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

Shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) have earned a consensus rating of “Moderate Buy” from the nine ratings firms that are presently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $71.6667.

Several brokerages recently commented on SU. Wall Street Zen lowered Suncor Energy from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 7th. Scotiabank upgraded Suncor Energy to a “strong-buy” rating in a report on Friday, June 26th. Royal Bank Of Canada increased their price target on Suncor Energy from $75.00 to $89.00 and gave the stock an “outperform” rating in a report on Wednesday, April 1st. Weiss Ratings upgraded Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, June 26th. Finally, ATB Cormark Capital Markets raised shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, April 1st.

Suncor Energy Price Performance

SU stock opened at $55.02 on Friday. The firm has a market cap of $64.96 billion, a price-to-earnings ratio of 14.44 and a beta of 0.30. The company has a quick ratio of 0.92, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. Suncor Energy has a 12-month low of $37.55 and a 12-month high of $70.29. The company’s fifty day simple moving average is $62.34 and its 200 day simple moving average is $57.52.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 EPS for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. The firm had revenue of $10.41 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same period last year, the company posted $1.31 EPS. On average, analysts expect that Suncor Energy will post 7.07 earnings per share for the current year.

Suncor Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 4th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $2.40 annualized dividend and a yield of 4.4%. Suncor Energy’s dividend payout ratio is currently 45.41%.

Institutional Investors Weigh In On Suncor Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Versant Capital Management Inc grew 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 during the period. Eastern Bank raised its stake in Suncor Energy by 51.7% during the 2nd quarter. Eastern Bank now owns 1,024 shares of the oil and gas producer’s stock worth $55,000 after buying an additional 349 shares during the period. Sapient Capital LLC acquired a new position in Suncor Energy during the 1st quarter worth approximately $269,000. Rathbones Group PLC boosted its holdings in Suncor Energy by 15.3% in the first quarter. Rathbones Group PLC now owns 12,046 shares of the oil and gas producer’s stock worth $794,000 after acquiring an additional 1,596 shares in the last quarter. Finally, Parallel Advisors LLC boosted its holdings in Suncor Energy by 8.4% in the first quarter. Parallel Advisors LLC now owns 9,343 shares of the oil and gas producer’s stock worth $618,000 after acquiring an additional 721 shares in the last quarter. 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.