Suncor Energy (NYSE:SU) Stock Rating Lowered by Morgan Stanley

Suncor Energy (NYSE:SU) (TSE:SU) was downgraded by Morgan Stanley from an “overweight” rating to an “equal weight” rating in a note issued to investors on Monday,Briefing.com Automated Import reports.

A number of other research firms have also recently issued reports on SU. Desjardins upgraded Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $56.40.

Suncor Energy Trading Down 1.1 %

NYSE SU opened at $36.78 on Monday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 1.04. The stock’s 50-day moving average is $39.16 and its 200-day moving average is $38.72. Suncor Energy has a one year low of $30.89 and a one year high of $41.94. The firm has a market cap of $46.28 billion, a P/E ratio of 8.01, a P/E/G ratio of 2.43 and a beta of 1.11.

Institutional Investors Weigh In On Suncor Energy

Institutional investors and hedge funds have recently made changes to their positions in the stock. Franklin Resources Inc. increased its holdings in Suncor Energy by 0.8% during the third quarter. Franklin Resources Inc. now owns 3,619,354 shares of the oil and gas producer’s stock worth $146,948,000 after buying an additional 29,014 shares during the last quarter. Peapack Gladstone Financial Corp bought a new position in shares of Suncor Energy in the 3rd quarter valued at about $206,000. Synovus Financial Corp increased its stake in shares of Suncor Energy by 11.7% during the 3rd quarter. Synovus Financial Corp now owns 81,371 shares of the oil and gas producer’s stock worth $3,004,000 after purchasing an additional 8,519 shares during the last quarter. Tidal Investments LLC raised its holdings in shares of Suncor Energy by 59.6% in the 3rd quarter. Tidal Investments LLC now owns 21,971 shares of the oil and gas producer’s stock valued at $811,000 after purchasing an additional 8,207 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Suncor Energy in the 3rd quarter valued at about $104,000. 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.