Brokerages Set Suncor Energy Inc. (NYSE:SU) PT at $52.00

Suncor Energy Inc. (NYSE:SU) (TSE:SU) has been assigned an average rating of “Moderate Buy” from the eight ratings firms that are currently covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $52.00.

A number of analysts recently weighed in on the stock. Morgan Stanley upped their target price on shares of Suncor Energy from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. StockNews.com upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Friday, April 12th.

Hedge Funds Weigh In On Suncor Energy

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Suncor Energy by 1.5% during the third quarter. Vanguard Group Inc. now owns 50,379,614 shares of the oil and gas producer’s stock worth $1,732,051,000 after purchasing an additional 731,163 shares during the period. Ninepoint Partners LP acquired a new stake in shares of Suncor Energy during the third quarter worth $77,355,000. JPMorgan Chase & Co. lifted its holdings in shares of Suncor Energy by 13.3% during the third quarter. JPMorgan Chase & Co. now owns 5,348,348 shares of the oil and gas producer’s stock worth $183,876,000 after purchasing an additional 628,262 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Suncor Energy by 1,689.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 565,339 shares of the oil and gas producer’s stock worth $18,118,000 after purchasing an additional 533,754 shares during the period. Finally, FMR LLC lifted its holdings in shares of Suncor Energy by 0.3% during the third quarter. FMR LLC now owns 17,248,932 shares of the oil and gas producer’s stock worth $593,188,000 after purchasing an additional 49,765 shares during the period. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Suncor Energy Stock Down 0.0 %

Shares of SU opened at $39.43 on Monday. The stock has a market capitalization of $50.76 billion, a PE ratio of 8.39, a P/E/G ratio of 3.46 and a beta of 1.13. Suncor Energy has a 1 year low of $27.59 and a 1 year high of $39.63. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.88 and a current ratio of 1.44. The company’s 50-day simple moving average is $36.44 and its 200-day simple moving average is $33.90.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings results on Wednesday, February 21st. The oil and gas producer reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.13. The business had revenue of $10.39 billion for the quarter, compared to analysts’ expectations of $8.46 billion. Suncor Energy had a net margin of 16.33% and a return on equity of 16.08%. During the same quarter in the prior year, the company earned $1.33 earnings per share. Analysts forecast that Suncor Energy will post 3.78 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Monday, March 4th were given a dividend of $0.406 per share. The ex-dividend date was Friday, March 1st. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.39. This represents a $1.62 dividend on an annualized basis and a dividend yield of 4.12%. Suncor Energy’s dividend payout ratio (DPR) is 34.26%.

Suncor Energy Company Profile

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.