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

Key Points

• Suncor Energy Inc. has received an average recommendation of "Moderate Buy" from twelve analysts, with a consensus price target of C$62.67.
• Recent price target revisions include increases from Jefferies Financial Group to C$53.00 and from Wells Fargo to C$60.00, reflecting positive sentiment towards the stock.
• The company reported earnings of C$0.71 per share in its latest financial results, with a quarterly dividend of $0.57 indicating a 4.2% dividend yield.

Shares of Suncor Energy Inc. (TSE:SU - Get Free Report) NYSE: SU have been assigned an average recommendation of "Moderate Buy" from the twelve analysts that are covering the stock, Marketbeat reports. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is C$62.67.

A number of research firms have recently commented on SU. TD Securities raised their price target on Suncor Energy from C$62.00 to C$63.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Jefferies Financial Group increased their price target on shares of Suncor Energy from C$48.00 to C$53.00 in a report on Monday, July 14th. Raymond James Financial lifted their price objective on shares of Suncor Energy from C$57.00 to C$58.00 and gave the company a "market perform" rating in a report on Thursday, August 7th. Scotiabank upped their price objective on shares of Suncor Energy from C$60.00 to C$62.00 and gave the stock a "sector perform" rating in a research report on Wednesday, August 6th. Finally, Wells Fargo & Company upped their price objective on shares of Suncor Energy from C$59.00 to C$60.00 and gave the company an "overweight" rating in a research note on Thursday, June 26th.

Suncor Energy Price Performance

Suncor Energy stock traded down C$0.09 during midday trading on Monday, hitting C$53.48. The company's stock had a trading volume of 472,649 shares, compared to its average volume of 7,897,106. The stock's 50-day moving average price is C$53.37 and its 200-day moving average price is C$52.22. The company has a quick ratio of 0.83, a current ratio of 1.59 and a debt-to-equity ratio of 33.35. The company has a market capitalization of C$67.08 billion, a PE ratio of 8.44, a price-to-earnings-growth ratio of 0.15 and a beta of 1.47. Suncor Energy has a 12 month low of C$43.59 and a 12 month high of C$58.58.

Suncor Energy (TSE:SU - Get Free Report) NYSE: SU last announced its earnings results on Tuesday, August 5th. The company reported C$0.71 EPS for the quarter. Suncor Energy had a return on equity of 18.10% and a net margin of 15.15%. Analysts anticipate that Suncor Energy will post 4.4208333 earnings per share for the current fiscal year.

Suncor Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Wednesday, June 25th were issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend was Wednesday, June 4th. Suncor Energy's dividend payout ratio is currently 34.42%.

Insiders Place Their Bets

In other news, Senior Officer Jacqueline Sue Moore sold 25,585 shares of the firm's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of C$55.99, for a total transaction of C$1,432,478.57. Also, Director Russell Girling bought 10,000 shares of the stock in a transaction on Friday, June 6th. The stock was acquired at an average price of C$50.41 per share, with a total value of C$504,100.00. Corporate insiders own 0.01% of the company's stock.

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.