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

Shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) have been given a consensus rating of “Moderate Buy” by the nine analysts that are covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $51.67.

Several brokerages have issued reports on SU. Morgan Stanley increased their target price on Suncor Energy from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. TD Securities increased their target price on Suncor Energy from $52.00 to $57.00 and gave the company a “hold” rating in a research report on Wednesday, May 22nd. Raymond James raised Suncor Energy to a “hold” rating in a research report on Tuesday, May 28th. The Goldman Sachs Group raised their price objective on Suncor Energy from $38.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Finally, StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a research report on Monday, June 24th.

Hedge Funds Weigh In On Suncor Energy

A number of institutional investors have recently modified their holdings of SU. Toronto Dominion Bank raised its stake in shares of Suncor Energy by 59.7% during the 1st quarter. Toronto Dominion Bank now owns 17,606,934 shares of the oil and gas producer’s stock valued at $649,872,000 after buying an additional 6,580,260 shares during the last quarter. TD Asset Management Inc lifted its holdings in Suncor Energy by 16.8% in the fourth quarter. TD Asset Management Inc now owns 32,070,496 shares of the oil and gas producer’s stock valued at $1,032,453,000 after acquiring an additional 4,612,764 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Suncor Energy by 669.2% during the first quarter. Assenagon Asset Management S.A. now owns 4,348,589 shares of the oil and gas producer’s stock worth $160,507,000 after purchasing an additional 3,783,250 shares in the last quarter. AGF Management Ltd. lifted its stake in Suncor Energy by 454.9% during the fourth quarter. AGF Management Ltd. now owns 3,586,421 shares of the oil and gas producer’s stock worth $114,909,000 after purchasing an additional 2,940,103 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in Suncor Energy by 8.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 22,384,816 shares of the oil and gas producer’s stock worth $717,210,000 after purchasing an additional 1,725,969 shares in the last quarter. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Suncor Energy Stock Down 3.2 %

Shares of NYSE:SU opened at $37.79 on Friday. Suncor Energy has a 52-week low of $28.26 and a 52-week high of $41.50. The stock has a market cap of $48.43 billion, a P/E ratio of 8.42, a price-to-earnings-growth ratio of 3.70 and a beta of 1.12. The business’s 50 day moving average is $38.73 and its 200 day moving average is $35.93. The company has a quick ratio of 0.97, a current ratio of 1.51 and a debt-to-equity ratio of 0.25.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results on Tuesday, May 7th. The oil and gas producer reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.15. The business had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $8.64 billion. Suncor Energy had a return on equity of 15.69% and a net margin of 15.38%. Sell-side analysts predict that Suncor Energy will post 3.52 EPS for the current year.

Suncor Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 25th. Investors of record on Tuesday, June 4th were paid a $0.395 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $1.58 dividend on an annualized basis and a yield of 4.18%. Suncor Energy’s dividend payout ratio (DPR) is 35.19%.

About Suncor Energy

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.