Suncor Energy Inc. (NYSE:SU) Stock Has Consensus Price Target of $81.71 According to Brokerages

Key Points

• Analyst consensus is Buy: Nine brokerages rate Suncor Energy, with five Buy and three Strong Buy ratings; the average 12-month price target is $81.71.
• Suncor reported quarterly EPS of $2.84, beating the $2.35 estimate, and revenue of $13.26 billion versus forecasts of $11.85 billion.
• The company increased its quarterly dividend to C$0.66 per share from C$0.60, equivalent to an annualized yield of about 3.8%.

Shares of Suncor Energy Inc. (NYSE:SU - Get Free Report) TSE: SU have been assigned a consensus rating of "Buy" from the nine research firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold rating, five have issued a buy rating and three have issued a strong buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $81.71.

Several equities analysts have recently commented on SU shares. Weiss Ratings upgraded shares of Suncor Energy from a "buy (b)" rating to a "buy (a-)" rating in a report on Thursday, October 8th. Morgan Stanley set a $106.00 target price on shares of Suncor Energy in a report on Wednesday, August 19th. Desjardins upgraded Suncor Energy to a "moderate buy" rating in a research report on Thursday, July 16th. Zacks Research upgraded Suncor Energy from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 5th. Finally, Wall Street Zen raised Suncor Energy from a "buy" rating to a "strong-buy" rating in a report on Saturday, October 17th.

Suncor Energy Stock Performance

Suncor Energy stock opened at $68.74 on Friday. Suncor Energy has a 1-year low of $42.03 and a 1-year high of $80.25. The firm has a 50-day moving average of $71.61 and a 200-day moving average of $63.85. The firm has a market cap of $80.40 billion, a P/E ratio of 10.11, a P/E/G ratio of 0.26 and a beta of 0.22. The company has a current ratio of 1.65, a quick ratio of 1.08 and a debt-to-equity ratio of 0.19.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last released its earnings results on Tuesday, November 3rd. The oil and gas producer reported $2.84 EPS for the quarter, beating analysts' consensus estimates of $2.35 by $0.49. The firm had revenue of $13.26 billion for the quarter, compared to analysts' expectations of $11.85 billion. Suncor Energy had a return on equity of 20.05% and a net margin of 15.62%. During the same quarter in the prior year, the firm posted $1.48 earnings per share. Sell-side analysts expect that Suncor Energy will post 8.78 EPS for the current year.

Suncor Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 24th. Investors of record on Thursday, December 3rd will be given a dividend of C$0.66 per share. This is a boost from Suncor Energy's previous quarterly dividend of C$0.60. The ex-dividend date of this dividend is Thursday, December 3rd. This represents a $2.64 annualized dividend and a yield of 3.8%. Suncor Energy's dividend payout ratio is presently 25.44%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. HighTower Advisors LLC grew its position in Suncor Energy by 255.0% during the 2nd quarter. HighTower Advisors LLC now owns 78,316 shares of the oil and gas producer's stock worth $4,204,000 after acquiring an additional 56,254 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Suncor Energy by 3.4% in the first quarter. Dimensional Fund Advisors LP now owns 12,609,777 shares of the oil and gas producer's stock valued at $833,622,000 after purchasing an additional 411,243 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in Suncor Energy by 6.3% during the first quarter. Public Employees Retirement System of Ohio now owns 846,111 shares of the oil and gas producer's stock valued at $55,802,000 after buying an additional 50,502 shares during the period. Bank of America Corp DE acquired a new position in shares of Suncor Energy in the second quarter worth about $351,892,000. Finally, TD Waterhouse Canada Inc. increased its holdings in shares of Suncor Energy by 2.1% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 11,657,514 shares of the oil and gas producer's stock worth $625,497,000 after buying an additional 239,208 shares during the last quarter. 67.37% of the stock is owned by institutional investors and hedge funds.

About Suncor Energy

Suncor Energy Inc is an integrated energy company headquartered in Calgary, Alberta. Its operations span the energy value chain, from producing and processing crude oil to refining, marketing and distributing fuel products.

The company's upstream business includes oil sands development and upgrading in Alberta, as well as conventional and offshore oil and gas production. Its refining and marketing operations serve customers in Canada and the United States, selling products such as gasoline, diesel and jet fuel under brands including Petro-Canada.

Suncor traces its roots to Great Canadian Oil Sands, which began commercial oil sands production in Alberta in 1967.

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