Suncor Energy Inc. (NYSE:SU) Stock Has Average Target Price of $80.25 According to Brokerages

Suncor Energy Inc. (NYSE:SU) (TSE:SU) has received a consensus rating of “Moderate Buy” from the eleven analysts that are covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $80.25.

A number of brokerages have recently weighed in on SU. The Goldman Sachs Group lowered Suncor Energy from a “buy” rating to a “neutral” rating and set a $72.00 target price on the stock. in a research report on Friday, June 5th. Morgan Stanley set a $106.00 target price on Suncor Energy in a research report on Wednesday, August 19th. Weiss Ratings upgraded Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, July 29th. Desjardins upgraded shares of Suncor Energy to a “moderate buy” rating in a report on Thursday, July 16th. Finally, Wall Street Zen lowered shares of Suncor Energy from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SU. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Suncor Energy in the second quarter valued at approximately $816,551,000. The Manufacturers Life Insurance Company bought a new position in Suncor Energy in the 2nd quarter worth approximately $790,952,000. Arrowstreet Capital Limited Partnership boosted its holdings in Suncor Energy by 121.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 26,085,360 shares of the oil and gas producer’s stock worth $1,724,954,000 after buying an additional 14,304,131 shares during the period. Canada Pension Plan Investment Board purchased a new position in Suncor Energy in the 2nd quarter valued at approximately $466,810,000. Finally, Bank of America Corp DE purchased a new position in Suncor Energy in the 2nd quarter valued at approximately $351,892,000. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Suncor Energy Trading Up 1.0%

NYSE SU opened at $68.66 on Friday. The stock has a market capitalization of $80.31 billion, a P/E ratio of 12.65, a P/E/G ratio of 0.48 and a beta of 0.30. The business has a 50 day simple moving average of $66.38 and a 200 day simple moving average of $63.75. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.65 and a quick ratio of 1.08. Suncor Energy has a one year low of $37.76 and a one year high of $72.06.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings results on Tuesday, August 4th. The oil and gas producer reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.19. Suncor Energy had a return on equity of 20.05% and a net margin of 15.62%.The firm had revenue of $13.41 billion for the quarter, compared to analyst estimates of $11.68 billion. During the same period in the previous year, the firm earned $0.71 earnings per share. Research analysts expect that Suncor Energy will post 7.39 earnings per share for the current year.

Suncor Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be given a C$0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Friday, September 4th. Suncor Energy’s dividend payout ratio (DPR) is currently 31.86%.

About Suncor Energy

Suncor Energy Inc is an integrated energy company headquartered in Calgary, Alberta, Canada. Its operations include the development, production and upgrading of oil sands resources, conventional oil and natural gas production, and the refining and marketing of petroleum products.

Suncor produces crude oil, synthetic crude oil, refined fuels, lubricants and petrochemical feedstocks. Through its Petro-Canada brand, the company operates retail fuel stations and convenience stores across Canada, while its refining and marketing activities serve customers in Canada and the United States.

Founded in 1919, Suncor has evolved from an oil sands producer into one of Canada’s largest integrated energy companies.