Brokerages Set Suncor Energy Inc. (NYSE:SU) Price Target at $64.67

Shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) have been assigned a consensus rating of “Moderate Buy” from the eleven ratings firms that are currently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $64.67.

A number of analysts recently issued reports on the company. Scotiabank raised Suncor Energy to a “hold” rating in a research report on Wednesday, March 19th. Bank of America began coverage on Suncor Energy in a report on Wednesday, February 26th. They set a “neutral” rating for the company. Finally, Wall Street Zen lowered Suncor Energy from a “buy” rating to a “hold” rating in a report on Thursday, April 17th.

Hedge Funds Weigh In On Suncor Energy

Large investors have recently bought and sold shares of the stock. Hanson & Doremus Investment Management raised its stake in shares of Suncor Energy by 143.5% in the first quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 465 shares in the last quarter. Salem Investment Counselors Inc. raised its stake in shares of Suncor Energy by 97.6% in the 1st quarter. Salem Investment Counselors Inc. now owns 820 shares of the oil and gas producer’s stock valued at $32,000 after buying an additional 405 shares in the last quarter. Crowley Wealth Management Inc. acquired a new position in shares of Suncor Energy in the 4th quarter valued at $35,000. Lee Danner & Bass Inc. acquired a new position in shares of Suncor Energy in the 4th quarter valued at $36,000. Finally, N.E.W. Advisory Services LLC acquired a new position in Suncor Energy in the first quarter worth about $36,000. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Suncor Energy Trading Down 0.8%

Shares of NYSE SU opened at $37.97 on Friday. Suncor Energy has a one year low of $30.79 and a one year high of $41.95. The firm has a market capitalization of $46.42 billion, a PE ratio of 10.94, a PEG ratio of 3.33 and a beta of 0.79. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. The business has a 50-day moving average price of $36.52 and a two-hundred day moving average price of $36.95.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings results on Tuesday, May 6th. The oil and gas producer reported $0.91 EPS for the quarter, topping the consensus estimate of $0.86 by $0.05. The business had revenue of $9.10 billion during the quarter, compared to analysts’ expectations of $13.39 billion. Suncor Energy had a net margin of 11.95% and a return on equity of 14.90%. During the same period last year, the company posted $1.41 earnings per share. As a group, 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 declared a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Wednesday, June 4th were issued a dividend of $0.4133 per share. The ex-dividend date was Wednesday, June 4th. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.40. This represents a $1.65 dividend on an annualized basis and a dividend yield of 4.35%. Suncor Energy’s payout ratio is 47.84%.

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.