Suncor Energy Inc. (NYSE:SU) Receives $58.00 Consensus PT from Brokerages

Shares of Suncor Energy Inc. (NYSE:SU - Get Free Report) TSE: SU have received an average rating of "Moderate Buy" from the nine analysts that are covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $58.00.

A number of research analysts recently commented on the company. StockNews.com downgraded Suncor Energy from a "buy" rating to a "hold" rating in a report on Thursday. Morgan Stanley cut Suncor Energy from an "overweight" rating to an "equal weight" rating in a research note on Monday, December 16th. Royal Bank of Canada restated an "outperform" rating and issued a $66.00 price target on shares of Suncor Energy in a research note on Friday, December 20th. Finally, Desjardins upgraded shares of Suncor Energy from a "hold" rating to a "buy" rating in a research note on Thursday, November 14th.

Suncor Energy Stock Up 0.3 %

Shares of Suncor Energy stock traded up $0.10 during trading hours on Friday, hitting $35.26. 3,771,526 shares of the company's stock traded hands, compared to its average volume of 4,302,524. Suncor Energy has a twelve month low of $31.03 and a twelve month high of $41.94. The company has a market cap of $44.36 billion, a PE ratio of 7.68, a PEG ratio of 2.43 and a beta of 1.11. The company has a quick ratio of 1.04, a current ratio of 1.59 and a debt-to-equity ratio of 0.24. The stock has a 50 day simple moving average of $38.29 and a 200-day simple moving average of $38.48.

Suncor Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd were paid a dividend of $0.4089 per share. This is a positive change from Suncor Energy's previous quarterly dividend of $0.40. The ex-dividend date was Tuesday, December 3rd. This represents a $1.64 annualized dividend and a yield of 4.64%. Suncor Energy's payout ratio is presently 36.60%.

Institutional Investors Weigh In On Suncor Energy

Several institutional investors and hedge funds have recently bought and sold shares of the business. Principal Financial Group Inc. grew its stake in Suncor Energy by 23.0% during the 3rd quarter. Principal Financial Group Inc. now owns 6,939,573 shares of the oil and gas producer's stock worth $256,429,000 after buying an additional 1,296,142 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Suncor Energy by 0.8% during the third quarter. Franklin Resources Inc. now owns 3,619,354 shares of the oil and gas producer's stock valued at $146,948,000 after acquiring an additional 29,014 shares during the period. Peapack Gladstone Financial Corp bought a new position in shares of Suncor Energy during the third quarter worth about $206,000. Synovus Financial Corp increased its holdings in shares of Suncor Energy by 11.7% in the 3rd quarter. Synovus Financial Corp now owns 81,371 shares of the oil and gas producer's stock worth $3,004,000 after acquiring an additional 8,519 shares during the period. Finally, Tidal Investments LLC lifted its position in Suncor Energy by 59.6% in the 3rd quarter. Tidal Investments LLC now owns 21,971 shares of the oil and gas producer's stock valued at $811,000 after purchasing an additional 8,207 shares during the last quarter. Institutional investors and hedge funds own 67.37% of the company's stock.

About Suncor Energy

Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.