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

Suncor Energy Inc. (NYSE:SU) (TSE:SU) has earned a consensus recommendation of “Moderate Buy” from the nine brokerages that are presently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $58.00.

A number of equities research analysts have recently issued reports on SU shares. Desjardins raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. StockNews.com cut Suncor Energy from a “buy” rating to a “hold” rating in a research report on Thursday, December 26th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $66.00 price objective on shares of Suncor Energy in a research report on Friday, December 20th. Finally, Morgan Stanley lowered shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a report on Monday, December 16th.

Suncor Energy Stock Performance

SU opened at $36.43 on Friday. 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 $45.84 billion, a price-to-earnings ratio of 7.94, a PEG ratio of 2.43 and a beta of 1.11. 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 company’s 50 day moving average is $38.04 and its 200 day moving average is $38.43.

Suncor Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 24th. Investors of record on Tuesday, December 3rd were paid a dividend of $0.4089 per share. This represents a $1.64 annualized dividend and a yield of 4.49%. 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 dividend payout ratio (DPR) is presently 36.60%.

Hedge Funds Weigh In On Suncor Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Eastern Bank bought a new stake in shares of Suncor Energy in the 3rd quarter worth about $25,000. Richardson Financial Services Inc. grew its position in Suncor Energy by 82.8% in the second quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer’s stock worth $28,000 after acquiring an additional 328 shares in the last quarter. Waldron Private Wealth LLC purchased a new stake in Suncor Energy during the third quarter valued at approximately $49,000. Transamerica Financial Advisors Inc. lifted its stake in shares of Suncor Energy by 2,311.0% in the 3rd quarter. Transamerica Financial Advisors Inc. now owns 1,977 shares of the oil and gas producer’s stock valued at $73,000 after purchasing an additional 1,895 shares during the last quarter. Finally, Mattson Financial Services LLC purchased a new position in shares of Suncor Energy in the 2nd quarter worth approximately $82,000. 67.37% of the stock is owned by 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.