Suncor Energy (NYSE:SU) Raised to “Buy” at Desjardins

Suncor Energy (NYSE:SU) (TSE:SU) was upgraded by stock analysts at Desjardins from a “hold” rating to a “buy” rating in a report released on Thursday, Marketbeat reports.

SU has been the subject of a number of other research reports. StockNews.com upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 7th. BMO Capital Markets upgraded shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 7th. Wolfe Research initiated coverage on Suncor Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $68.00 price objective for the company. Finally, TD Securities raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Suncor Energy currently has a consensus rating of “Moderate Buy” and an average target price of $56.40.

Suncor Energy Stock Up 0.1 %

NYSE SU opened at $40.47 on Thursday. Suncor Energy has a 12 month low of $29.45 and a 12 month high of $41.94. The company has a market capitalization of $51.06 billion, a P/E ratio of 8.82, a PEG ratio of 2.81 and a beta of 1.12. The company’s 50 day simple moving average is $38.34 and its 200 day simple moving average is $38.75. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.46 and a quick ratio of 0.93.

Institutional Investors Weigh In On Suncor Energy

Several hedge funds and other institutional investors have recently made changes to their positions in SU. Vanguard Group Inc. increased its stake in Suncor Energy by 1.4% during the first quarter. Vanguard Group Inc. now owns 51,226,454 shares of the oil and gas producer’s stock valued at $1,890,768,000 after acquiring an additional 691,497 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Suncor Energy by 5.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,134,149 shares of the oil and gas producer’s stock worth $956,850,000 after buying an additional 1,209,073 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Suncor Energy by 1.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 23,048,048 shares of the oil and gas producer’s stock valued at $878,131,000 after purchasing an additional 366,432 shares during the last quarter. 1832 Asset Management L.P. boosted its holdings in Suncor Energy by 4.1% during the first quarter. 1832 Asset Management L.P. now owns 22,157,546 shares of the oil and gas producer’s stock worth $817,835,000 after buying an additional 868,475 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in Suncor Energy by 5.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 18,529,253 shares of the oil and gas producer’s stock valued at $683,916,000 after purchasing an additional 1,031,542 shares during the period. 67.37% of the stock is 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.