Suncor Energy Inc. (NYSE:SU) Receives Consensus Rating of “Buy” from Brokerages

Shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) have been given an average rating of “Buy” by the nine analysts that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $71.6667.

Several research firms have issued reports on SU. The Goldman Sachs Group cut shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price objective for the company. in a research report on Friday, June 5th. Scotiabank raised shares of Suncor Energy to a “strong-buy” rating in a research note on Friday, June 26th. Wall Street Zen upgraded Suncor Energy from a “buy” rating to a “strong-buy” rating in a report on Sunday. Weiss Ratings raised Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, June 26th. Finally, ATB Cormark Capital Markets upgraded Suncor Energy from a “hold” rating to a “moderate buy” rating in a report on Wednesday, April 1st.

Suncor Energy Trading Up 1.2%

Shares of NYSE:SU traded up $0.73 on Friday, hitting $59.22. 3,398,603 shares of the company’s stock were exchanged, compared to its average volume of 4,746,634. The stock has a market capitalization of $69.92 billion, a price-to-earnings ratio of 15.54 and a beta of 0.30. Suncor Energy has a 12 month low of $37.76 and a 12 month high of $70.29. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 0.92. The business’s 50 day simple moving average is $61.60 and its two-hundred day simple moving average is $58.04.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 EPS 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 the consensus estimate of $9.22 billion. Suncor Energy had a return on equity of 13.96% and a net margin of 12.29%.During the same quarter in the previous year, the company posted $1.31 earnings per share. Analysts anticipate that Suncor Energy will post 7.07 EPS for the current fiscal year.

Suncor Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.1%. Suncor Energy’s dividend payout ratio is presently 45.41%.

Hedge Funds Weigh In On Suncor Energy

Several institutional investors have recently made changes to their positions in the company. Formidable Asset Management LLC lifted its stake in shares of Suncor Energy by 1.1% during the first quarter. Formidable Asset Management LLC now owns 16,004 shares of the oil and gas producer’s stock valued at $1,058,000 after buying an additional 171 shares during the period. Mitchell & Pahl Private Wealth LLC raised its holdings in Suncor Energy by 0.8% in the 1st quarter. Mitchell & Pahl Private Wealth LLC now owns 24,278 shares of the oil and gas producer’s stock valued at $1,605,000 after acquiring an additional 190 shares during the last quarter. IFP Advisors Inc raised its holdings in Suncor Energy by 22.6% in the 4th quarter. IFP Advisors Inc now owns 1,047 shares of the oil and gas producer’s stock valued at $46,000 after acquiring an additional 193 shares during the last quarter. DGS Capital Management LLC boosted its holdings in shares of Suncor Energy by 3.2% during the fourth quarter. DGS Capital Management LLC now owns 6,149 shares of the oil and gas producer’s stock worth $273,000 after purchasing an additional 193 shares during the last quarter. Finally, Bryn Mawr Trust Advisors LLC boosted its holdings in shares of Suncor Energy by 3.5% during the fourth quarter. Bryn Mawr Trust Advisors LLC now owns 5,742 shares of the oil and gas producer’s stock worth $255,000 after purchasing an additional 196 shares during the last quarter. Hedge funds and other institutional investors own 67.37% of the company’s stock.

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.