Suncor Energy Inc. (NYSE:SU) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Suncor Energy Inc. has received a consensus recommendation of "Moderate Buy" from eight research firms, with an average target price of $65.00.
• In its recent quarter, Suncor reported $0.51 EPS, slightly beating expectations, but revenue fell short at $8.81 billion compared to estimated $11.56 billion.
• The company increased its quarterly dividend to $0.4135 per share, representing a 4.0% dividend yield and a payout ratio of 51.08%.

Suncor Energy Inc. (NYSE:SU - Get Free Report) TSE: SU has been given a consensus recommendation of "Moderate Buy" by the eight research firms that are presently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $65.00.

Separately, Royal Bank Of Canada reiterated an "outperform" rating and issued a $65.00 price target on shares of Suncor Energy in a research note on Friday.

Hedge Funds Weigh In On Suncor Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in SU. Hanson & Doremus Investment Management increased its position in Suncor Energy by 143.5% in the 1st quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer's stock valued at $31,000 after acquiring an additional 465 shares during the period. Headlands Technologies LLC bought a new position in Suncor Energy during the second quarter worth $31,000. Salem Investment Counselors Inc. boosted its stake in Suncor Energy by 97.6% during the first quarter. Salem Investment Counselors Inc. now owns 820 shares of the oil and gas producer's stock worth $32,000 after acquiring an additional 405 shares in the last quarter. Maseco LLP bought a new position in shares of Suncor Energy in the second quarter valued at $32,000. Finally, N.E.W. Advisory Services LLC bought a new position in shares of Suncor Energy in the first quarter valued at $36,000. Institutional investors own 67.37% of the company's stock.

Suncor Energy Trading Up 0.8%

Shares of NYSE SU traded up $0.35 during midday trading on Friday, reaching $41.46. 754,942 shares of the stock were exchanged, compared to its average volume of 4,598,645. The business has a 50-day simple moving average of $40.55 and a two-hundred day simple moving average of $38.13. The company has a market capitalization of $50.12 billion, a price-to-earnings ratio of 12.76, a P/E/G ratio of 3.35 and a beta of 0.78. Suncor Energy has a 12 month low of $30.79 and a 12 month high of $43.48. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.26 and a quick ratio of 0.77.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last posted its quarterly earnings data on Tuesday, August 5th. The oil and gas producer reported $0.51 EPS for the quarter, beating the consensus estimate of $0.50 by $0.01. Suncor Energy had a net margin of 11.35% and a return on equity of 13.21%. The business had revenue of $8.81 billion for the quarter, compared to analysts' expectations of $11.56 billion. During the same period in the previous year, the firm posted $1.27 EPS. As a group, equities research analysts expect that Suncor Energy will post 3.42 EPS for the current year.

Suncor Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th were issued a dividend of $0.4135 per share. This is a boost from Suncor Energy's previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $1.65 dividend on an annualized basis and a dividend yield of 4.0%. Suncor Energy's payout ratio is currently 51.08%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.