Suncor Energy Inc. (NYSE:SU) Receives $55.83 Average Target Price from Analysts

Suncor Energy Inc. (NYSE:SU) (TSE:SU) has earned a consensus recommendation of “Moderate Buy” from the eight brokerages that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $55.83.

SU has been the topic of a number of recent analyst reports. StockNews.com cut shares of Suncor Energy from a “buy” rating to a “hold” rating in a research note on Friday. Raymond James upgraded Suncor Energy to a “hold” rating in a research note on Tuesday, May 28th. BMO Capital Markets raised Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Wednesday, August 7th. TD Securities raised Suncor Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. Finally, Scotiabank decreased their target price on Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th.

Suncor Energy Price Performance

Shares of NYSE SU opened at $37.21 on Thursday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.46 and a quick ratio of 0.93. Suncor Energy has a fifty-two week low of $29.45 and a fifty-two week high of $41.94. The stock has a market capitalization of $47.69 billion, a PE ratio of 8.29, a P/E/G ratio of 2.47 and a beta of 1.13. The business has a fifty day moving average price of $38.90 and a two-hundred day moving average price of $38.36.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings data on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.51. Suncor Energy had a net margin of 14.40% and a return on equity of 16.22%. The business had revenue of $12.90 billion during the quarter, compared to analysts’ expectations of $9.30 billion. During the same quarter in the prior year, the business posted $0.71 earnings per share. Suncor Energy’s revenue was up 10.1% compared to the same quarter last year. As a group, equities analysts predict that Suncor Energy will post 3.71 earnings per share for the current fiscal year.

Suncor Energy Dividend Announcement

The company also recently announced 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 of this dividend is Wednesday, September 4th. This represents a $1.58 dividend on an annualized basis and a yield of 4.25%. Suncor Energy’s payout ratio is presently 35.86%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Toronto Dominion Bank lifted its holdings in 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 worth $649,872,000 after buying an additional 6,580,260 shares during the period. TD Asset Management Inc boosted 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. boosted its holdings in Suncor Energy by 90.9% in the second quarter. Assenagon Asset Management S.A. now owns 8,299,876 shares of the oil and gas producer’s stock valued at $316,226,000 after acquiring an additional 3,951,287 shares during the last quarter. National Bank of Canada FI increased its position in Suncor Energy by 60.7% during the 2nd quarter. National Bank of Canada FI now owns 8,661,861 shares of the oil and gas producer’s stock valued at $328,876,000 after purchasing an additional 3,272,896 shares during the period. Finally, Sanders Capital LLC raised its holdings in Suncor Energy by 2.8% during the 4th quarter. Sanders Capital LLC now owns 57,318,037 shares of the oil and gas producer’s stock worth $1,836,470,000 after purchasing an additional 1,568,629 shares during the last quarter. Institutional investors own 67.37% of the company’s stock.

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.