Suncor Energy Inc. (NYSE:SU) Receives Consensus Rating of “Moderate Buy” from Brokerages

Suncor Energy Inc. (NYSE:SU) (TSE:SU) has received an average recommendation of “Moderate Buy” from the eight analysts that are presently covering the stock, MarketBeat Ratings reports. Two 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 ratings on the stock in the last year is $55.83.

A number of research firms recently commented on SU. StockNews.com upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Wolfe Research began coverage on shares of Suncor Energy in a research note on Thursday, July 18th. They set an “outperform” rating and a $68.00 price objective for the company. Raymond James raised Suncor Energy to a “hold” rating in a research note on Tuesday, May 28th. Scotiabank lowered their price target on Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. Finally, TD Securities upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th.

Hedge Funds Weigh In On Suncor Energy

Several large investors have recently modified their holdings of the stock. Sanctuary Advisors LLC purchased a new position in shares of Suncor Energy in the 2nd quarter worth about $2,448,000. Cetera Investment Advisers raised its position in Suncor Energy by 8.2% in the 2nd quarter. Cetera Investment Advisers now owns 92,292 shares of the oil and gas producer’s stock worth $3,516,000 after buying an additional 7,015 shares during the last quarter. Chase Investment Counsel Corp raised its position in Suncor Energy by 7.2% in the 2nd quarter. Chase Investment Counsel Corp now owns 12,666 shares of the oil and gas producer’s stock worth $482,000 after buying an additional 852 shares during the last quarter. Quarry LP raised its position in Suncor Energy by 73.0% in the 2nd quarter. Quarry LP now owns 51,678 shares of the oil and gas producer’s stock worth $1,969,000 after buying an additional 21,806 shares during the last quarter. Finally, NewEdge Advisors LLC raised its position in Suncor Energy by 52.8% in the 2nd quarter. NewEdge Advisors LLC now owns 39,593 shares of the oil and gas producer’s stock worth $1,509,000 after buying an additional 13,674 shares during the last quarter. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Suncor Energy Price Performance

Shares of Suncor Energy stock opened at $36.98 on Thursday. The firm has a market capitalization of $47.39 billion, a PE ratio of 8.24, a price-to-earnings-growth ratio of 2.44 and a beta of 1.13. The company has a current ratio of 1.46, a quick ratio of 0.93 and a debt-to-equity ratio of 0.26. Suncor Energy has a 12 month low of $29.45 and a 12 month high of $41.94. The business’s 50-day moving average price is $38.93 and its 200-day moving average price is $38.32.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.51. The company had revenue of $12.90 billion during the quarter, compared to analysts’ expectations of $9.30 billion. Suncor Energy had a net margin of 14.40% and a return on equity of 16.22%. The firm’s revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.71 EPS. Sell-side analysts forecast that Suncor Energy will post 3.71 EPS for the current fiscal year.

Suncor Energy Dividend Announcement

The business 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 $0.395 dividend. This represents a $1.58 annualized dividend and a dividend yield of 4.27%. The ex-dividend date is Wednesday, September 4th. Suncor Energy’s dividend payout ratio is presently 35.86%.

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.