Brokerages Set Suncor Energy Inc. (NYSE:SU) Target Price at $54.86

Shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) have been given a consensus rating of “Moderate Buy” by the nine research firms that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $54.86.

Several analysts have weighed in on SU shares. Raymond James raised Suncor Energy to a “hold” rating in a research note on Tuesday, May 28th. Wolfe Research initiated coverage on Suncor Energy in a report on Thursday, July 18th. They set an “outperform” rating and a $68.00 target price for the company. StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. The Goldman Sachs Group boosted their price objective on shares of Suncor Energy from $38.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Finally, TD Securities upgraded Suncor Energy from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th.

Institutional Investors Weigh In On Suncor Energy

Several institutional investors and hedge funds have recently bought and sold shares of SU. Cetera Investment Advisers lifted its position in shares of Suncor Energy by 8.2% during the 2nd quarter. Cetera Investment Advisers now owns 92,292 shares of the oil and gas producer’s stock worth $3,516,000 after buying an additional 7,015 shares during the period. Chase Investment Counsel Corp raised its stake in Suncor Energy by 7.2% during the second quarter. Chase Investment Counsel Corp now owns 12,666 shares of the oil and gas producer’s stock worth $482,000 after acquiring an additional 852 shares in the last quarter. Quarry LP lifted its holdings in shares of Suncor Energy by 73.0% during the second quarter. Quarry LP now owns 51,678 shares of the oil and gas producer’s stock valued at $1,969,000 after acquiring an additional 21,806 shares during the period. NewEdge Advisors LLC boosted its stake in shares of Suncor Energy by 52.8% in the 2nd quarter. NewEdge Advisors LLC now owns 39,593 shares of the oil and gas producer’s stock valued at $1,509,000 after purchasing an additional 13,674 shares in the last quarter. Finally, Creative Planning boosted its stake in shares of Suncor Energy by 3.3% in the 2nd quarter. Creative Planning now owns 250,035 shares of the oil and gas producer’s stock valued at $9,526,000 after purchasing an additional 7,889 shares in the last quarter. Institutional investors own 67.37% of the company’s stock.

Suncor Energy Stock Performance

Suncor Energy stock opened at $40.97 on Friday. Suncor Energy has a 12 month low of $29.45 and a 12 month high of $41.94. The company has a fifty day moving average price of $38.92 and a two-hundred day moving average price of $37.82. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.46 and a quick ratio of 0.93. The company has a market cap of $52.05 billion, a PE ratio of 9.12, a P/E/G ratio of 2.86 and a beta of 1.12.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings data on Tuesday, August 6th. The oil and gas producer reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.51. The firm had revenue of $12.90 billion during the quarter, compared to the consensus estimate of $9.30 billion. Suncor Energy had a return on equity of 16.22% and a net margin of 14.40%. The firm’s revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.71 EPS. Research analysts expect that Suncor Energy will post 3.64 earnings per share for the current year.

Suncor Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th will be issued a $0.395 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $1.58 annualized dividend and a yield of 3.86%. Suncor Energy’s dividend payout ratio (DPR) is 35.63%.

Suncor Energy Company Profile

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.