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

Suncor Energy Inc. (NYSE:SU) (TSE:SU) has been given a consensus rating of “Moderate Buy” by the twelve analysts that are covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $58.00.

SU has been the topic of a number of recent analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $66.00 price target on shares of Suncor Energy in a report on Tuesday, January 7th. Morgan Stanley downgraded shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a report on Monday, December 16th. Tudor Pickering raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, February 10th. StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Tuesday, January 14th. Finally, Cibc World Mkts raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 11th.

Suncor Energy Stock Down 1.8 %

NYSE:SU opened at $39.46 on Friday. The firm has a market capitalization of $49.11 billion, a P/E ratio of 11.44, a PEG ratio of 2.94 and a beta of 1.12. Suncor Energy has a 1-year low of $33.26 and a 1-year high of $41.94. The company’s fifty day moving average price is $37.95 and its 200-day moving average price is $38.67. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.33 and a quick ratio of 0.86.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.07. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. As a group, equities research analysts anticipate that Suncor Energy will post 3.42 EPS for the current year.

Suncor Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 4th will be issued a dividend of $0.399 per share. This represents a $1.60 annualized dividend and a yield of 4.04%. The ex-dividend date is Tuesday, March 4th. Suncor Energy’s payout ratio is 46.67%.

Hedge Funds Weigh In On Suncor Energy

Hedge funds and other institutional investors have recently modified their holdings of the business. Eastern Bank purchased a new position in shares of Suncor Energy in the third quarter worth about $25,000. HHM Wealth Advisors LLC lifted its stake in shares of Suncor Energy by 62.1% in the fourth quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer’s stock worth $30,000 after buying an additional 325 shares in the last quarter. Crowley Wealth Management Inc. purchased a new position in shares of Suncor Energy in the fourth quarter worth about $35,000. Lee Danner & Bass Inc. purchased a new position in shares of Suncor Energy in the fourth quarter worth about $36,000. Finally, Golden State Wealth Management LLC purchased a new position in shares of Suncor Energy in the fourth quarter worth about $39,000. 67.37% of the stock is owned by hedge funds and other institutional investors.

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.