Suncor Energy Inc. (NYSE:SU) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) have received a consensus recommendation of “Moderate Buy” from the eight analysts that are currently covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $71.6667.

A number of analysts have recently commented on SU shares. The Goldman Sachs Group downgraded Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 target price on the stock. in a research note on Friday. Zacks Research downgraded Suncor Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 1st. ATB Cormark Capital Markets upgraded Suncor Energy from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, April 1st. Royal Bank Of Canada upped their target price on Suncor Energy from $75.00 to $89.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 1st. Finally, Wall Street Zen downgraded Suncor Energy from a “strong-buy” rating to a “buy” rating in a research note on Sunday.

Suncor Energy Stock Down 3.3%

Suncor Energy stock opened at $61.15 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.92 and a current ratio of 1.42. The business’s 50-day simple moving average is $65.17 and its two-hundred day simple moving average is $56.08. The company has a market cap of $72.21 billion, a PE ratio of 16.05 and a beta of 0.27. Suncor Energy has a fifty-two week low of $37.13 and a fifty-two week high of $70.29.

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

Suncor Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th will be paid a $0.60 dividend. The ex-dividend date is Thursday, June 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.9%. Suncor Energy’s dividend payout ratio is presently 45.67%.

Institutional Trading of Suncor Energy

A number of hedge funds have recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership boosted its position in Suncor Energy by 121.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 26,085,360 shares of the oil and gas producer’s stock worth $1,724,954,000 after purchasing an additional 14,304,131 shares in the last quarter. Fisher Asset Management LLC boosted its position in Suncor Energy by 85.5% during the third quarter. Fisher Asset Management LLC now owns 15,530,965 shares of the oil and gas producer’s stock worth $649,350,000 after purchasing an additional 7,158,953 shares in the last quarter. AQR Capital Management LLC boosted its position in Suncor Energy by 7,636.8% during the fourth quarter. AQR Capital Management LLC now owns 6,016,483 shares of the oil and gas producer’s stock worth $267,042,000 after purchasing an additional 5,938,719 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in Suncor Energy by 238.9% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 7,758,650 shares of the oil and gas producer’s stock worth $512,987,000 after purchasing an additional 5,469,431 shares in the last quarter. Finally, FIL Ltd boosted its position in Suncor Energy by 14.0% during the fourth quarter. FIL Ltd now owns 21,050,387 shares of the oil and gas producer’s stock worth $934,312,000 after purchasing an additional 2,592,516 shares in the last quarter. Hedge funds and other 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.