Suncor Energy Inc. (NYSE:SU) Receives Average Recommendation of “Moderate Buy” from Brokerages

Suncor Energy Inc. (NYSE:SU) (TSE:SU) has been assigned an average rating of “Moderate Buy” from the thirteen research firms that are presently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $58.00.

Several analysts have recently commented on the stock. StockNews.com downgraded shares of Suncor Energy from a “buy” rating to a “hold” rating in a research report on Friday, March 14th. Royal Bank of Canada restated an “outperform” rating and issued a $66.00 price target on shares of Suncor Energy in a report on Tuesday, January 7th. Tudor Pickering raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 10th. Tudor, Pickering, Holt & Co. raised Suncor Energy from a “hold” rating to a “buy” rating in a research report on Monday, February 10th. Finally, Bank of America assumed coverage on Suncor Energy in a report on Wednesday, February 26th. They issued a “neutral” rating on the stock.

Suncor Energy Price Performance

Shares of NYSE SU opened at $37.48 on Thursday. The company has a market capitalization of $46.37 billion, a PE ratio of 10.86, a P/E/G ratio of 2.94 and a beta of 1.11. The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 0.21. Suncor Energy has a twelve month low of $33.81 and a twelve month high of $41.95. The firm has a fifty day simple moving average of $38.27 and a 200 day simple moving average of $38.17.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.07. Suncor Energy had a return on equity of 15.37% and a net margin of 11.80%. On average, sell-side analysts forecast that Suncor Energy will post 3.42 EPS for the current year.

Suncor Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 4th will be given a $0.399 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date is Tuesday, March 4th. Suncor Energy’s payout ratio is currently 45.51%.

Hedge Funds Weigh In On Suncor Energy

Hedge funds have recently bought and sold shares of the company. HHM Wealth Advisors LLC grew its holdings in shares of Suncor Energy by 62.1% in the fourth quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer’s stock valued at $30,000 after acquiring an additional 325 shares in the last quarter. Crowley Wealth Management Inc. bought a new position in Suncor Energy in the 4th quarter valued at $35,000. Lee Danner & Bass Inc. purchased a new stake in shares of Suncor Energy during the 4th quarter valued at $36,000. Golden State Wealth Management LLC bought a new stake in shares of Suncor Energy during the 4th quarter worth $39,000. Finally, Covestor Ltd boosted its holdings in shares of Suncor Energy by 30.5% in the 4th quarter. Covestor Ltd now owns 1,095 shares of the oil and gas producer’s stock worth $39,000 after buying an additional 256 shares during the last quarter. 67.37% of the stock is owned by hedge funds and other institutional investors.

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.