Suncor Energy Inc. (NYSE:SU) Stock Has Average Price Target of $79.62

Key Points

• Analysts remain bullish: Twelve brokerages give Suncor Energy a consensus “Buy” rating, with an average 12-month price target of $79.62.
• Strong quarterly results: Suncor reported quarterly EPS of $2.33, exceeding estimates of $2.14, while revenue reached $13.41 billion versus the $11.68 billion consensus.
• Institutional support and income: Hedge funds and other institutional investors own 67.37% of the stock, while Suncor’s quarterly dividend implies an annualized yield of approximately 3.3%.

Suncor Energy Inc. (NYSE:SU - Get Free Report) TSE: SU has been assigned a consensus recommendation of "Buy" from the twelve brokerages that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and three have given a strong buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $79.62.

Several research firms have recently issued reports on SU. Scotiabank raised shares of Suncor Energy to a "strong-buy" rating in a research report on Friday, June 26th. Desjardins raised shares of Suncor Energy to a "moderate buy" rating in a report on Thursday, July 16th. Wall Street Zen downgraded shares of Suncor Energy from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 1st. Morgan Stanley set a $106.00 price objective on shares of Suncor Energy in a research note on Wednesday, August 19th. Finally, Zacks Research raised shares of Suncor Energy from a "hold" rating to a "strong-buy" rating in a report on Monday, October 5th.

Hedge Funds Weigh In On Suncor Energy

Several hedge funds have recently made changes to their positions in SU. Valeo Financial Advisors LLC grew its holdings in shares of Suncor Energy by 1.6% during the 3rd quarter. Valeo Financial Advisors LLC now owns 10,239 shares of the oil and gas producer's stock valued at $695,000 after purchasing an additional 166 shares during the last quarter. Formidable Asset Management LLC raised its position in Suncor Energy by 1.1% in the 1st quarter. Formidable Asset Management LLC now owns 16,004 shares of the oil and gas producer's stock worth $1,058,000 after purchasing an additional 171 shares during the period. Mitchell & Pahl Private Wealth LLC lifted its stake in Suncor Energy by 0.8% in the first quarter. Mitchell & Pahl Private Wealth LLC now owns 24,278 shares of the oil and gas producer's stock worth $1,605,000 after purchasing an additional 190 shares during the last quarter. DGS Capital Management LLC lifted its stake in Suncor Energy by 3.2% in the fourth quarter. DGS Capital Management LLC now owns 6,149 shares of the oil and gas producer's stock worth $273,000 after purchasing an additional 193 shares during the last quarter. Finally, Sage Investment Counsel LLC lifted its stake in Suncor Energy by 2.4% in the first quarter. Sage Investment Counsel LLC now owns 8,600 shares of the oil and gas producer's stock worth $569,000 after purchasing an additional 200 shares during the last quarter. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Suncor Energy Trading Up 1.7%

Shares of SU opened at $73.49 on Tuesday. Suncor Energy has a fifty-two week low of $37.76 and a fifty-two week high of $74.25. The business has a 50-day moving average of $67.46 and a 200 day moving average of $64.48. The firm has a market cap of $85.95 billion, a P/E ratio of 13.53, a price-to-earnings-growth ratio of 0.47 and a beta of 0.36. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.08 and a current ratio of 1.65.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last released its quarterly earnings data on Tuesday, August 4th. The oil and gas producer reported $2.33 EPS for the quarter, beating the consensus estimate of $2.14 by $0.19. The business had revenue of $13.41 billion for the quarter, compared to the consensus estimate of $11.68 billion. Suncor Energy had a net margin of 15.62% and a return on equity of 20.05%. During the same period in the prior year, the firm earned $0.71 earnings per share. As a group, research analysts forecast that Suncor Energy will post 8.12 EPS for the current year.

Suncor Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 4th were issued a C$0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Friday, September 4th. Suncor Energy's dividend payout ratio (DPR) is presently 31.86%.

Suncor Energy Company Profile

Suncor Energy Inc is an integrated energy company headquartered in Calgary, Alberta. Its operations span the development and production of crude oil from Canada's oil sands, offshore petroleum production, refining, and the marketing and distribution of petroleum products.

The company produces synthetic crude oil, bitumen and conventional crude oil, which are processed through its refining operations into fuels and other refined products. Suncor markets fuel and convenience products through the Petro-Canada retail network and supplies commercial, wholesale and industrial customers.

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