Suncor Energy Inc. (NYSE:SU) Receives Average Rating of “Moderate Buy” from Brokerages

Suncor Energy Inc. (NYSE:SU) (TSE:SU) has been assigned a consensus rating of “Moderate Buy” from the eleven research firms that are currently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $80.25.

A number of brokerages have weighed in on SU. Wall Street Zen downgraded shares of Suncor Energy from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 1st. Desjardins upgraded shares of Suncor Energy to a “moderate buy” rating in a report on Thursday, July 16th. Weiss Ratings raised shares of Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, July 29th. The Goldman Sachs Group cut shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 target price for the company. in a research note on Friday, June 5th. Finally, Morgan Stanley set a $106.00 target price on Suncor Energy in a research report on Wednesday, August 19th.

Suncor Energy Stock Down 1.4%

Shares of SU stock opened at $65.50 on Monday. Suncor Energy has a 12 month low of $37.76 and a 12 month high of $70.29. The company has a quick ratio of 1.08, a current ratio of 1.65 and a debt-to-equity ratio of 0.19. The firm has a market cap of $77.34 billion, a PE ratio of 12.06, a price-to-earnings-growth ratio of 0.48 and a beta of 0.30. The stock has a 50 day moving average of $61.93 and a 200-day moving average of $62.06.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Tuesday, August 4th. The oil and gas producer reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.19. Suncor Energy had a net margin of 15.62% and a return on equity of 20.05%. The business had revenue of $13.41 billion for the quarter, compared to the consensus estimate of $11.68 billion. During the same quarter last year, the company posted $0.71 earnings per share. On average, equities analysts predict that Suncor Energy will post 7.39 EPS for the current year.

Suncor Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be given a dividend of $0.60 per share. The ex-dividend date is Friday, September 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.7%. Suncor Energy’s payout ratio is currently 32.04%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Versant Capital Management Inc raised its stake in shares of Suncor Energy by 418.9% in the 2nd quarter. Versant Capital Management Inc now owns 493 shares of the oil and gas producer’s stock valued at $26,000 after buying an additional 398 shares in the last quarter. Continuum Advisory LLC acquired a new stake in shares of Suncor Energy during the 2nd quarter valued at about $27,000. 1 North Wealth Services LLC acquired a new stake in shares of Suncor Energy during the 4th quarter valued at about $32,000. Cassaday & Co Wealth Management LLC bought a new stake in Suncor Energy in the first quarter valued at about $53,000. Finally, Headlands Technologies LLC bought a new stake in Suncor Energy in the second quarter valued at about $31,000. 67.37% of the stock is owned by institutional investors.

Suncor Energy Company Profile

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.