Suncor Energy Inc. (TSE:SU) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• Analysts hold a Moderate Buy consensus on Suncor Energy, with eight buy ratings, four holds and one strong buy. The average 12-month price target is C$97.69.
• Recent broker actions were mixed but generally positive: TD and Raymond James raised their price targets, while Scotiabank upgraded the stock to strong buy; Goldman Sachs downgraded it to hold.
• Suncor reported quarterly earnings of C$3.23 per share on C$17.50 billion in revenue and announced a quarterly dividend of $0.60 per share, equal to a 2.5% annualized yield.

Shares of Suncor Energy Inc. (TSE:SU - Get Free Report) NYSE: SU have been given an average recommendation of "Moderate Buy" by the thirteen brokerages that are currently covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is C$97.69.

Several research analysts have issued reports on SU shares. TD increased their price objective on Suncor Energy from C$113.00 to C$116.00 and gave the stock a "buy" rating in a research report on Wednesday, July 22nd. Raymond James Financial boosted their target price on shares of Suncor Energy from C$103.00 to C$109.00 and gave the stock an "outperform" rating in a research report on Thursday, August 6th. The Goldman Sachs Group cut shares of Suncor Energy from a "buy" rating to a "hold" rating in a research note on Friday, June 5th. Scotiabank raised shares of Suncor Energy to a "strong-buy" rating in a research note on Friday, June 26th. Finally, Gerdes Energy Research downgraded shares of Suncor Energy from a "buy" rating to a "neutral" rating and increased their price target for the company from C$96.00 to C$97.00 in a report on Wednesday, July 22nd.

Insider Buying and Selling

In other Suncor Energy news, insider Shelley Powell sold 41,911 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of C$87.60, for a total value of C$3,671,403.60. Following the completion of the transaction, the insider directly owned 27,705 shares of the company's stock, valued at approximately C$2,426,958. This trade represents a 60.20% decrease in their ownership of the stock. Also, insider Richard Michael Kruger sold 15,378 shares of Suncor Energy stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of C$94.84, for a total transaction of C$1,458,449.52. Insiders sold a total of 69,792 shares of company stock valued at $6,314,928 in the last 90 days. 0.01% of the stock is owned by corporate insiders.

Suncor Energy Stock Up 0.3%

Shares of TSE:SU opened at C$95.58 on Tuesday. The company has a market cap of C$111.79 billion, a price-to-earnings ratio of 12.76, a PEG ratio of 0.15 and a beta of 0.19. The firm's 50-day simple moving average is C$90.67 and its 200-day simple moving average is C$87.49. The company has a quick ratio of 0.83, a current ratio of 1.65 and a debt-to-equity ratio of 30.48. Suncor Energy has a fifty-two week low of C$53.02 and a fifty-two week high of C$98.57.

Suncor Energy (TSE:SU - Get Free Report) NYSE: SU last announced its quarterly earnings data on Tuesday, August 4th. The company reported C$3.23 earnings per share for the quarter. The company had revenue of C$17.50 billion for the quarter. Suncor Energy had a return on equity of 19.38% and a net margin of 15.32%. As a group, equities research analysts predict that Suncor Energy will post 4.4208333 earnings per share for the current year.

Suncor Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 25th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.5%. The ex-dividend date is Friday, September 4th. Suncor Energy's dividend payout ratio is presently 31.64%.

Suncor Energy Company Profile

Suncor Energy Inc is an integrated energy company. The company's operations include oil sands development, production and upgrading, offshore oil and gas, petroleum refining in Canada and the U.S. and the company's PetroCanada retail and wholesale distribution networks. The company is developing petroleum resources while advancing the transition to a low-emissions future through investment in power, renewable fuels and hydrogen. It also conducts energy trading activities focused principally on the marketing and trading of crude oil, natural gas, byproducts, refined products and power.

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