Analysts Set Suncor Energy Inc. (NYSE:SU) Price Target at $58.00

Shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) have been given an average rating of “Moderate Buy” by the nine brokerages that are covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $58.00.

Several research analysts have recently weighed in on the company. Morgan Stanley downgraded Suncor Energy from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 16th. Desjardins upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Royal Bank of Canada reiterated an “outperform” rating and issued a $66.00 price objective on shares of Suncor Energy in a research note on Friday, December 20th. Finally, StockNews.com downgraded Suncor Energy from a “buy” rating to a “hold” rating in a research report on Thursday, December 26th.

Suncor Energy Price Performance

Suncor Energy stock opened at $35.68 on Friday. The company has a current ratio of 1.59, a quick ratio of 1.04 and a debt-to-equity ratio of 0.24. The business’s 50 day simple moving average is $38.09 and its 200 day simple moving average is $38.44. Suncor Energy has a 12 month low of $31.03 and a 12 month high of $41.94. The company has a market cap of $44.89 billion, a price-to-earnings ratio of 7.77, a PEG ratio of 2.43 and a beta of 1.11.

Suncor Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 24th. Investors of record on Tuesday, December 3rd were given a dividend of $0.4089 per share. This represents a $1.64 annualized dividend and a yield of 4.58%. This is a boost from Suncor Energy’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Tuesday, December 3rd. Suncor Energy’s payout ratio is presently 36.60%.

Institutional Investors Weigh In On Suncor Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. Eastern Bank bought a new stake in shares of Suncor Energy in the 3rd quarter worth approximately $25,000. Richardson Financial Services Inc. raised its holdings in shares of Suncor Energy by 82.8% during the second quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer’s stock valued at $28,000 after acquiring an additional 328 shares in the last quarter. Waldron Private Wealth LLC bought a new position in Suncor Energy in the 3rd quarter worth $49,000. Transamerica Financial Advisors Inc. lifted its holdings in Suncor Energy by 2,311.0% in the third quarter. Transamerica Financial Advisors Inc. now owns 1,977 shares of the oil and gas producer’s stock worth $73,000 after buying an additional 1,895 shares during the period. Finally, Mattson Financial Services LLC bought a new stake in shares of Suncor Energy during the second quarter valued at approximately $82,000. 67.37% of the stock is owned by hedge funds and other institutional investors.

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.