Brokerages Set Suncor Energy Inc. (NYSE:SU) PT at $71.67

Shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) have been assigned an average rating of “Moderate Buy” from the nine research firms that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $71.6667.

SU has been the subject of a number of analyst reports. Royal Bank Of Canada raised their price target on Suncor Energy from $75.00 to $89.00 and gave the company an “outperform” rating in a research note on Wednesday, April 1st. The Goldman Sachs Group lowered shares of Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 price target on the stock. in a research report on Friday, June 5th. Zacks Research cut shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 1st. Weiss Ratings upgraded shares of Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, June 26th. Finally, Wall Street Zen cut Suncor Energy from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 7th.

Hedge Funds Weigh In On Suncor Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Swiss Life Asset Management Ltd grew its holdings in shares of Suncor Energy by 35.0% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 101,192 shares of the oil and gas producer’s stock worth $4,240,000 after purchasing an additional 26,252 shares in the last quarter. Intact Investment Management Inc. lifted its holdings in shares of Suncor Energy by 36.3% during the 4th quarter. Intact Investment Management Inc. now owns 1,695,160 shares of the oil and gas producer’s stock worth $75,236,000 after acquiring an additional 451,110 shares during the period. American Century Companies Inc. boosted its position in shares of Suncor Energy by 2.1% during the 3rd quarter. American Century Companies Inc. now owns 896,556 shares of the oil and gas producer’s stock worth $37,519,000 after acquiring an additional 18,231 shares in the last quarter. Cantor Fitzgerald L. P. acquired a new stake in shares of Suncor Energy during the 3rd quarter worth approximately $1,067,000. Finally, Harvest Portfolios Group Inc. increased its stake in Suncor Energy by 9.1% in the fourth quarter. Harvest Portfolios Group Inc. now owns 360,668 shares of the oil and gas producer’s stock valued at $16,008,000 after acquiring an additional 30,210 shares during the last quarter. 67.37% of the stock is owned by institutional investors.

Suncor Energy Stock Performance

Shares of SU opened at $56.69 on Friday. Suncor Energy has a 12 month low of $37.76 and a 12 month high of $70.29. The firm has a fifty day simple moving average of $62.00 and a 200 day simple moving average of $57.81. The stock has a market capitalization of $66.94 billion, a price-to-earnings ratio of 14.88 and a beta of 0.30. The company has a current ratio of 1.42, a quick ratio of 0.92 and a debt-to-equity ratio of 0.20.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.45 by ($0.04). Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. The business had revenue of $10.41 billion during the quarter, compared to analyst estimates of $9.22 billion. During the same quarter in the previous year, the firm posted $1.31 earnings per share. Research analysts forecast that Suncor Energy will post 7.07 EPS for the current fiscal year.

Suncor Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 4.2%. The ex-dividend date was Thursday, June 4th. Suncor Energy’s payout ratio is currently 45.67%.

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.