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

Shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) have earned a consensus recommendation of “Moderate Buy” from the nine brokerages that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $58.00.

A number of analysts have weighed in on SU shares. 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 Tuesday, January 7th. StockNews.com upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Desjardins upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Finally, Morgan Stanley cut Suncor Energy from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 16th.

Hedge Funds Weigh In On Suncor Energy

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sei Investments Co. boosted its holdings in Suncor Energy by 57.8% in the 2nd quarter. Sei Investments Co. now owns 248,867 shares of the oil and gas producer’s stock valued at $9,482,000 after purchasing an additional 91,163 shares in the last quarter. Gabelli Funds LLC boosted its holdings in Suncor Energy by 8.4% in the 2nd quarter. Gabelli Funds LLC now owns 119,700 shares of the oil and gas producer’s stock valued at $4,561,000 after purchasing an additional 9,300 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Suncor Energy by 184.0% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 179,773 shares of the oil and gas producer’s stock valued at $6,854,000 after purchasing an additional 116,482 shares in the last quarter. Toronto Dominion Bank boosted its holdings in Suncor Energy by 3.4% in the 2nd quarter. Toronto Dominion Bank now owns 18,212,767 shares of the oil and gas producer’s stock valued at $693,906,000 after purchasing an additional 605,833 shares in the last quarter. Finally, Merewether Investment Management LP purchased a new stake in Suncor Energy in the 2nd quarter valued at approximately $42,268,000. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Suncor Energy Stock Up 2.0 %

Suncor Energy stock opened at $39.81 on Wednesday. Suncor Energy has a 1-year low of $31.14 and a 1-year high of $41.94. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 1.04. The stock has a market cap of $49.55 billion, a PE ratio of 8.67, a P/E/G ratio of 3.35 and a beta of 1.12. The stock’s fifty day moving average is $38.08 and its two-hundred day moving average is $38.52.

Suncor Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 24th. Investors of record on Tuesday, December 3rd were issued a dividend of $0.4089 per share. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.11%. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.40. Suncor Energy’s dividend payout ratio (DPR) is currently 35.08%.

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.