Brokerages Set Suncor Energy Inc. (NYSE:SU) PT at $72.00

Suncor Energy Inc. (NYSE:SU) (TSE:SU) has been assigned a consensus recommendation of “Buy” from the eight analysts that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $72.00.

Several equities research analysts have weighed in on the stock. Royal Bank Of Canada increased their target price on shares of Suncor Energy from $75.00 to $89.00 and gave the stock an “outperform” rating in a report on Wednesday, April 1st. Wall Street Zen upgraded Suncor Energy from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. ATB Cormark Capital Markets raised Suncor Energy from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, April 1st. The Goldman Sachs Group lifted their price objective on Suncor Energy from $66.00 to $73.00 and gave the company a “buy” rating in a report on Wednesday, April 1st. Finally, Weiss Ratings upgraded Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 6th.

Institutional Investors Weigh In On Suncor Energy

Institutional investors have recently added to or reduced their stakes in the stock. Atlantic Edge Private Wealth Management LLC boosted its stake in Suncor Energy by 54.9% in the 4th 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 during the period. Richardson Financial Services Inc. lifted 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 purchasing an additional 275 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Suncor Energy in the second quarter valued at about $31,000. 1 North Wealth Services LLC acquired a new position in shares of Suncor Energy during the fourth quarter worth about $32,000. Finally, Smartleaf Asset Management LLC grew 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 buying an additional 388 shares in the last quarter. 67.37% of the stock is owned by institutional investors.

Suncor Energy Price Performance

Shares of SU opened at $67.89 on Friday. The stock has a market cap of $80.16 billion, a P/E ratio of 17.82 and a beta of 0.31. Suncor Energy has a 1 year low of $34.67 and a 1 year high of $70.29. The stock’s 50-day moving average price is $64.47 and its two-hundred day moving average price is $53.93. The company has a current ratio of 1.42, a quick ratio of 0.92 and a debt-to-equity ratio of 0.20.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share 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 firm had revenue of $10.41 billion during the quarter, compared to analyst estimates of $9.22 billion. During the same quarter in the prior year, the business earned $1.31 earnings per share. On average, equities analysts predict that Suncor Energy will post 6.79 earnings per share for the current year.

Suncor Energy Dividend Announcement

The business 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 of this dividend is Thursday, June 4th. This represents a $2.40 annualized dividend and a dividend yield of 3.5%. Suncor Energy’s dividend payout ratio is currently 46.19%.

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.