Suncor Energy Inc. (SU) Receives Consensus Recommendation of “Buy” from Analysts

Suncor Energy Inc. (TSE:SU) (NYSE:SU) has been assigned an average recommendation of “Buy” from the fourteen brokerages that are currently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is C$48.92.

A number of analysts have issued reports on the company. National Bank Financial cut their target price on Suncor Energy from C$50.00 to C$49.00 and set an “outperform” rating on the stock in a research report on Friday, October 13th. J P Morgan Chase & Co boosted their target price on Suncor Energy from C$39.00 to C$42.00 in a research report on Thursday, September 14th. BMO Capital Markets boosted their target price on Suncor Energy from C$50.00 to C$52.00 in a research report on Thursday, November 16th. CIBC boosted their target price on Suncor Energy from C$50.00 to C$53.00 in a research report on Tuesday, October 17th. Finally, TD Securities cut their target price on Suncor Energy from C$46.00 to C$45.00 and set a “buy” rating on the stock in a research report on Thursday, July 27th.

In related news, insider Mark Stephen Little sold 1,000 shares of the business’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of C$45.51, for a total transaction of C$45,510.00. Also, Director Jacynthe Cote bought 2,000 shares of the stock in a transaction that occurred on Tuesday, September 19th. The shares were purchased at an average price of C$41.78 per share, with a total value of C$83,560.00. In the last 90 days, insiders acquired 3,539 shares of company stock valued at $146,553 and sold 76,100 shares valued at $3,440,074.

Suncor Energy (TSE:SU) traded up C$0.31 during mid-day trading on Thursday, hitting C$44.99. 1,619,570 shares of the stock traded hands, compared to its average volume of 2,656,466. Suncor Energy has a 1 year low of C$36.09 and a 1 year high of C$46.66.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 22nd. Shareholders of record on Friday, December 1st will be paid a $0.32 dividend. The ex-dividend date is Thursday, November 30th. This represents a $1.28 annualized dividend and a dividend yield of 2.85%. Suncor Energy’s dividend payout ratio (DPR) is 57.87%.

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About Suncor Energy

Suncor Energy Inc (Suncor) is an integrated energy company. The Company is focused on developing Canada’s petroleum resource basin, Athabasca oil sands. The Company operates in three business segments: Oil Sands, Exploration and Production (E&P), and Refining and Marketing. The Company’s Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations.

Analyst Recommendations for Suncor Energy (TSE:SU)

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