Suncor Energy Inc. (NYSE:SU) Receives $72.00 Consensus Target Price from Brokerages

Suncor Energy Inc. (NYSE:SU) (TSE:SU) has earned an average rating of “Buy” from the eight ratings firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $72.00.

A number of equities analysts have commented on the company. Wall Street Zen upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Zacks Research upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 2nd. Royal Bank Of Canada lifted their target price on Suncor Energy from $75.00 to $89.00 and gave the company an “outperform” rating in a research note on Wednesday, April 1st. ATB Cormark Capital Markets upgraded shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, April 1st. Finally, The Goldman Sachs Group raised their price target on shares of Suncor Energy from $66.00 to $73.00 and gave the company a “buy” rating in a research note on Wednesday, April 1st.

Suncor Energy Stock Performance

Shares of SU stock opened at $67.34 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.42 and a debt-to-equity ratio of 0.20. The business has a 50 day moving average of $64.86 and a two-hundred day moving average of $54.22. Suncor Energy has a 52 week low of $34.99 and a 52 week high of $70.29. The company has a market cap of $79.52 billion, a P/E ratio of 17.68 and a beta of 0.31.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 EPS for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). Suncor Energy had a net margin of 12.29% and a return on equity of 13.96%. The company had revenue of $10.41 billion during the quarter, compared to analyst estimates of $9.22 billion. During the same quarter in the previous year, the firm earned $1.31 earnings per share. As a group, analysts anticipate that Suncor Energy will post 6.79 EPS for the current year.

Suncor Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th will be given a dividend of $0.60 per share. The ex-dividend date is Thursday, June 4th. This represents a $2.40 annualized dividend and a dividend yield of 3.6%. Suncor Energy’s payout ratio is currently 46.19%.

Hedge Funds Weigh In On Suncor Energy

Hedge funds and other institutional investors have recently made changes to their positions in the business. Atlantic Edge Private Wealth Management LLC boosted its position in shares of Suncor Energy by 54.9% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 635 shares of the oil and gas producer’s stock worth $28,000 after buying an additional 225 shares during the period. Richardson Financial Services Inc. boosted its position in shares of Suncor Energy by 64.1% during the third quarter. Richardson Financial Services Inc. now owns 704 shares of the oil and gas producer’s stock worth $29,000 after buying an additional 275 shares during the period. Headlands Technologies LLC acquired a new position in shares of Suncor Energy during the second quarter worth approximately $31,000. 1 North Wealth Services LLC acquired a new position in shares of Suncor Energy during the fourth quarter worth approximately $32,000. Finally, Smartleaf Asset Management LLC boosted its position in shares of Suncor Energy by 95.8% during the third quarter. Smartleaf Asset Management LLC now owns 793 shares of the oil and gas producer’s stock worth $33,000 after buying an additional 388 shares during the period. 67.37% of the stock is currently owned by institutional investors and hedge funds.

About Suncor Energy

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company’s operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.