Suncor Energy Inc. (NYSE:SU) Receives $58.00 Average Target Price from Analysts

Suncor Energy Inc. (NYSE:SU) (TSE:SU) has been assigned an average recommendation of “Moderate Buy” from the nine ratings firms that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $58.00.

A number of equities analysts recently commented on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $66.00 price objective on shares of Suncor Energy in a research note on Tuesday, January 7th. Morgan Stanley downgraded shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 16th. StockNews.com upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th. Finally, Desjardins raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th.

Suncor Energy Stock Down 1.2 %

Shares of SU opened at $38.93 on Wednesday. The stock’s 50-day moving average price is $38.05 and its two-hundred day moving average price is $38.55. Suncor Energy has a 12 month low of $31.25 and a 12 month high of $41.94. The company has a market capitalization of $48.45 billion, a PE ratio of 8.48, a PEG ratio of 3.29 and a beta of 1.12. The company has a current ratio of 1.59, a quick ratio of 1.04 and a debt-to-equity ratio of 0.24.

Suncor Energy Increases Dividend

The company also recently declared 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 is an increase from Suncor Energy’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date was Tuesday, December 3rd. Suncor Energy’s dividend payout ratio is 35.08%.

Hedge Funds Weigh In On Suncor Energy

A number of large investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company increased its holdings in Suncor Energy by 5.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,134,149 shares of the oil and gas producer’s stock worth $956,850,000 after purchasing an additional 1,209,073 shares in the last quarter. Toronto Dominion Bank grew its holdings in Suncor Energy by 1.8% during the third quarter. Toronto Dominion Bank now owns 18,546,207 shares of the oil and gas producer’s stock worth $684,726,000 after buying an additional 333,440 shares in the last quarter. CIBC Asset Management Inc raised its position in Suncor Energy by 1.3% in the 3rd quarter. CIBC Asset Management Inc now owns 13,942,455 shares of the oil and gas producer’s stock valued at $516,728,000 after buying an additional 180,533 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Suncor Energy by 23.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,695,560 shares of the oil and gas producer’s stock valued at $357,827,000 after buying an additional 1,829,936 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in Suncor Energy by 4.5% during the 2nd quarter. Legal & General Group Plc now owns 7,643,418 shares of the oil and gas producer’s stock valued at $291,308,000 after acquiring an additional 329,373 shares in the last quarter. 67.37% of the stock is currently owned by institutional investors.

About Suncor Energy

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.