Suncor Energy Inc. (NYSE:SU) Stock Has Consensus Price Target of $81.71

Shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) have earned an average recommendation of “Buy” from the nine ratings firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, five have given a buy recommendation and three have given a strong buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $81.71.

A number of research firms have weighed in on SU. Morgan Stanley set a $106.00 price target on Suncor Energy in a research report on Wednesday, August 19th. Desjardins raised shares of Suncor Energy to a “moderate buy” rating in a research report on Thursday, July 16th. Zacks Research upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. Wall Street Zen upgraded shares of Suncor Energy from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 17th. Finally, Weiss Ratings raised shares of Suncor Energy from a “buy (b)” rating to a “buy (a-)” rating in a research report on Thursday, October 8th.

Hedge Funds Weigh In On Suncor Energy

A number of large investors have recently modified their holdings of SU. HighTower Advisors LLC boosted its position in Suncor Energy by 255.0% during the second quarter. HighTower Advisors LLC now owns 78,316 shares of the oil and gas producer’s stock valued at $4,204,000 after purchasing an additional 56,254 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Suncor Energy by 3.4% in the first quarter. Dimensional Fund Advisors LP now owns 12,609,777 shares of the oil and gas producer’s stock valued at $833,622,000 after purchasing an additional 411,243 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in Suncor Energy by 6.3% in the first quarter. Public Employees Retirement System of Ohio now owns 846,111 shares of the oil and gas producer’s stock valued at $55,802,000 after purchasing an additional 50,502 shares in the last quarter. TD Waterhouse Canada Inc. increased its position in shares of Suncor Energy by 2.1% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 11,657,514 shares of the oil and gas producer’s stock worth $625,497,000 after purchasing an additional 239,208 shares during the last quarter. Finally, Bank of America Corp DE acquired a new position in shares of Suncor Energy during the 2nd quarter worth approximately $351,892,000. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Suncor Energy Stock Up 1.8%

NYSE:SU opened at $68.96 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.27 and a current ratio of 1.71. The company has a market cap of $79.89 billion, a PE ratio of 10.14, a PEG ratio of 0.22 and a beta of 0.22. Suncor Energy has a 52-week low of $42.09 and a 52-week high of $80.25. The stock has a 50-day simple moving average of $71.66 and a 200 day simple moving average of $64.11.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results on Tuesday, November 3rd. The oil and gas producer reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.35 by $0.49. The business had revenue of $13.26 billion for the quarter, compared to analyst estimates of $11.85 billion. Suncor Energy had a return on equity of 25.55% and a net margin of 17.49%. During the same quarter last year, the firm earned $1.48 EPS. On average, sell-side analysts expect that Suncor Energy will post 9.30 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 24th. Shareholders of record on Thursday, December 3rd will be given a dividend of C$0.66 per share. This is a boost from Suncor Energy’s previous quarterly dividend of C$0.60. The ex-dividend date of this dividend is Thursday, December 3rd. This represents a $2.64 annualized dividend and a yield of 3.8%. Suncor Energy’s payout ratio is presently 25.44%.

Suncor Energy Company Profile

Suncor Energy Inc. is an integrated energy company headquartered in Calgary, Alberta. Its operations span the energy value chain, from producing and processing crude oil to refining, marketing and distributing fuel products. The company’s upstream business includes oil sands development and upgrading in Alberta, as well as conventional and offshore oil and gas production. Its refining and marketing operations serve customers in Canada and the United States, selling products such as gasoline, diesel and jet fuel under brands including Petro-Canada.