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


Shares of Suncor Energy Inc. (NYSE:SU – Get Rating) (TSE:SU) have received an average recommendation of “Moderate Buy” from the eighteen brokerages that are presently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $50.67.

A number of brokerages recently commented on SU. The Goldman Sachs Group upped their price target on shares of Suncor Energy from $38.00 to $43.00 and gave the company a “buy” rating in a research note on Friday, May 20th. Scotiabank upped their price target on shares of Suncor Energy from C$46.00 to C$57.00 in a research note on Wednesday, June 8th. TD Securities upped their price target on shares of Suncor Energy from C$51.00 to C$53.00 in a research note on Tuesday, May 10th. Credit Suisse Group increased their target price on shares of Suncor Energy from C$58.00 to C$63.00 and gave the stock an “outperform” rating in a research report on Thursday, June 9th. Finally, National Bank Financial decreased their target price on shares of Suncor Energy from C$73.00 to C$64.00 in a research report on Monday, July 18th.

Suncor Energy Stock Down 1.8%

Shares of SU opened at $30.82 on Friday. Suncor Energy has a 52 week low of $17.10 and a 52 week high of $42.72. The firm has a market cap of $42.54 billion, a P/E ratio of 9.01, a price-to-earnings-growth ratio of 0.49 and a beta of 1.35. The firm’s 50-day simple moving average is $36.35 and its 200 day simple moving average is $33.07. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.75 and a current ratio of 1.18.

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Suncor Energy (NYSE:SU – Get Rating) (TSE:SU) last announced its quarterly earnings results on Monday, May 9th. The oil and gas producer reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.21. Suncor Energy had a net margin of 14.18% and a return on equity of 15.69%. The business had revenue of $10.65 billion for the quarter, compared to analyst estimates of $9.18 billion. On average, analysts forecast that Suncor Energy will post 6.25 earnings per share for the current year.

Suncor Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 24th. Investors of record on Friday, June 3rd were given a dividend of $0.3623 per share. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Thursday, June 2nd. This represents a $1.45 annualized dividend and a dividend yield of 4.70%. Suncor Energy’s dividend payout ratio (DPR) is currently 43.57%.

Institutional Trading of Suncor Energy

Several large investors have recently made changes to their positions in SU. Elliott Investment Management LP bought a new position in Suncor Energy in the 1st quarter valued at approximately $326,135,000. Arrowstreet Capital Limited Partnership lifted its stake in Suncor Energy by 79.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 16,823,815 shares of the oil and gas producer’s stock valued at $548,183,000 after purchasing an additional 7,438,559 shares during the last quarter. Invesco Ltd. lifted its stake in Suncor Energy by 61.9% in the 1st quarter. Invesco Ltd. Now owns 16,007,845 shares of the oil and gas producer’s stock valued at $521,695,000 after purchasing an additional 6,121,599 shares during the last quarter. Royal London Asset Management Ltd. bought a new position in Suncor Energy in the 1st quarter valued at approximately $204,761,000. Finally, Soroban Capital Partners LP bought a new position in Suncor Energy in the 4th quarter valued at approximately $110,774,000. Institutional investors and hedge funds own 58.48% of the company’s stock.

About Suncor Energy

(Get Rating)

Suncor Energy Inc operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada’s Athabasca oil sands; explores, acquires, develops, produces, transports, refines, and markets crude oil in Canada and internationally; markets petroleum and petrochemical products under the Petro-Canada name primarily in Canada.

Further Reading

Analyst Recommendations for Suncor Energy (NYSE:SU)

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