Suncor Energy Inc. (NYSE:SU) Receives $56.50 Consensus Target Price from Brokerages

Suncor Energy Inc. (NYSE:SU) (TSE:SU) has been assigned a consensus rating of “Buy” from the eleven research firms that are covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and three have given a strong buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $56.50.

SU has been the subject of a number of recent research reports. Wells Fargo & Company assumed coverage on Suncor Energy in a report on Friday, October 17th. They issued an “equal weight” rating for the company. Royal Bank Of Canada restated an “outperform” rating and set a $65.00 price target on shares of Suncor Energy in a report on Friday, October 3rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Suncor Energy in a report on Monday, December 29th. Raymond James Financial upgraded shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 6th. Finally, Zacks Research raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, December 22nd.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Richardson Financial Services Inc. grew its position in shares of Suncor Energy by 64.1% in the 3rd quarter. Richardson Financial Services Inc. now owns 704 shares of the oil and gas producer’s stock valued at $29,000 after buying an additional 275 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Suncor Energy during the second quarter worth about $31,000. Maseco LLP acquired a new position in shares of Suncor Energy in the second quarter worth approximately $32,000. Hanson & Doremus Investment Management boosted its holdings in Suncor Energy by 143.5% in the third quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 465 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in Suncor Energy by 95.8% in the third quarter. Smartleaf Asset Management LLC now owns 793 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 388 shares during the last quarter. 67.37% of the stock is owned by institutional investors.

Suncor Energy Price Performance

Shares of NYSE:SU opened at $48.95 on Friday. The firm has a 50 day simple moving average of $44.48 and a 200 day simple moving average of $41.58. The company has a market cap of $58.66 billion, a price-to-earnings ratio of 16.05 and a beta of 0.46. Suncor Energy has a one year low of $30.79 and a one year high of $50.12. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.35 and a quick ratio of 0.85.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings results on Tuesday, November 4th. The oil and gas producer reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.22. Suncor Energy had a net margin of 10.61% and a return on equity of 13.01%. The company had revenue of $9.04 billion during the quarter, compared to the consensus estimate of $8.82 billion. During the same period in the prior year, the business earned $1.48 earnings per share. Research analysts predict that Suncor Energy will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 24th. Investors of record on Wednesday, December 3rd were paid a $0.60 dividend. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.41. This represents a $2.40 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend was Wednesday, December 3rd. Suncor Energy’s payout ratio is presently 56.39%.

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.