Suncor Energy (NYSE:SU) Shares Up 3.5% - Still a Buy?

Suncor Energy Inc. (NYSE:SU - Get Free Report) TSE: SU was up 3.5% during mid-day trading on Friday . The company traded as high as $40.64 and last traded at $40.45. Approximately 2,618,551 shares traded hands during trading, a decline of 42% from the average daily volume of 4,480,213 shares. The stock had previously closed at $39.09.

Wall Street Analysts Forecast Growth

SU has been the subject of a number of recent analyst reports. Scotiabank raised shares of Suncor Energy to a "hold" rating in a report on Wednesday, March 19th. Bank of America initiated coverage on Suncor Energy in a research note on Wednesday, February 26th. They issued a "neutral" rating for the company. Finally, Wall Street Zen downgraded Suncor Energy from a "buy" rating to a "hold" rating in a research report on Thursday, April 17th. Four research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Suncor Energy currently has a consensus rating of "Moderate Buy" and an average target price of $64.67.

Suncor Energy Price Performance

The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.33. The stock has a market capitalization of $49.73 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 2.94 and a beta of 0.79. The stock's 50 day moving average is $35.50 and its two-hundred day moving average is $36.89.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last announced its earnings results on Tuesday, May 6th. The oil and gas producer reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.86 by $0.05. The business had revenue of $9.10 billion during the quarter, compared to analysts' expectations of $13.39 billion. Suncor Energy had a return on equity of 15.37% and a net margin of 11.80%. During the same quarter in the prior year, the firm earned $1.41 earnings per share. On average, equities analysts anticipate that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Wednesday, June 4th will be paid a dividend of $0.4133 per share. This represents a $1.65 annualized dividend and a yield of 4.06%. The ex-dividend date is Wednesday, June 4th. This is a boost from Suncor Energy's previous quarterly dividend of $0.40. Suncor Energy's payout ratio is 47.55%.

Institutional Investors Weigh In On Suncor Energy

A number of hedge funds have recently modified their holdings of SU. Jones Financial Companies Lllp raised its holdings in Suncor Energy by 86.0% in the 4th quarter. Jones Financial Companies Lllp now owns 67,848 shares of the oil and gas producer's stock valued at $2,421,000 after acquiring an additional 31,366 shares during the last quarter. Sage Investment Counsel LLC acquired a new stake in shares of Suncor Energy in the fourth quarter valued at approximately $300,000. J.W. Cole Advisors Inc. purchased a new position in Suncor Energy during the fourth quarter worth approximately $236,000. Bank of New York Mellon Corp boosted its stake in Suncor Energy by 104.2% during the fourth quarter. Bank of New York Mellon Corp now owns 3,083,440 shares of the oil and gas producer's stock worth $110,017,000 after buying an additional 1,573,726 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Suncor Energy by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,457,325 shares of the oil and gas producer's stock valued at $159,030,000 after buying an additional 99,669 shares in the last quarter. 67.37% of the stock is currently owned by institutional investors and hedge funds.

About Suncor Energy

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.