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

Shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) have earned a consensus recommendation of “Moderate Buy” from the eleven analysts that are covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $80.25.

A number of research firms have recently issued reports on SU. Zacks Research downgraded shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Desjardins upgraded Suncor Energy to a “moderate buy” rating in a report on Thursday, July 16th. Scotiabank raised Suncor Energy to a “strong-buy” rating in a research note on Friday, June 26th. The Goldman Sachs Group cut Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price objective for the company. in a report on Friday, June 5th. Finally, Morgan Stanley set a $106.00 price objective on Suncor Energy in a report on Wednesday, August 19th.

Institutional Investors Weigh In On Suncor Energy

Institutional investors and hedge funds have recently made changes to their positions in the business. Versant Capital Management Inc increased its holdings in Suncor Energy by 418.9% during the 2nd quarter. Versant Capital Management Inc now owns 493 shares of the oil and gas producer’s stock valued at $26,000 after acquiring an additional 398 shares in the last quarter. Continuum Advisory LLC purchased a new stake in shares of Suncor Energy in the second quarter valued at about $27,000. 1 North Wealth Services LLC acquired a new stake in shares of Suncor Energy in the fourth quarter valued at approximately $32,000. Cassaday & Co Wealth Management LLC purchased a new position in shares of Suncor Energy during the 1st quarter worth approximately $53,000. Finally, Accent Capital Management LLC raised its position in shares of Suncor Energy by 37.5% during the 4th quarter. Accent Capital Management LLC now owns 825 shares of the oil and gas producer’s stock worth $37,000 after purchasing an additional 225 shares during the last quarter. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Suncor Energy Stock Performance

NYSE:SU opened at $69.54 on Friday. The firm’s fifty day simple moving average is $65.64 and its 200-day simple moving average is $63.38. The company has a quick ratio of 1.08, a current ratio of 1.65 and a debt-to-equity ratio of 0.19. The stock has a market cap of $81.33 billion, a PE ratio of 12.81, a price-to-earnings-growth ratio of 0.50 and a beta of 0.30. Suncor Energy has a fifty-two week low of $37.76 and a fifty-two week high of $72.06.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Tuesday, August 4th. The oil and gas producer reported $2.33 EPS for the quarter, beating the consensus estimate of $2.14 by $0.19. The firm had revenue of $13.41 billion during the quarter, compared to analysts’ expectations of $11.68 billion. Suncor Energy had a net margin of 15.62% and a return on equity of 20.05%. During the same quarter last year, the business earned $0.71 earnings per share. Analysts expect that Suncor Energy will post 7.39 earnings per share for the current fiscal year.

Suncor Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Friday, September 4th. Suncor Energy’s payout ratio is 31.86%.

Suncor Energy Company Profile

Suncor Energy Inc is an integrated energy company headquartered in Calgary, Alberta, Canada. Its operations include the development, production and upgrading of oil sands resources, conventional oil and natural gas production, and the refining and marketing of petroleum products.

Suncor produces crude oil, synthetic crude oil, refined fuels, lubricants and petrochemical feedstocks. Through its Petro-Canada brand, the company operates retail fuel stations and convenience stores across Canada, while its refining and marketing activities serve customers in Canada and the United States.

Founded in 1919, Suncor has evolved from an oil sands producer into one of Canada’s largest integrated energy companies.