Suncor Energy (NYSE:SU) Lifted 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 research note issued to investors on Monday.

A number of other equities analysts have also recently issued reports on the company. TD Securities lifted their target price on Suncor Energy from $52.00 to $57.00 and gave the stock a hold rating in a report on Wednesday, May 22nd. Raymond James upgraded Suncor Energy to a hold rating in a report on Tuesday, May 28th. The Goldman Sachs Group upped their price objective on shares of Suncor Energy from $38.00 to $45.00 and gave the company a buy rating in a research note on Thursday, May 23rd. Finally, Morgan Stanley lifted their target price on shares of Suncor Energy from $50.00 to $52.00 and gave the stock an overweight rating in a research report on Thursday, March 28th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $51.67.

Suncor Energy Stock Performance

SU stock opened at $38.00 on Monday. The company has a 50-day simple moving average of $38.77 and a 200 day simple moving average of $35.63. The company has a market capitalization of $48.70 billion, a P/E ratio of 8.46, a PEG ratio of 3.58 and a beta of 1.11. The company has a quick ratio of 0.97, a current ratio of 1.51 and a debt-to-equity ratio of 0.25. Suncor Energy has a fifty-two week low of $28.26 and a fifty-two week high of $41.50.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results on Tuesday, May 7th. The oil and gas producer reported $1.05 EPS for the quarter, topping the consensus estimate of $0.90 by $0.15. Suncor Energy had a return on equity of 15.69% and a net margin of 15.38%. The firm had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $8.64 billion. Sell-side analysts predict that Suncor Energy will post 3.52 earnings per share for the current fiscal year.

Suncor Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 25th. Stockholders of record on Tuesday, June 4th were paid a $0.395 dividend. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $1.58 dividend on an annualized basis and a dividend yield of 4.16%. Suncor Energy’s payout ratio is presently 35.19%.

Institutional Investors Weigh In On Suncor Energy

Hedge funds have recently modified their holdings of the business. Benjamin F. Edwards & Company Inc. raised its holdings in Suncor Energy by 43.2% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,038 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 313 shares in the last quarter. Adirondack Trust Co. raised its stake in shares of Suncor Energy by 45.6% in the fourth quarter. Adirondack Trust Co. now owns 1,000 shares of the oil and gas producer’s stock valued at $34,000 after purchasing an additional 313 shares in the last quarter. Independence Bank of Kentucky lifted its position in Suncor Energy by 6.7% in the first quarter. Independence Bank of Kentucky now owns 5,050 shares of the oil and gas producer’s stock worth $186,000 after purchasing an additional 315 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Suncor Energy by 16.0% during the first quarter. EverSource Wealth Advisors LLC now owns 2,730 shares of the oil and gas producer’s stock worth $104,000 after buying an additional 377 shares in the last quarter. Finally, First Financial Corp IN increased its holdings in Suncor Energy by 3.3% in the 4th quarter. First Financial Corp IN now owns 12,422 shares of the oil and gas producer’s stock valued at $398,000 after buying an additional 393 shares during the period. 67.37% of the stock is owned by institutional investors.

Suncor Energy Company Profile

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.