Suncor Energy Inc. (NYSE:SU) Given Average Rating of “Moderate Buy” by Brokerages

Suncor Energy Inc. (NYSE:SU) (TSE:SU) has earned a consensus rating of “Moderate Buy” from the eleven brokerages that are presently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $64.67.

A number of equities analysts have recently issued reports on the stock. Bank of America began coverage on shares of Suncor Energy in a research report on Wednesday, February 26th. They set a “neutral” rating on the stock. Wall Street Zen lowered shares of Suncor Energy from a “buy” rating to a “hold” rating in a report on Thursday, April 17th. Finally, Scotiabank upgraded shares of Suncor Energy to a “hold” rating in a report on Wednesday, March 19th.

Institutional Investors Weigh In On Suncor Energy

Large investors have recently bought and sold shares of the company. Jones Financial Companies Lllp increased its stake in Suncor Energy by 86.0% in the fourth quarter. Jones Financial Companies Lllp now owns 67,848 shares of the oil and gas producer’s stock valued at $2,421,000 after purchasing an additional 31,366 shares in the last quarter. Sage Investment Counsel LLC bought a new stake in Suncor Energy in the fourth quarter valued at approximately $300,000. J.W. Cole Advisors Inc. bought a new stake in Suncor Energy in the fourth quarter valued at approximately $236,000. Bank of New York Mellon Corp increased its position in shares of Suncor Energy by 104.2% during the fourth quarter. Bank of New York Mellon Corp now owns 3,083,440 shares of the oil and gas producer’s stock worth $110,017,000 after acquiring an additional 1,573,726 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Suncor Energy by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,457,325 shares of the oil and gas producer’s stock worth $159,030,000 after acquiring an additional 99,669 shares in the last quarter. Institutional investors own 67.37% of the company’s stock.

Suncor Energy Price Performance

Shares of Suncor Energy stock opened at $40.17 on Friday. Suncor Energy has a 1-year low of $30.79 and a 1-year high of $41.95. The firm’s 50-day moving average price is $36.23 and its two-hundred day moving average price is $36.96. The stock has a market capitalization of $49.11 billion, a price-to-earnings ratio of 11.58, a P/E/G ratio of 3.48 and a beta of 0.79. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results on Tuesday, May 6th. The oil and gas producer reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.05. Suncor Energy had a net margin of 11.95% and a return on equity of 14.90%. The company had revenue of $9.10 billion for the quarter, compared to analyst estimates of $13.39 billion. During the same period in the prior year, the business earned $1.41 earnings per share. On average, equities analysts predict that Suncor Energy will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Wednesday, June 4th will be paid a $0.4133 dividend. This represents a $1.65 annualized dividend and a yield of 4.12%. The ex-dividend date of this dividend is Wednesday, June 4th. This is an increase from Suncor Energy’s previous quarterly dividend of $0.40. Suncor Energy’s dividend payout ratio is presently 47.84%.

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.