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

Suncor Energy Inc. (NYSE:SU) (TSE:SU) has been assigned a consensus recommendation of “Moderate Buy” from the ten research firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and two have issued a strong buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $65.00.

A number of research firms recently commented on SU. Wells Fargo & Company initiated coverage on shares of Suncor Energy in a research report on Friday, October 17th. They issued an “equal weight” rating on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Suncor Energy in a report on Monday. Raymond James Financial upgraded Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 6th. Royal Bank Of Canada reissued an “outperform” rating and issued a $65.00 target price on shares of Suncor Energy in a research report on Friday, October 3rd. Finally, Zacks Research downgraded Suncor Energy from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 15th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Richardson Financial Services Inc. raised its holdings in shares of Suncor Energy by 64.1% in the third quarter. Richardson Financial Services Inc. now owns 704 shares of the oil and gas producer’s stock valued at $29,000 after buying an additional 275 shares during the last quarter. Hanson & Doremus Investment Management raised its stake in Suncor Energy by 143.5% during the 3rd quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 465 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in Suncor Energy by 95.8% during the 3rd quarter. Smartleaf Asset Management LLC now owns 793 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 388 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Suncor Energy in the second quarter valued at approximately $31,000. Finally, Maseco LLP purchased a new stake in shares of Suncor Energy during the second quarter worth approximately $32,000. 67.37% of the stock is owned by hedge funds and other institutional investors.

Suncor Energy Price Performance

Shares of NYSE SU opened at $42.25 on Wednesday. The stock’s 50-day simple moving average is $42.20 and its 200-day simple moving average is $40.63. The firm has a market capitalization of $50.77 billion, a PE ratio of 13.85 and a beta of 0.46. Suncor Energy has a fifty-two week low of $30.79 and a fifty-two week high of $45.60. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.85 and a current ratio of 1.35.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings results on Tuesday, November 4th. The oil and gas producer reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.22. Suncor Energy had a return on equity of 13.01% and a net margin of 10.61%.The firm had revenue of $9.04 billion during the quarter, compared to the consensus estimate of $8.82 billion. During the same period in the prior year, the company posted $1.48 earnings per share. As a group, equities research analysts forecast that Suncor Energy will post 3.42 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 24th. Stockholders of record on Wednesday, December 3rd will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend is Wednesday, December 3rd. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.41. Suncor Energy’s dividend payout ratio is presently 56.39%.

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.