Suncor Energy Inc. (NYSE:SU) Receives $71.67 Average Target Price from Brokerages

Suncor Energy Inc. (NYSE:SU) (TSE:SU) has earned a consensus rating of “Moderate Buy” from the eight brokerages that are currently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $71.6667.

A number of brokerages recently weighed in on SU. 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. Weiss Ratings downgraded shares of Suncor Energy from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, June 3rd. The Goldman Sachs Group downgraded shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 target price on the stock. in a research note on Friday, June 5th. Wall Street Zen downgraded shares of Suncor Energy from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 7th. Finally, Zacks Research cut shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 1st.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Atlantic Edge Private Wealth Management LLC grew its position in Suncor Energy by 54.9% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 635 shares of the oil and gas producer’s stock valued at $28,000 after acquiring an additional 225 shares during the last quarter. Headlands Technologies LLC bought a new position in Suncor Energy during the second quarter valued at approximately $31,000. 1 North Wealth Services LLC bought a new position in Suncor Energy during the fourth quarter valued at approximately $32,000. Smartleaf Asset Management LLC grew its position in Suncor Energy by 95.8% during 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. Finally, Accent Capital Management LLC grew its position in Suncor Energy by 37.5% during the fourth quarter. Accent Capital Management LLC now owns 825 shares of the oil and gas producer’s stock valued at $37,000 after acquiring an additional 225 shares during the last quarter. 67.37% of the stock is currently owned by institutional investors.

Suncor Energy Trading Down 0.4%

Shares of SU opened at $61.56 on Wednesday. The firm’s 50 day simple moving average is $64.94 and its 200 day simple moving average is $56.36. The company has a market capitalization of $72.69 billion, a P/E ratio of 16.16 and a beta of 0.27. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 0.92. Suncor Energy has a 1-year low of $37.22 and a 1-year high of $70.29.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). The company had revenue of $10.41 billion during the quarter, compared to analysts’ expectations 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 in the prior year, the business earned $1.31 earnings per share. Sell-side analysts forecast that Suncor Energy will post 7.07 earnings per share for the current fiscal year.

Suncor Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Thursday, June 4th. Suncor Energy’s dividend payout ratio (DPR) is presently 45.67%.

About Suncor Energy

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.