Suncor Energy Inc. (NYSE:SU) Receives $63.67 Consensus Price Target from Analysts

Suncor Energy Inc. (NYSE:SU) (TSE:SU) has received an average rating of “Moderate Buy” from the seven analysts that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $63.6667.

A number of analysts have recently weighed in on the stock. Royal Bank Of Canada upped their price target on shares of Suncor Energy from $69.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday, February 5th. The Goldman Sachs Group lifted their price objective on shares of Suncor Energy from $55.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, March 12th. JPMorgan Chase & Co. upgraded 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 research report on Tuesday, January 20th. Wall Street Zen cut Suncor Energy from a “buy” rating to a “hold” rating in a research note on Sunday, December 28th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Suncor Energy in a report on Monday, December 29th.

Suncor Energy Stock Down 0.0%

SU stock opened at $66.65 on Friday. Suncor Energy has a 52 week low of $30.79 and a 52 week high of $66.68. The business has a 50-day simple moving average of $56.56 and a 200 day simple moving average of $47.70. The company has a quick ratio of 0.89, a current ratio of 1.39 and a debt-to-equity ratio of 0.20. The company has a market cap of $79.30 billion, a PE ratio of 19.21 and a beta of 0.42.

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

Suncor Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 25th. Investors of record on Wednesday, March 4th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Wednesday, March 4th. Suncor Energy’s dividend payout ratio is currently 50.72%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Atlantic Edge Private Wealth Management LLC lifted its holdings in shares of Suncor Energy by 54.9% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 635 shares of the oil and gas producer’s stock worth $28,000 after acquiring an additional 225 shares during the last quarter. Richardson Financial Services Inc. grew its holdings in shares of Suncor Energy by 64.1% during the 3rd quarter. Richardson Financial Services Inc. now owns 704 shares of the oil and gas producer’s stock valued at $29,000 after purchasing an additional 275 shares during the last quarter. 1 North Wealth Services LLC bought a new stake in shares of Suncor Energy during the 4th quarter valued at approximately $32,000. Hanson & Doremus Investment Management increased its position in Suncor Energy by 143.5% during the 3rd quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 465 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its position in Suncor Energy by 95.8% during the 3rd quarter. Smartleaf Asset Management LLC now owns 793 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 388 shares in the last quarter. Institutional investors own 67.37% of the company’s stock.

Suncor Energy Company Profile

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.