 143,255 shares during the period. Intact Investment Management Inc. grew its holdings in Suncor Energy by 12.1% during the fourth quarter. Intact Investment Management Inc. now owns 2,649,414 shares of the oil and gas producer’s stock valued at $84,881,000 after purchasing an additional 285,050 shares during the period. Finally, Van ECK Associates Corp grew its holdings in Suncor Energy by 19.1% during the fourth quarter. Van ECK Associates Corp now owns 224,406 shares of the oil and gas producer’s stock valued at $7,195,000 after purchasing an additional 35,980 shares during the period. Institutional investors and hedge funds own 67.37% of the company’s stock.

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.