Brokerages Set Suncor Energy Inc. (NYSE:SU) Price Target at $59.20

Suncor Energy Inc. (NYSE:SU - Get Free Report) TSE: SU has earned an average recommendation of "Moderate Buy" from the thirteen research firms that are covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $59.20.

Several equities analysts have recently commented on SU shares. Royal Bank of Canada reaffirmed an "outperform" rating and set a $66.00 price target on shares of Suncor Energy in a research report on Tuesday, January 7th. Cibc World Mkts upgraded Suncor Energy from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, February 11th. Tudor, Pickering, Holt & Co. upgraded Suncor Energy from a "hold" rating to a "buy" rating in a report on Monday, February 10th. Bank of America assumed coverage on Suncor Energy in a research note on Wednesday, February 26th. They set a "neutral" rating on the stock. Finally, Tudor Pickering upgraded shares of Suncor Energy from a "hold" rating to a "strong-buy" rating in a research note on Monday, February 10th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. HHM Wealth Advisors LLC raised its holdings in shares of Suncor Energy by 62.1% during the fourth quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer's stock valued at $30,000 after buying an additional 325 shares during the last quarter. Crowley Wealth Management Inc. bought a new stake in Suncor Energy during the 4th quarter valued at $35,000. Lee Danner & Bass Inc. acquired a new position in Suncor Energy during the 4th quarter worth $36,000. Golden State Wealth Management LLC bought a new position in shares of Suncor Energy in the fourth quarter worth $39,000. Finally, Covestor Ltd increased its holdings in shares of Suncor Energy by 30.5% during the fourth quarter. Covestor Ltd now owns 1,095 shares of the oil and gas producer's stock valued at $39,000 after purchasing an additional 256 shares during the period. 67.37% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Suncor Energy Stock Up 3.9 %

Shares of SU traded up $1.27 during trading on Monday, reaching $33.48. The company's stock had a trading volume of 6,236,798 shares, compared to its average volume of 4,495,517. The company has a market cap of $41.42 billion, a price-to-earnings ratio of 9.70, a P/E/G ratio of 2.94 and a beta of 0.79. The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 0.21. The company has a fifty day moving average of $37.20 and a two-hundred day moving average of $37.97. Suncor Energy has a twelve month low of $30.79 and a twelve month high of $41.95.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last posted its quarterly earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.07. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. On average, sell-side analysts predict that Suncor Energy will post 3.42 EPS for the current fiscal year.

Suncor Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 4th were issued a $0.399 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.77%. Suncor Energy's dividend payout ratio (DPR) is presently 45.51%.

Suncor Energy Company Profile

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.