Suncor Energy Inc. (NYSE:SU) Receives $64.67 Consensus Price Target from Brokerages

Suncor Energy Inc. (NYSE:SU) (TSE:SU) has received a consensus rating of “Moderate Buy” from the eleven research firms that are presently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $64.67.

SU has been the topic of several research analyst reports. Bank of America assumed coverage on Suncor Energy in a research report on Wednesday, February 26th. They set a “neutral” rating on the stock. Scotiabank raised Suncor Energy to a “hold” rating in a report on Wednesday, March 19th. Finally, Wall Street Zen lowered Suncor Energy from a “buy” rating to a “hold” rating in a report on Thursday, April 17th.

Institutional Trading of Suncor Energy

A number of institutional investors have recently bought and sold shares of SU. Rhumbline Advisers increased its stake in Suncor Energy by 92.2% during the fourth quarter. Rhumbline Advisers now owns 5,805 shares of the oil and gas producer’s stock worth $207,000 after acquiring an additional 2,784 shares during the last quarter. Principal Securities Inc. lifted its holdings in shares of Suncor Energy by 2.2% in the 4th quarter. Principal Securities Inc. now owns 12,423 shares of the oil and gas producer’s stock worth $443,000 after purchasing an additional 265 shares during the last quarter. Allworth Financial LP raised its stake in Suncor Energy by 35.4% during the 4th quarter. Allworth Financial LP now owns 1,900 shares of the oil and gas producer’s stock valued at $75,000 after acquiring an additional 497 shares in the last quarter. J.W. Cole Advisors Inc. bought a new stake in Suncor Energy during the 4th quarter valued at $236,000. Finally, Truist Financial Corp raised its stake in Suncor Energy by 3.2% during the 4th quarter. Truist Financial Corp now owns 46,403 shares of the oil and gas producer’s stock valued at $1,656,000 after acquiring an additional 1,449 shares in the last quarter. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Suncor Energy Stock Performance

Shares of SU opened at $38.99 on Friday. The stock has a 50-day simple moving average of $36.34 and a 200-day simple moving average of $36.94. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.39. The stock has a market capitalization of $47.68 billion, a PE ratio of 11.24, a PEG ratio of 3.49 and a beta of 0.79. Suncor Energy has a 1 year low of $30.79 and a 1 year high of $41.95.

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

Suncor Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Wednesday, June 4th will be paid a $0.4133 dividend. The ex-dividend date is Wednesday, June 4th. This is an increase from Suncor Energy’s previous quarterly dividend of $0.40. This represents a $1.65 dividend on an annualized basis and a dividend yield of 4.24%. Suncor Energy’s payout ratio is 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.