Suncor Energy Inc. (NYSE:SU – Get Free Report) (TSE:SU) has earned an average rating of “Buy” from the eight ratings firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $72.00.
SU has been the subject of a number of analyst reports. Weiss Ratings upgraded Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, May 6th. Royal Bank Of Canada increased their price target on Suncor Energy from $75.00 to $89.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 1st. Wall Street Zen upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. JPMorgan Chase & Co. upgraded Suncor Energy from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $46.15 to $54.00 in a research note on Tuesday, January 20th. Finally, Zacks Research upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 2nd.
View Our Latest Stock Report on Suncor Energy
Suncor Energy Trading Up 2.3%
Suncor Energy (NYSE:SU – Get Free Report) (TSE:SU) last issued its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). Suncor Energy had a return on equity of 13.96% and a net margin of 12.29%.The business had revenue of $10.41 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the previous year, the company posted $1.31 EPS. On average, analysts predict that Suncor Energy will post 6.79 EPS for the current fiscal year.
Suncor Energy Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th will be given a dividend of $0.60 per share. The ex-dividend date is Thursday, June 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.5%. Suncor Energy’s dividend payout ratio (DPR) is presently 46.19%.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. Atlantic Edge Private Wealth Management LLC grew its position in shares of Suncor Energy by 54.9% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 635 shares of the oil and gas producer’s stock valued at $28,000 after purchasing an additional 225 shares in the last quarter. Richardson Financial Services Inc. grew its position in shares of Suncor Energy by 64.1% during the third quarter. Richardson Financial Services Inc. now owns 704 shares of the oil and gas producer’s stock valued at $29,000 after purchasing an additional 275 shares in the last quarter. 1 North Wealth Services LLC purchased a new position in shares of Suncor Energy during the fourth quarter valued at about $32,000. Smartleaf Asset Management LLC grew its position in shares of Suncor Energy by 95.8% during the third quarter. Smartleaf Asset Management LLC now owns 793 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 388 shares in the last quarter. Finally, Cassaday & Co Wealth Management LLC purchased a new position in shares of Suncor Energy during the first quarter valued at about $53,000. Hedge funds and other institutional investors own 67.37% of the company’s stock.
Suncor Energy Company Profile
Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company’s operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.
Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.
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