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

Suncor Energy Inc. (NYSE:SU) (TSE:SU) has been assigned a consensus recommendation of “Buy” from the ten ratings firms that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $71.6667.

A number of equities research analysts have recently issued reports on SU shares. Wall Street Zen upgraded Suncor Energy from a “buy” rating to a “strong-buy” rating in a research note on Sunday, July 12th. ATB Cormark Capital Markets raised shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, April 1st. Scotiabank upgraded shares of Suncor Energy to a “strong-buy” rating in a report on Friday, June 26th. Weiss Ratings downgraded shares of Suncor Energy from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 14th. Finally, Zacks Research raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 6th.

Suncor Energy Stock Performance

SU opened at $65.84 on Thursday. Suncor Energy has a 52-week low of $37.76 and a 52-week high of $70.29. The firm has a market capitalization of $77.74 billion, a PE ratio of 17.28, a PEG ratio of 0.48 and a beta of 0.30. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.92 and a current ratio of 1.42. The business’s 50-day simple moving average is $60.64 and its 200 day simple moving average is $59.89.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 EPS for the quarter, missing the consensus estimate of $1.45 by ($0.04). The company had revenue of $10.41 billion for the quarter, compared to analyst estimates of $9.22 billion. Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. During the same period last year, the company posted $1.31 earnings per share. As a group, sell-side analysts expect that Suncor Energy will post 7.11 earnings per share for the current fiscal year.

Suncor Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th were paid a dividend of $0.60 per share. The ex-dividend date was Thursday, June 4th. This represents a $2.40 annualized dividend and a dividend yield of 3.6%. Suncor Energy’s payout ratio is currently 45.41%.

Institutional Investors Weigh In On Suncor Energy

Several hedge funds have recently bought and sold shares of the company. Gradient Investments LLC grew its holdings in Suncor Energy by 2.9% during the second quarter. Gradient Investments LLC now owns 119,099 shares of the oil and gas producer’s stock worth $6,393,000 after purchasing an additional 3,333 shares during the period. Balefire LLC bought a new stake in Suncor Energy in the second quarter valued at approximately $638,000. Baron Wealth Management LLC raised its stake in Suncor Energy by 3.0% in the second quarter. Baron Wealth Management LLC now owns 11,981 shares of the oil and gas producer’s stock valued at $643,000 after buying an additional 345 shares during the period. Grove Bank & Trust acquired a new stake in shares of Suncor Energy in the second quarter valued at approximately $439,000. Finally, Pacific Excel Wealth Advisors Inc. acquired a new stake in shares of Suncor Energy in the second quarter valued at approximately $308,000. 67.37% of the stock is currently owned by institutional investors and hedge funds.

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.