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

Suncor Energy Inc. (NYSE:SU) (TSE:SU) has been given a consensus rating of “Moderate Buy” by the nine research firms that are presently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $58.00.

A number of brokerages have issued reports on SU. Morgan Stanley downgraded Suncor Energy from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 16th. StockNews.com upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $66.00 price objective on shares of Suncor Energy in a research report on Tuesday, January 7th. Finally, Desjardins raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th.

Suncor Energy Stock Performance

SU stock opened at $38.93 on Wednesday. The company has a quick ratio of 1.04, a current ratio of 1.59 and a debt-to-equity ratio of 0.24. The firm has a market cap of $48.45 billion, a PE ratio of 8.48, a P/E/G ratio of 3.29 and a beta of 1.12. The business has a 50 day moving average of $38.05 and a 200-day moving average of $38.55. Suncor Energy has a 12-month low of $31.25 and a 12-month high of $41.94.

Suncor Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 3rd were given a $0.4089 dividend. The ex-dividend date was Tuesday, December 3rd. This represents a $1.64 annualized dividend and a dividend yield of 4.20%. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.40. Suncor Energy’s payout ratio is 35.08%.

Institutional Investors Weigh In On Suncor Energy

Several institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company grew its position in shares of Suncor Energy by 5.1% in the second quarter. The Manufacturers Life Insurance Company now owns 25,134,149 shares of the oil and gas producer’s stock valued at $956,850,000 after purchasing an additional 1,209,073 shares in the last quarter. Toronto Dominion Bank grew its holdings in Suncor Energy by 1.8% during the 3rd quarter. Toronto Dominion Bank now owns 18,546,207 shares of the oil and gas producer’s stock valued at $684,726,000 after buying an additional 333,440 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of Suncor Energy by 1.3% during the third quarter. CIBC Asset Management Inc now owns 13,942,455 shares of the oil and gas producer’s stock valued at $516,728,000 after buying an additional 180,533 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Suncor Energy by 23.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,695,560 shares of the oil and gas producer’s stock worth $357,827,000 after buying an additional 1,829,936 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Suncor Energy by 4.5% in the second quarter. Legal & General Group Plc now owns 7,643,418 shares of the oil and gas producer’s stock valued at $291,308,000 after acquiring an additional 329,373 shares during the period. Hedge funds and other institutional investors own 67.37% of the company’s stock.

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.