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

Suncor Energy Inc. (NYSE:SU) (TSE:SU) has been assigned an average recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $80.25.

A number of brokerages recently weighed in on SU. Desjardins upgraded shares of Suncor Energy to a “moderate buy” rating in a report on Thursday, July 16th. The Goldman Sachs Group cut shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price target for the company. in a research note on Friday, June 5th. Weiss Ratings raised shares of Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, July 29th. Scotiabank upgraded shares of Suncor Energy to a “strong-buy” rating in a research note on Friday, June 26th. Finally, Zacks Research cut shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th.

Institutional Trading of Suncor Energy

A number of hedge funds have recently made changes to their positions in SU. Intact Investment Management Inc. grew its holdings in Suncor Energy by 36.3% in the 4th quarter. Intact Investment Management Inc. now owns 1,695,160 shares of the oil and gas producer’s stock valued at $75,236,000 after buying an additional 451,110 shares in the last quarter. Vanguard Group Inc. increased its position in Suncor Energy by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 55,720,921 shares of the oil and gas producer’s stock worth $2,473,173,000 after buying an additional 1,166,405 shares during the period. Harvest Portfolios Group Inc. lifted its holdings in shares of Suncor Energy by 9.1% during the fourth quarter. Harvest Portfolios Group Inc. now owns 360,668 shares of the oil and gas producer’s stock worth $16,008,000 after buying an additional 30,210 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Suncor Energy by 3.4% during the first quarter. Dimensional Fund Advisors LP now owns 12,609,777 shares of the oil and gas producer’s stock worth $833,622,000 after buying an additional 411,243 shares in the last quarter. Finally, Public Employees Retirement System of Ohio boosted its position in shares of Suncor Energy by 6.3% in the first quarter. Public Employees Retirement System of Ohio now owns 846,111 shares of the oil and gas producer’s stock valued at $55,802,000 after acquiring an additional 50,502 shares during the period. 67.37% of the stock is owned by institutional investors and hedge funds.

Suncor Energy Stock Up 0.1%

NYSE:SU opened at $68.46 on Monday. The firm has a market capitalization of $80.83 billion, a price-to-earnings ratio of 12.61, a price-to-earnings-growth ratio of 0.49 and a beta of 0.29. Suncor Energy has a twelve month low of $37.76 and a twelve month high of $70.29. The stock’s 50 day moving average price is $61.02 and its two-hundred day moving average price is $61.67. The company has a quick ratio of 1.08, a current ratio of 1.65 and a debt-to-equity ratio of 0.19.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Tuesday, August 4th. The oil and gas producer reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.19. The company had revenue of $13.41 billion for the quarter, compared to analysts’ expectations of $11.68 billion. Suncor Energy had a return on equity of 20.05% and a net margin of 15.62%.During the same quarter in the prior year, the business posted $0.71 EPS. Equities research analysts expect that Suncor Energy will post 7.39 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 Friday, September 25th. Shareholders of record on Friday, September 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 3.5%. The ex-dividend date of this dividend is Friday, September 4th. Suncor Energy’s payout ratio is 32.04%.

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.