Analysts Set Suncor Energy Inc. (NYSE:SU) PT at $58.00

Suncor Energy Inc. (NYSE:SU) (TSE:SU) has been given an average recommendation of “Moderate Buy” by the nine research firms that are currently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $58.00.

A number of research analysts have weighed in on the company. StockNews.com downgraded Suncor Energy from a “buy” rating to a “hold” rating in a research note on Thursday, December 26th. Royal Bank of Canada restated an “outperform” rating and set a $66.00 target price on shares of Suncor Energy in a report on Friday, December 20th. Morgan Stanley downgraded shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 16th. Finally, Desjardins raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th.

Institutional Investors Weigh In On Suncor Energy

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC increased its holdings in Suncor Energy by 16.6% in the second quarter. Allspring Global Investments Holdings LLC now owns 77,434 shares of the oil and gas producer’s stock valued at $2,950,000 after purchasing an additional 11,040 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Suncor Energy by 57.5% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 49,000 shares of the oil and gas producer’s stock valued at $1,867,000 after purchasing an additional 17,884 shares during the last quarter. HB Wealth Management LLC bought a new position in shares of Suncor Energy during the second quarter valued at about $207,000. Signaturefd LLC grew its position in Suncor Energy by 1.5% in the 2nd quarter. Signaturefd LLC now owns 26,530 shares of the oil and gas producer’s stock worth $1,011,000 after purchasing an additional 402 shares in the last quarter. Finally, Atlas Capital Advisors LLC increased its stake in Suncor Energy by 19.6% in the 2nd quarter. Atlas Capital Advisors LLC now owns 3,866 shares of the oil and gas producer’s stock valued at $147,000 after buying an additional 634 shares during the last quarter. 67.37% of the stock is owned by institutional investors.

Suncor Energy Trading Up 1.1 %

Suncor Energy stock opened at $35.68 on Friday. The company has a market cap of $44.89 billion, a price-to-earnings ratio of 7.77, a P/E/G ratio of 2.43 and a beta of 1.11. The firm has a 50-day moving average of $38.09 and a 200-day moving average of $38.44. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 1.04. Suncor Energy has a one year low of $31.03 and a one year high of $41.94.

Suncor Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 24th. Investors of record on Tuesday, December 3rd were given a dividend of $0.4089 per share. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $1.64 annualized dividend and a dividend yield of 4.58%. Suncor Energy’s dividend payout ratio (DPR) is currently 36.60%.

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.