Suncor Energy Inc. (SU) Given Average Rating of “Buy” by Brokerages
Shares of Suncor Energy Inc. (TSE:SU) (NYSE:SU) have been assigned a consensus recommendation of “Buy” from the fourteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is C$48.92.
SU has been the subject of a number of recent analyst reports. National Bank Financial set a C$51.00 price objective on Suncor Energy and gave the company an “outperform” rating in a research report on Tuesday, June 27th. TD Securities lowered their price objective on Suncor Energy from C$46.00 to C$45.00 and set a “buy” rating for the company in a research report on Thursday, July 27th. Barclays PLC lifted their price objective on Suncor Energy from C$47.00 to C$49.00 in a research report on Tuesday, October 10th. J P Morgan Chase & Co lifted their price objective on Suncor Energy from C$39.00 to C$42.00 in a research report on Thursday, September 14th. Finally, AltaCorp Capital downgraded Suncor Energy from an “outperform” rating to a “sector perform” rating in a research report on Friday, July 28th.
Suncor Energy (SU) traded up 0.26% during trading on Friday, reaching $42.06. The company’s stock had a trading volume of 2,130,637 shares. The company has a 50 day moving average price of $42.00 and a 200-day moving average price of $40.85. Suncor Energy has a 52 week low of $36.09 and a 52 week high of $44.90. The company has a market capitalization of $69.79 billion and a PE ratio of 26.03.
Suncor Energy (TSE:SU) (NYSE:SU) last released its quarterly earnings results on Wednesday, July 26th. The company reported C$0.12 earnings per share for the quarter, missing the consensus estimate of C$0.23 by C($0.11). The company had revenue of C$7.26 billion for the quarter, compared to analysts’ expectations of C$7.41 billion. Suncor Energy had a return on equity of 3.86% and a net margin of 6.00%. Equities research analysts anticipate that Suncor Energy will post $1.33 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, September 25th. Investors of record on Tuesday, September 5th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date was Friday, September 1st.
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In other news, insider Steven Walter Williams bought 1,000 shares of Suncor Energy stock in a transaction that occurred on Wednesday, September 6th. The shares were purchased at an average price of C$39.39 per share, for a total transaction of C$39,390.00. Also, insider Michael Roderick Macsween sold 20,000 shares of Suncor Energy stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of C$43.00, for a total value of C$860,000.00.
About Suncor Energy
Suncor Energy Inc (Suncor) is an integrated energy company. The Company is focused on developing Canada’s petroleum resource basin, Athabasca oil sands. The Company operates in three business segments: Oil Sands, Exploration and Production (E&P), and Refining and Marketing. The Company’s Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations.
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