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

Shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) have received a consensus recommendation of “Moderate Buy” from the eight analysts that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $55.83.

SU has been the subject of several recent research reports. Wolfe Research started coverage on Suncor Energy in a report on Thursday, July 18th. They set an “outperform” rating and a $68.00 price target for the company. Scotiabank dropped their target price on shares of 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. StockNews.com cut Suncor Energy from a “buy” rating to a “hold” rating in a report on Thursday. TD Securities raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. Finally, BMO Capital Markets raised Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 7th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. BNP Paribas Financial Markets lifted its holdings in Suncor Energy by 2,358.4% in the 1st quarter. BNP Paribas Financial Markets now owns 17,209 shares of the oil and gas producer’s stock valued at $635,000 after purchasing an additional 16,509 shares in the last quarter. Empowered Funds LLC purchased a new position in shares of Suncor Energy during the 1st quarter worth approximately $2,940,000. Assenagon Asset Management S.A. grew its stake in shares of Suncor Energy by 90.9% in the second quarter. Assenagon Asset Management S.A. now owns 8,299,876 shares of the oil and gas producer’s stock valued at $316,226,000 after buying an additional 3,951,287 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Suncor Energy by 5.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,529,253 shares of the oil and gas producer’s stock valued at $683,916,000 after acquiring an additional 1,031,542 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its stake in Suncor Energy by 56.6% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 55,636 shares of the oil and gas producer’s stock worth $2,054,000 after buying an additional 20,101 shares during the period. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Price Performance

Shares of NYSE SU opened at $39.11 on Monday. The company has a 50 day simple moving average of $39.03 and a two-hundred day simple moving average of $38.73. The company has a market capitalization of $49.34 billion, a price-to-earnings ratio of 9.07, a P/E/G ratio of 2.69 and a beta of 1.12. Suncor Energy has a fifty-two week low of $29.45 and a fifty-two week high of $41.94. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.93 and a current ratio of 1.46.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings results on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.51. The firm 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%. The company’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.71 earnings per share. Analysts expect that Suncor Energy will post 3.71 EPS for the current fiscal year.

Suncor Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th were paid a dividend of $0.395 per share. The ex-dividend date was Wednesday, September 4th. This represents a $1.58 dividend on an annualized basis and a dividend yield of 4.04%. Suncor Energy’s payout ratio is currently 37.59%.

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.