Scotiabank Upgrades Suncor Energy (NYSE:SU) to “Hold”

Suncor Energy (NYSE:SU) (TSE:SU) was upgraded by research analysts at Scotiabank to a “hold” rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other equities analysts also recently commented on SU. Tudor, Pickering, Holt & Co. upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Monday, February 10th. Tudor Pickering upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 10th. Morgan Stanley downgraded shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 16th. Bank of America assumed coverage on shares of Suncor Energy in a research note on Wednesday, February 26th. They set a “neutral” rating for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $66.00 target price on shares of Suncor Energy in a research note on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $58.00.

Suncor Energy Stock Performance

NYSE:SU opened at $37.46 on Wednesday. The company has a fifty day simple moving average of $38.22 and a two-hundred day simple moving average of $38.15. The company has a market cap of $46.34 billion, a price-to-earnings ratio of 10.86, a price-to-earnings-growth ratio of 2.94 and a beta of 1.11. The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 0.21. Suncor Energy has a 52 week low of $33.81 and a 52 week high of $41.95.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 EPS for the quarter, topping 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%. As a group, equities analysts anticipate that Suncor Energy will post 3.42 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Suncor Energy

A number of institutional investors and hedge funds have recently made changes to their positions in SU. Advisors Asset Management Inc. raised its holdings in shares of Suncor Energy by 10.0% in the third quarter. Advisors Asset Management Inc. now owns 46,229 shares of the oil and gas producer’s stock valued at $1,707,000 after buying an additional 4,193 shares during the last quarter. King Luther Capital Management Corp raised its holdings in shares of Suncor Energy by 3.2% in the third quarter. King Luther Capital Management Corp now owns 37,290 shares of the oil and gas producer’s stock valued at $1,377,000 after buying an additional 1,147 shares during the last quarter. Banco Santander S.A. purchased a new stake in shares of Suncor Energy in the third quarter valued at about $750,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Suncor Energy by 4.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,357,656 shares of the oil and gas producer’s stock valued at $161,006,000 after buying an additional 169,916 shares during the last quarter. Finally, Raymond James Trust N.A. raised its holdings in shares of Suncor Energy by 4.0% in the third quarter. Raymond James Trust N.A. now owns 22,508 shares of the oil and gas producer’s stock valued at $831,000 after buying an additional 867 shares during the last quarter. 67.37% of the stock is owned by hedge funds and other institutional investors.

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.