Suncor Energy Inc. (NYSE:SU) Receives $57.67 Consensus Price Target from Brokerages

Shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) have received an average recommendation of “Moderate Buy” from the eleven ratings firms that are currently covering the company, MarketBeat reports. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $61.00.

A number of analysts have issued reports on the stock. JPMorgan Chase & Co. raised shares of Suncor Energy from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $46.15 to $54.00 in a report on Tuesday, January 20th. Raymond James Financial upgraded shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Suncor Energy in a research report on Monday, December 29th. Royal Bank Of Canada lifted their price objective on Suncor Energy from $69.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday. Finally, The Goldman Sachs Group upped their target price on Suncor Energy from $48.00 to $54.00 and gave the company a “buy” rating in a research report on Friday, January 23rd.

Suncor Energy Price Performance

Suncor Energy stock opened at $53.82 on Thursday. The company has a market capitalization of $64.24 billion, a price-to-earnings ratio of 15.51 and a beta of 0.46. The stock’s 50 day moving average is $46.89 and its 200-day moving average is $43.05. The company has a current ratio of 1.39, a quick ratio of 0.85 and a debt-to-equity ratio of 0.20. Suncor Energy has a 12 month low of $30.79 and a 12 month high of $55.30.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings data on Tuesday, February 3rd. The oil and gas producer reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.02. The firm had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.79 billion. Suncor Energy had a return on equity of 12.51% and a net margin of 11.99%.During the same period in the prior year, the firm posted $1.25 EPS. Equities research analysts expect that Suncor Energy will post 3.42 EPS for the current year.

Suncor Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Wednesday, March 4th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a $2.40 annualized dividend and a yield of 4.5%. Suncor Energy’s dividend payout ratio is currently 49.57%.

Hedge Funds Weigh In On Suncor Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC increased its stake in Suncor Energy by 14.2% in the first quarter. AQR Capital Management LLC now owns 25,015 shares of the oil and gas producer’s stock valued at $959,000 after acquiring an additional 3,115 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in shares of Suncor Energy by 172.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,981 shares of the oil and gas producer’s stock valued at $77,000 after purchasing an additional 1,254 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Suncor Energy by 3.1% in the 2nd quarter. Janney Montgomery Scott LLC now owns 36,328 shares of the oil and gas producer’s stock valued at $1,360,000 after purchasing an additional 1,076 shares during the last quarter. Truist Financial Corp raised its holdings in shares of Suncor Energy by 1.8% during the 2nd quarter. Truist Financial Corp now owns 51,441 shares of the oil and gas producer’s stock worth $1,926,000 after buying an additional 886 shares in the last quarter. Finally, Ascent Group LLC boosted its stake in Suncor Energy by 4.7% in the second quarter. Ascent Group LLC now owns 5,769 shares of the oil and gas producer’s stock valued at $216,000 after buying an additional 260 shares in the last quarter. 67.37% of the stock is currently owned by institutional investors and hedge funds.

About Suncor Energy

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company’s operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.