Analysts Set Suncor Energy Inc. (NYSE:SU) Target Price at $58.00

Shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) have earned a consensus recommendation of “Moderate Buy” from the nine research firms that are currently covering the company, 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 1-year price objective among brokerages that have issued ratings on the stock in the last year is $58.00.

A number of brokerages have recently weighed in on SU. Royal Bank of Canada reaffirmed an “outperform” rating and set a $66.00 target price on shares of Suncor Energy in a research note on Friday, December 20th. StockNews.com downgraded Suncor Energy from a “buy” rating to a “hold” rating in a report on Thursday, December 26th. Morgan Stanley lowered Suncor Energy from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 16th. Finally, Desjardins upgraded Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, November 14th.

Suncor Energy Stock Performance

Shares of SU stock opened at $36.43 on Friday. 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 fifty day moving average of $38.04 and a 200 day moving average of $38.43. The firm has a market capitalization of $45.84 billion, a price-to-earnings ratio of 7.94, a PEG ratio of 2.43 and a beta of 1.11. Suncor Energy has a 52 week low of $31.03 and a 52 week high of $41.94.

Suncor Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd were issued a $0.4089 dividend. The ex-dividend date was Tuesday, December 3rd. This is a boost from Suncor Energy’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a yield of 4.49%. Suncor Energy’s payout ratio is 36.60%.

Institutional Investors Weigh In On Suncor Energy

Several institutional investors and hedge funds have recently made changes to their positions in the company. Cullen Investment Group LTD. lifted its stake in Suncor Energy by 0.8% during the 3rd quarter. Cullen Investment Group LTD. now owns 33,106 shares of the oil and gas producer’s stock valued at $1,222,000 after acquiring an additional 262 shares during the period. Richardson Financial Services Inc. boosted its holdings in Suncor Energy by 82.8% in the second quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer’s stock worth $28,000 after purchasing an additional 328 shares during the last quarter. Coldstream Capital Management Inc. grew its position in Suncor Energy by 5.0% in the 3rd quarter. Coldstream Capital Management Inc. now owns 7,486 shares of the oil and gas producer’s stock worth $276,000 after purchasing an additional 354 shares during the period. X Square Capital LLC raised its stake in Suncor Energy by 0.5% during the 2nd quarter. X Square Capital LLC now owns 79,664 shares of the oil and gas producer’s stock valued at $3,035,000 after buying an additional 388 shares during the last quarter. Finally, Signaturefd LLC lifted its holdings in shares of Suncor Energy by 1.5% during the 2nd quarter. Signaturefd LLC now owns 26,530 shares of the oil and gas producer’s stock valued at $1,011,000 after buying an additional 402 shares during the period. Institutional investors 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.