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 recommendation of “Buy” by the eight research firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $72.00.

Several research firms have recently weighed in on SU. JPMorgan Chase & Co. raised Suncor Energy from a “neutral” rating to an “overweight” rating and increased their price target for the company from $46.15 to $54.00 in a report on Tuesday, January 20th. Weiss Ratings raised Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 6th. Zacks Research raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 2nd. Royal Bank Of Canada increased their price target on Suncor Energy from $75.00 to $89.00 and gave the company an “outperform” rating in a report on Wednesday, April 1st. Finally, ATB Cormark Capital Markets raised Suncor Energy from a “hold” rating to a “moderate buy” rating in a report on Wednesday, April 1st.

Suncor Energy Price Performance

NYSE SU opened at $68.36 on Friday. The business’s fifty day moving average price is $63.76 and its 200-day moving average price is $53.22. The stock has a market capitalization of $80.71 billion, a price-to-earnings ratio of 17.94 and a beta of 0.31. 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 $34.67 and a 1-year high of $70.29.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share for the quarter, missing the consensus estimate of $1.45 by ($0.04). The firm had revenue of $10.41 billion for the quarter, compared to the consensus estimate 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 previous year, the company earned $1.31 earnings per share. On average, equities analysts predict that Suncor Energy will post 6.79 earnings per share for the current year.

Suncor Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Thursday, June 4th. Suncor Energy’s dividend payout ratio is presently 46.19%.

Institutional Investors Weigh In On Suncor Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. increased its stake in shares of Suncor Energy by 0.6% in the 3rd quarter. Principal Financial Group Inc. now owns 18,854,921 shares of the oil and gas producer’s stock worth $789,213,000 after purchasing an additional 106,765 shares in the last quarter. Swiss Life Asset Management Ltd increased its stake in shares of Suncor Energy by 35.0% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 101,192 shares of the oil and gas producer’s stock worth $4,240,000 after purchasing an additional 26,252 shares in the last quarter. Picton Mahoney Asset Management increased its stake in shares of Suncor Energy by 314.8% in the 3rd quarter. Picton Mahoney Asset Management now owns 627,313 shares of the oil and gas producer’s stock worth $26,246,000 after purchasing an additional 476,077 shares in the last quarter. Intact Investment Management Inc. increased its stake in shares of 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 worth $75,236,000 after purchasing an additional 451,110 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Suncor Energy by 2.1% in the 3rd quarter. American Century Companies Inc. now owns 896,556 shares of the oil and gas producer’s stock worth $37,519,000 after purchasing an additional 18,231 shares in the last quarter. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

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.