Suncor Energy Inc. (NYSE:SU) Stock Has Consensus Target Price of $79.62 According to Analysts

Shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) have received a consensus rating of “Buy” from the twelve ratings firms that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and three have issued a strong buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $79.62.

SU has been the topic of a number of recent research reports. Zacks Research upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. Scotiabank upgraded Suncor Energy to a “strong-buy” rating in a research report on Friday, June 26th. Morgan Stanley set a $106.00 price target on Suncor Energy in a research note on Wednesday, August 19th. Weiss Ratings upgraded shares of Suncor Energy from a “buy (b)” rating to a “buy (a-)” rating in a report on Thursday, October 8th. Finally, Desjardins raised shares of Suncor Energy to a “moderate buy” rating in a research report on Thursday, July 16th.

Suncor Energy Stock Down 0.3%

SU opened at $75.67 on Tuesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.08 and a current ratio of 1.65. The company has a market capitalization of $88.50 billion, a PE ratio of 13.55, a P/E/G ratio of 0.50 and a beta of 0.36. The stock’s fifty day moving average is $68.22 and its 200-day moving average is $64.69. Suncor Energy has a one year low of $37.76 and a one year high of $76.73.

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. The company had revenue of $13.41 billion for the quarter, compared to analysts’ expectations of $11.68 billion. Suncor Energy had a net margin of 15.62% and a return on equity of 20.05%. During the same quarter in the previous year, the company posted $0.71 EPS. On average, equities analysts predict that Suncor Energy will post 8.12 EPS for the current fiscal year.

Suncor Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 4th were given a C$0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Friday, September 4th. Suncor Energy’s dividend payout ratio (DPR) is 31.86%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Suncor Energy in the 2nd quarter worth about $816,551,000. The Manufacturers Life Insurance Company acquired a new stake in Suncor Energy during the 2nd quarter worth about $790,952,000. Arrowstreet Capital Limited Partnership grew its stake in Suncor Energy by 121.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 26,085,360 shares of the oil and gas producer’s stock valued at $1,724,954,000 after acquiring an additional 14,304,131 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in Suncor Energy during the 2nd quarter valued at about $466,810,000. Finally, Bank of America Corp DE purchased a new stake in shares of Suncor Energy in the second quarter worth approximately $351,892,000. Hedge funds and other institutional investors own 67.37% of the company’s stock.

About Suncor Energy

Suncor Energy Inc is an integrated energy company headquartered in Calgary, Alberta. Its operations span the development and production of crude oil from Canada’s oil sands, offshore petroleum production, refining, and the marketing and distribution of petroleum products.

The company produces synthetic crude oil, bitumen and conventional crude oil, which are processed through its refining operations into fuels and other refined products. Suncor markets fuel and convenience products through the Petro-Canada retail network and supplies commercial, wholesale and industrial customers.