Brokerages Set Suncor Energy Inc. (NYSE:SU) Price Target at $29.00


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Suncor Energy Inc. (NYSE:SU) (TSE:SU) has been assigned a consensus recommendation of “Buy” from the sixteen brokerages that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $29.00.

Several analysts have issued reports on SU shares. National Bank Financial reissued a “sector perform” rating on shares of Suncor Energy in a research note on Wednesday, January 6th. Tudor Pickering reaffirmed a “buy” rating and set a $28.00 target price on shares of Suncor Energy in a research report on Friday, March 19th. Wells Fargo & Company lowered shares of Suncor Energy from an “overweight” rating to an “equal weight” rating and set a $26.00 target price on the stock. in a research report on Tuesday, December 15th. Scotiabank raised their target price on shares of Suncor Energy from $27.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, January 14th. Finally, Barclays lifted their price objective on shares of Suncor Energy from $31.00 to $32.00 and gave the company an “overweight” rating in a report on Friday, January 29th.

SU opened at $21.00 on Monday. The company has a quick ratio of 0.59, a current ratio of 0.98 and a debt-to-equity ratio of 0.42. Suncor Energy has a 52 week low of $10.67 and a 52 week high of $23.69. The firm has a 50-day simple moving average of $21.24 and a two-hundred day simple moving average of $16.95. The company has a market capitalization of $31.97 billion, a PE ratio of -6.63, a price-to-earnings-growth ratio of 24.20 and a beta of 1.71.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings results on Tuesday, February 2nd. The oil and gas producer reported ($0.09) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.02. The firm had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $6.71 billion. Suncor Energy had a negative net margin of 23.13% and a negative return on equity of 1.71%. During the same quarter last year, the firm earned $0.51 EPS. As a group, sell-side analysts expect that Suncor Energy will post -1.21 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 25th. Shareholders of record on Thursday, March 4th were issued a $0.1642 dividend. This represents a $0.66 annualized dividend and a yield of 3.13%. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.16. The ex-dividend date was Wednesday, March 3rd. Suncor Energy’s dividend payout ratio is presently 30.66%.

A number of large investors have recently bought and sold shares of SU. Brinker Capital Investments LLC acquired a new position in shares of Suncor Energy during the 3rd quarter worth about $2,064,000. M&G Investment Management Ltd. raised its position in shares of Suncor Energy by 8.4% during the 4th quarter. M&G Investment Management Ltd. now owns 844,996 shares of the oil and gas producer’s stock worth $13,939,000 after purchasing an additional 65,305 shares during the last quarter. Tompkins Financial Corp acquired a new stake in Suncor Energy in the 4th quarter valued at about $158,000. US Bancorp DE raised its holdings in Suncor Energy by 7.1% in the 4th quarter. US Bancorp DE now owns 57,986 shares of the oil and gas producer’s stock valued at $973,000 after acquiring an additional 3,859 shares during the last quarter. Finally, Deep Basin Capital LP acquired a new stake in Suncor Energy in the 4th quarter valued at about $14,511,000. 61.98% of the stock is currently owned by institutional investors.

About Suncor Energy

Suncor Energy Inc operates as an integrated energy company. The company primarily focuses on developing petroleum resource basins in Canada's Athabasca oil sands; explores, acquires, develops, produces, transports, refines, and markets crude oil in Canada and internationally; markets petroleum and petrochemical products under the Petro-Canada name primarily in Canada.

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Analyst Recommendations for Suncor Energy (NYSE:SU)

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