Analysts Set Suncor Energy Inc. (NYSE:SU) Price Target at $57.67

Shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) have been assigned a consensus rating of “Moderate Buy” from the ten ratings firms that are covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $61.00.

Several equities research analysts recently weighed in on SU shares. Zacks Research cut shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Suncor Energy in a report on Monday, December 29th. The Goldman Sachs Group increased their price target on shares of Suncor Energy from $48.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, January 23rd. Wells Fargo & Company started coverage on shares of Suncor Energy in a research report on Friday, October 17th. They set an “equal weight” rating for the company. Finally, Wall Street Zen downgraded Suncor Energy from a “buy” rating to a “hold” rating in a report on Sunday, December 28th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Shell Asset Management Co. grew its stake in Suncor Energy by 65.8% in the second quarter. Shell Asset Management Co. now owns 103,082 shares of the oil and gas producer’s stock valued at $3,854,000 after acquiring an additional 40,892 shares during the period. CWA Asset Management Group LLC grew its position in Suncor Energy by 64.9% in the 3rd quarter. CWA Asset Management Group LLC now owns 117,779 shares of the oil and gas producer’s stock valued at $4,924,000 after purchasing an additional 46,342 shares during the period. Principal Financial Group Inc. increased its stake in Suncor Energy by 0.6% during the 3rd quarter. Principal Financial Group Inc. now owns 18,854,921 shares of the oil and gas producer’s stock valued at $789,213,000 after purchasing an additional 106,765 shares in the last quarter. Ontario Teachers Pension Plan Board lifted its stake in shares of Suncor Energy by 15.6% in the second quarter. Ontario Teachers Pension Plan Board now owns 315,278 shares of the oil and gas producer’s stock valued at $11,818,000 after buying an additional 42,506 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Suncor Energy by 45.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 723,965 shares of the oil and gas producer’s stock valued at $29,871,000 after buying an additional 227,197 shares in the last quarter. Institutional investors own 67.37% of the company’s stock.

Suncor Energy Trading Up 1.6%

Shares of NYSE:SU opened at $54.66 on Thursday. The business’s 50 day simple moving average is $47.09 and its 200 day simple moving average is $43.18. Suncor Energy has a 1 year low of $30.79 and a 1 year high of $55.30. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.39 and a quick ratio of 0.89. The company has a market capitalization of $65.24 billion, a P/E ratio of 15.75 and a beta of 0.45.

Suncor Energy (NYSE:SU) (TSE:SU) last released its earnings results on Tuesday, February 3rd. The oil and gas producer reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.02. The firm had revenue of $8.77 billion during the quarter, compared to the consensus estimate 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 company posted $1.25 EPS. On average, research analysts anticipate that Suncor Energy will post 3.42 EPS for the current fiscal year.

Suncor Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 4th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Wednesday, March 4th. Suncor Energy’s payout ratio is currently 49.57%.

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.