Suncor Energy Inc. (NYSE:SU) Given Consensus Rating of “Moderate Buy” by Analysts

Suncor Energy Inc. (NYSE:SU) (TSE:SU) has been assigned a consensus rating of “Moderate Buy” from the eight ratings firms that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $56.40.

SU has been the subject of several research analyst reports. StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Desjardins raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th.

Hedge Funds Weigh In On Suncor Energy

Large investors have recently made changes to their positions in the company. Intech Investment Management LLC boosted its stake in shares of Suncor Energy by 1,345.8% during the 3rd quarter. Intech Investment Management LLC now owns 468,415 shares of the oil and gas producer’s stock worth $17,309,000 after purchasing an additional 436,016 shares during the period. Aigen Investment Management LP bought a new stake in Suncor Energy during the 3rd quarter valued at about $1,376,000. DRW Securities LLC bought a new stake in Suncor Energy during the 3rd quarter valued at about $1,151,000. Assenagon Asset Management S.A. lifted its holdings in Suncor Energy by 90.9% during the 2nd 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 buying an additional 3,951,287 shares in the last quarter. Finally, Mediolanum International Funds Ltd lifted its holdings in Suncor Energy by 22.5% during the 3rd quarter. Mediolanum International Funds Ltd now owns 250,849 shares of the oil and gas producer’s stock valued at $9,245,000 after buying an additional 46,155 shares in the last quarter. 67.37% of the stock is owned by hedge funds and other institutional investors.

Suncor Energy Stock Performance

SU opened at $38.38 on Tuesday. The stock has a market capitalization of $48.29 billion, a price-to-earnings ratio of 8.36, a PEG ratio of 2.54 and a beta of 1.11. The company has a fifty day moving average of $39.26 and a 200 day moving average of $38.82. Suncor Energy has a fifty-two week low of $29.45 and a fifty-two week high of $41.94. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.04 and a current ratio of 1.59.

Suncor Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 24th. Investors of record on Tuesday, December 3rd will be paid a dividend of $0.4089 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This is a boost from Suncor Energy’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.26%. Suncor Energy’s payout ratio is currently 36.82%.

About Suncor Energy

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.