Suncor Energy (NYSE:SU) Lowered to “Hold” Rating by StockNews.com

StockNews.com lowered shares of Suncor Energy (NYSE:SU) (TSE:SU) from a buy rating to a hold rating in a research report sent to investors on Thursday morning.

Several other brokerages also recently weighed in on SU. Royal Bank of Canada restated an “outperform” rating and set a $66.00 price objective on shares of Suncor Energy in a research 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 upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Suncor Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.00.

Suncor Energy Stock Performance

Shares of NYSE:SU opened at $35.16 on Thursday. The company’s 50 day simple moving average is $38.37 and its 200 day simple moving average is $38.49. 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 1 year low of $31.03 and a 1 year high of $41.94. The stock has a market capitalization of $44.24 billion, a price-to-earnings ratio of 7.66, a price-to-earnings-growth ratio of 2.43 and a beta of 1.11.

Suncor Energy Increases Dividend

The firm also recently announced 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. The ex-dividend date was Tuesday, December 3rd. This is an increase from Suncor Energy’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a yield of 4.65%. Suncor Energy’s dividend payout ratio (DPR) is currently 36.60%.

Hedge Funds Weigh In On Suncor Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cullen Investment Group LTD. increased its stake in shares of Suncor Energy by 0.8% in the third quarter. Cullen Investment Group LTD. now owns 33,106 shares of the oil and gas producer’s stock valued at $1,222,000 after buying an additional 262 shares during the period. Richardson Financial Services Inc. boosted its holdings in Suncor Energy by 82.8% in the second quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer’s stock valued at $28,000 after acquiring an additional 328 shares during the last quarter. Coldstream Capital Management Inc. increased its position in Suncor Energy by 5.0% during the 3rd quarter. Coldstream Capital Management Inc. now owns 7,486 shares of the oil and gas producer’s stock valued at $276,000 after purchasing an additional 354 shares during the period. X Square Capital LLC raised its holdings in Suncor Energy by 0.5% during the 2nd quarter. X Square Capital LLC now owns 79,664 shares of the oil and gas producer’s stock worth $3,035,000 after purchasing an additional 388 shares during the last quarter. Finally, Signaturefd LLC lifted its position in shares of 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 during the period. 67.37% of the stock is currently owned by institutional investors and hedge funds.

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.