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

Shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) have earned a consensus rating of “Moderate Buy” from the thirteen analysts that are currently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $59.20.

Several brokerages have recently issued reports on SU. Bank of America started coverage on Suncor Energy in a research report on Wednesday, February 26th. They set a “neutral” rating on the stock. Cibc World Mkts upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 11th. Royal Bank of Canada reissued an “outperform” rating and issued a $66.00 price target on shares of Suncor Energy in a report on Tuesday, January 7th. Tudor, Pickering, Holt & Co. raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Monday, February 10th. Finally, Tudor Pickering raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 10th.

Suncor Energy Trading Up 1.1 %

NYSE:SU opened at $35.69 on Friday. The stock has a market cap of $44.01 billion, a price-to-earnings ratio of 10.35, a PEG ratio of 2.94 and a beta of 0.79. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.33. Suncor Energy has a 1 year low of $30.79 and a 1 year high of $41.95. The business has a fifty day moving average of $35.90 and a 200-day moving average of $37.58.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 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%. Equities analysts predict that Suncor Energy will post 3.42 earnings per share for the current year.

Suncor Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 4th were paid a dividend of $0.399 per share. This represents a $1.60 annualized dividend and a yield of 4.47%. The ex-dividend date of this dividend was Tuesday, March 4th. Suncor Energy’s dividend payout ratio (DPR) is currently 45.51%.

Institutional Trading of Suncor Energy

Hedge funds and other institutional investors have recently modified their holdings of the business. Principal Financial Group Inc. grew its holdings in shares of Suncor Energy by 65.0% during the 1st quarter. Principal Financial Group Inc. now owns 16,018,129 shares of the oil and gas producer’s stock valued at $620,136,000 after acquiring an additional 6,311,513 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Suncor Energy by 1,324.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,469,008 shares of the oil and gas producer’s stock valued at $123,774,000 after purchasing an additional 3,225,543 shares in the last quarter. Jupiter Asset Management Ltd. grew its stake in Suncor Energy by 2,061.8% in the fourth quarter. Jupiter Asset Management Ltd. now owns 2,438,291 shares of the oil and gas producer’s stock valued at $86,990,000 after purchasing an additional 2,325,503 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Suncor Energy by 500.4% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,453,314 shares of the oil and gas producer’s stock worth $87,459,000 after purchasing an additional 2,044,680 shares during the last quarter. Finally, Fisher Asset Management LLC raised its stake in shares of Suncor Energy by 97.4% during the 4th quarter. Fisher Asset Management LLC now owns 3,734,572 shares of the oil and gas producer’s stock worth $133,250,000 after purchasing an additional 1,842,791 shares in the last quarter. Institutional investors and hedge funds 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.