Suncor Energy (NYSE:SU) Upgraded 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 released on Tuesday morning.

SU has been the subject of a number of other research reports. Cibc World Mkts upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 11th. Scotiabank raised Suncor Energy to a “hold” rating in a report on Wednesday, March 19th. Bank of America began coverage on Suncor Energy in a research report on Wednesday, February 26th. They set a “neutral” rating on the stock. Tudor, Pickering, Holt & Co. upgraded Suncor Energy from a “hold” rating to a “buy” rating in a report on Monday, February 10th. Finally, Morgan Stanley lowered Suncor Energy from an “overweight” rating to an “equal weight” rating in a report on Monday, December 16th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $59.20.

Suncor Energy Trading Down 5.9 %

SU stock opened at $36.81 on Tuesday. Suncor Energy has a 12-month low of $33.81 and a 12-month high of $41.95. The business’s 50-day moving average is $38.05 and its 200 day moving average is $38.22. The company has a current ratio of 1.33, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. The stock has a market cap of $45.53 billion, a price-to-earnings ratio of 10.67, a PEG ratio of 2.94 and a beta of 1.11.

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

Suncor Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 4th were paid a dividend of $0.399 per share. This represents a $1.60 annualized dividend and a yield of 4.34%. The ex-dividend date of this dividend was Tuesday, March 4th. Suncor Energy’s dividend payout ratio (DPR) is presently 45.51%.

Hedge Funds Weigh In On Suncor Energy

Several large investors have recently made changes to their positions in the stock. Covestor Ltd raised its position in Suncor Energy by 30.5% in the fourth quarter. Covestor Ltd now owns 1,095 shares of the oil and gas producer’s stock valued at $39,000 after purchasing an additional 256 shares during the period. Principal Securities Inc. grew its stake in shares of Suncor Energy by 2.2% in the fourth quarter. Principal Securities Inc. now owns 12,423 shares of the oil and gas producer’s stock valued at $443,000 after buying an additional 265 shares in the last quarter. Stifel Financial Corp raised its holdings in shares of Suncor Energy by 0.3% in the 4th quarter. Stifel Financial Corp now owns 95,508 shares of the oil and gas producer’s stock valued at $3,408,000 after buying an additional 265 shares during the period. X Square Capital LLC lifted its stake in Suncor Energy by 0.3% during the 4th quarter. X Square Capital LLC now owns 82,720 shares of the oil and gas producer’s stock worth $2,951,000 after acquiring an additional 267 shares in the last quarter. Finally, UMB Bank n.a. lifted its stake in Suncor Energy by 27.5% during the 4th quarter. UMB Bank n.a. now owns 1,389 shares of the oil and gas producer’s stock worth $50,000 after acquiring an additional 300 shares in the last quarter. 67.37% of the stock is currently 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.