Brokerages Set Suncor Energy Inc. (NYSE:SU) Price Target at $55.83

Suncor Energy Inc. (NYSE:SU) (TSE:SU) has been given an average rating of “Moderate Buy” by the eight ratings firms that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $55.83.

SU has been the subject of several research reports. TD Securities raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. Wolfe Research initiated coverage on Suncor Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $68.00 price target for the company. BMO Capital Markets upgraded Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Wednesday, August 7th. Scotiabank decreased their target price on Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. Finally, StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a research report on Saturday, September 28th.

Institutional Trading of Suncor Energy

A number of institutional investors have recently modified their holdings of the company. V Square Quantitative Management LLC acquired a new stake in Suncor Energy in the fourth quarter valued at approximately $38,000. Teachers Retirement System of The State of Kentucky purchased a new position in Suncor Energy during the 4th quarter worth $2,804,000. Syon Capital LLC grew its stake in Suncor Energy by 92.3% during the 4th quarter. Syon Capital LLC now owns 21,724 shares of the oil and gas producer’s stock worth $696,000 after buying an additional 10,427 shares during the last quarter. Richardson Financial Services Inc. purchased a new stake in Suncor Energy in the fourth quarter valued at about $25,000. Finally, Fisher Asset Management LLC boosted its holdings in Suncor Energy by 38.4% in the fourth quarter. Fisher Asset Management LLC now owns 7,479 shares of the oil and gas producer’s stock worth $240,000 after acquiring an additional 2,076 shares in the last quarter. 67.37% of the stock is currently owned by institutional investors.

Suncor Energy Stock Up 1.0 %

Shares of NYSE SU opened at $38.65 on Monday. The company has a market cap of $49.53 billion, a P/E ratio of 8.61, a PEG ratio of 2.72 and a beta of 1.12. The firm has a 50-day simple moving average of $39.05 and a two-hundred day simple moving average of $38.72. Suncor Energy has a 1 year low of $29.45 and a 1 year high of $41.94. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.46 and a quick ratio of 0.93.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Tuesday, August 6th. The oil and gas producer reported $1.27 EPS for the quarter, beating the consensus estimate of $0.76 by $0.51. The company had revenue of $12.90 billion for the quarter, compared to the consensus estimate of $9.30 billion. Suncor Energy had a return on equity of 16.22% and a net margin of 14.40%. Suncor Energy’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.71 EPS. Research analysts anticipate that Suncor Energy will post 3.71 earnings per share for the current year.

Suncor Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th were paid a dividend of $0.395 per share. This represents a $1.58 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date of this dividend was Wednesday, September 4th. Suncor Energy’s dividend payout ratio (DPR) is currently 35.86%.

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.