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

Suncor Energy Inc. (NYSE:SU) (TSE:SU) has earned an average recommendation of “Moderate Buy” from the eight analysts that are covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $71.6667.

Several analysts have recently commented on SU shares. Wall Street Zen cut shares of Suncor Energy from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 7th. Weiss Ratings cut shares of Suncor Energy from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, June 3rd. ATB Cormark Capital Markets raised shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, April 1st. Royal Bank Of Canada raised their price objective on shares of Suncor Energy from $75.00 to $89.00 and gave the company an “outperform” rating in a research note on Wednesday, April 1st. Finally, Zacks Research cut shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 1st.

Suncor Energy Price Performance

SU opened at $58.14 on Wednesday. Suncor Energy has a one year low of $37.22 and a one year high of $70.29. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.42 and a quick ratio of 0.92. The company’s 50 day simple moving average is $64.66 and its 200-day simple moving average is $56.65. The stock has a market capitalization of $68.65 billion, a P/E ratio of 15.26 and a beta of 0.27.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $9.22 billion. During the same period last year, the company earned $1.31 earnings per share. Sell-side analysts anticipate that Suncor Energy will post 7.07 earnings per share for the current fiscal year.

Suncor Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.1%. Suncor Energy’s dividend payout ratio (DPR) is presently 45.41%.

Hedge Funds Weigh In On Suncor Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of 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 purchasing an additional 225 shares in the last quarter. 1 North Wealth Services LLC bought a new position in shares of Suncor Energy during the fourth quarter worth $32,000. Smartleaf Asset Management LLC raised its holdings 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 acquiring an additional 388 shares during the period. Cassaday & Co Wealth Management LLC bought a new stake in Suncor Energy in the 1st quarter valued at $53,000. Finally, Headlands Technologies LLC bought a new stake in Suncor Energy in the 2nd quarter valued at $31,000. 67.37% of the stock is owned by institutional investors.

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.