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

Suncor Energy Inc. (NYSE:SU) (TSE:SU) has received a consensus recommendation of “Moderate Buy” from the eight research firms that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $56.40.

SU has been the topic of several research reports. StockNews.com upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 7th. Wolfe Research initiated coverage on shares of Suncor Energy in a report on Thursday, July 18th. They set an “outperform” rating and a $68.00 target price on the stock. BMO Capital Markets upgraded shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 7th. TD Securities raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. Finally, Desjardins raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday.

Institutional Trading of Suncor Energy

Institutional investors have recently added to or reduced their stakes in the business. Aigen Investment Management LP bought a new position in shares of Suncor Energy during the third quarter valued at $1,376,000. BNP Paribas Financial Markets boosted its holdings in shares of Suncor Energy by 2,358.4% during the 1st quarter. BNP Paribas Financial Markets now owns 17,209 shares of the oil and gas producer’s stock valued at $635,000 after acquiring an additional 16,509 shares during the last quarter. Empowered Funds LLC bought a new stake in shares of Suncor Energy in the first quarter worth approximately $2,940,000. Assenagon Asset Management S.A. raised its holdings in shares of Suncor Energy by 90.9% during the second quarter. Assenagon Asset Management S.A. now owns 8,299,876 shares of the oil and gas producer’s stock valued at $316,226,000 after purchasing an additional 3,951,287 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in Suncor Energy by 5.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 18,529,253 shares of the oil and gas producer’s stock valued at $683,916,000 after purchasing an additional 1,031,542 shares during the period. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Suncor Energy Stock Performance

Suncor Energy stock opened at $40.44 on Friday. Suncor Energy has a fifty-two week low of $29.45 and a fifty-two week high of $41.94. The stock’s 50 day simple moving average is $38.29 and its two-hundred day simple moving average is $38.74. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.93 and a current ratio of 1.46. The stock has a market cap of $51.02 billion, a price-to-earnings ratio of 8.63, a PEG ratio of 2.70 and a beta of 1.12.

Suncor Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 24th. Investors of record on Tuesday, December 3rd will be issued a $0.4089 dividend. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date is Tuesday, December 3rd. Suncor Energy’s payout ratio is presently 35.29%.

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.