Brokerages Set Suncor Energy Inc. (NYSE:SU) Target Price at $58.00

Suncor Energy Inc. (NYSE:SU) (TSE:SU) has been assigned a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are currently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $58.00.

Several research firms recently commented on SU. StockNews.com upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Tudor Pickering raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 10th. Desjardins raised Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Royal Bank of Canada restated an “outperform” rating and issued a $66.00 price objective on shares of Suncor Energy in a research note on Tuesday, January 7th. Finally, Cibc World Mkts upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 11th.

Suncor Energy Price Performance

Shares of NYSE:SU opened at $40.19 on Friday. The company has a market capitalization of $50.02 billion, a P/E ratio of 11.65, a price-to-earnings-growth ratio of 2.91 and a beta of 1.12. The company’s 50-day moving average is $37.89 and its 200 day moving average is $38.64. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.33. Suncor Energy has a fifty-two week low of $32.64 and a fifty-two week high of $41.94.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Wednesday, February 5th. The oil and gas producer reported $0.89 EPS for the quarter, topping the consensus estimate of $0.82 by $0.07. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. On average, equities research analysts forecast that Suncor Energy will post 3.42 earnings per share for the current year.

Suncor Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 4th will be issued a dividend of $0.399 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date is Tuesday, March 4th. Suncor Energy’s payout ratio is presently 46.67%.

Institutional Investors Weigh In On Suncor Energy

A number of institutional investors and hedge funds have recently modified their holdings of SU. CWM LLC increased its holdings in Suncor Energy by 20.2% during the 3rd quarter. CWM LLC now owns 5,312 shares of the oil and gas producer’s stock worth $196,000 after acquiring an additional 894 shares during the period. Creative Planning grew its position in shares of Suncor Energy by 4.5% during the 3rd quarter. Creative Planning now owns 261,240 shares of the oil and gas producer’s stock valued at $9,645,000 after purchasing an additional 11,205 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Suncor Energy by 2.5% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 37,609 shares of the oil and gas producer’s stock worth $1,389,000 after purchasing an additional 917 shares during the period. Stonegate Investment Group LLC bought a new position in shares of Suncor Energy in the third quarter worth $216,000. Finally, Net Worth Advisory Group purchased a new stake in shares of Suncor Energy in the third quarter worth $286,000. 67.37% of the stock is owned by hedge funds and other institutional investors.

Suncor Energy Company Profile

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.