Suncor Energy (NYSE:SU) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Suncor Energy (NYSE:SU) (TSE:SU) from a hold rating to a buy rating in a report published on Tuesday morning.

Other equities research analysts have also issued research reports about the company. Cibc World Mkts raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 11th. Tudor Pickering upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 10th. Bank of America initiated coverage on Suncor Energy in a research report on Wednesday, February 26th. They set a “neutral” rating for the company. Morgan Stanley lowered shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a report on Monday, December 16th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $66.00 price target on shares of Suncor Energy in a report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $59.20.

Suncor Energy Stock Up 0.8 %

SU opened at $39.03 on Tuesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.33. The company has a market cap of $48.28 billion, a price-to-earnings ratio of 11.31, a PEG ratio of 2.94 and a beta of 1.11. Suncor Energy has a one year low of $33.81 and a one year high of $41.95. The business’s fifty day moving average is $38.11 and its two-hundred day moving average is $38.22.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings data on Wednesday, February 5th. The oil and gas producer reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.07. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. Analysts anticipate that Suncor Energy will post 3.42 EPS for the current fiscal year.

Suncor Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 4th were issued a $0.399 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.09%. Suncor Energy’s dividend payout ratio (DPR) is presently 45.51%.

Institutional Investors Weigh In On Suncor Energy

Institutional investors have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC lifted its stake in shares of Suncor Energy by 32.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 82,204 shares of the oil and gas producer’s stock valued at $3,035,000 after purchasing an additional 20,081 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in Suncor Energy by 86.0% in the fourth quarter. Jones Financial Companies Lllp now owns 67,848 shares of the oil and gas producer’s stock valued at $2,421,000 after buying an additional 31,366 shares during the period. Sage Investment Counsel LLC acquired a new position in Suncor Energy during the fourth quarter valued at approximately $300,000. J.W. Cole Advisors Inc. purchased a new stake in Suncor Energy during the fourth quarter worth approximately $236,000. Finally, Bank of New York Mellon Corp increased its position in shares of Suncor Energy by 104.2% in the fourth quarter. Bank of New York Mellon Corp now owns 3,083,440 shares of the oil and gas producer’s stock worth $110,017,000 after acquiring an additional 1,573,726 shares in the last quarter. Hedge funds and other institutional investors own 67.37% of the company’s stock.

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.