Suncor Energy Inc. (NYSE:SU) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Suncor Energy Inc. (NYSE:SU) (TSE:SU) has earned an average rating of “Moderate Buy” from the eight brokerages that are currently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $61.00.

SU has been the topic of several recent research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Suncor Energy in a research report on Monday, December 29th. JPMorgan Chase & Co. raised shares of Suncor Energy from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $46.15 to $54.00 in a research report on Tuesday, January 20th. Wall Street Zen lowered shares of Suncor Energy from a “buy” rating to a “hold” rating in a research note on Sunday, December 28th. Royal Bank Of Canada lifted their price objective on shares of Suncor Energy from $69.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. Finally, Zacks Research cut shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 20th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Atlantic Edge Private Wealth Management LLC boosted its position in Suncor Energy by 54.9% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 635 shares of the oil and gas producer’s stock worth $28,000 after purchasing an additional 225 shares during the period. Richardson Financial Services Inc. grew its holdings in Suncor Energy by 64.1% during the third quarter. Richardson Financial Services Inc. now owns 704 shares of the oil and gas producer’s stock valued at $29,000 after purchasing an additional 275 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Suncor Energy in the second quarter valued at approximately $31,000. 1 North Wealth Services LLC bought a new position in shares of Suncor Energy in the fourth quarter valued at approximately $32,000. Finally, Hanson & Doremus Investment Management lifted its stake in shares of Suncor Energy by 143.5% in the third quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer’s stock worth $33,000 after buying an additional 465 shares during the last quarter. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Stock Performance

Shares of NYSE SU opened at $56.87 on Monday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.39 and a quick ratio of 0.89. Suncor Energy has a one year low of $30.79 and a one year high of $58.63. The business’s 50-day moving average price is $51.89 and its two-hundred day moving average price is $45.37. The company has a market capitalization of $67.67 billion, a P/E ratio of 16.39 and a beta of 0.43.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings results on Tuesday, February 3rd. The oil and gas producer reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.02. The company had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.79 billion. Suncor Energy had a return on equity of 12.51% and a net margin of 11.99%.During the same period last year, the business earned $1.25 EPS. Analysts anticipate that Suncor Energy will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 4th will be given a $0.60 dividend. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.2%. Suncor Energy’s payout ratio is currently 50.72%.

About Suncor Energy

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.