Suncor Energy (NYSE:SU) Rating Lowered to Hold at StockNews.com

StockNews.com cut shares of Suncor Energy (NYSE:SU) (TSE:SU) from a buy rating to a hold rating in a research report sent to investors on Thursday morning.

Several other brokerages also recently commented on SU. TD Securities upgraded Suncor Energy from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. Scotiabank cut their target price on shares of Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. Wolfe Research initiated coverage on Suncor Energy in a research report on Thursday, July 18th. They issued an “outperform” rating and a $68.00 price target on the stock. Finally, BMO Capital Markets raised Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Suncor Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.83.

Suncor Energy Stock Up 0.9 %

Shares of Suncor Energy stock opened at $38.98 on Thursday. The stock has a 50-day simple moving average of $39.04 and a 200-day simple moving average of $38.72. Suncor Energy has a 52-week low of $29.45 and a 52-week high of $41.94. The firm has a market cap of $49.18 billion, a price-to-earnings ratio of 9.04, a P/E/G ratio of 2.69 and a beta of 1.12. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.46 and a quick ratio of 0.93.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its earnings results on Tuesday, August 6th. The oil and gas producer reported $1.27 EPS for the quarter, topping the consensus estimate of $0.76 by $0.51. The company had revenue of $12.90 billion during the quarter, compared to the consensus estimate of $9.30 billion. Suncor Energy had a net margin of 14.40% and a return on equity of 16.22%. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.71 earnings per share. On average, equities research analysts expect that Suncor Energy will post 3.71 earnings per share for the current fiscal year.

Suncor Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th were given a $0.395 dividend. This represents a $1.58 annualized dividend and a yield of 4.05%. The ex-dividend date of this dividend was Wednesday, September 4th. Suncor Energy’s dividend payout ratio (DPR) is presently 37.59%.

Institutional Investors Weigh In On Suncor Energy

Large investors have recently modified their holdings of the stock. Toronto Dominion Bank lifted its holdings in shares of Suncor Energy by 59.7% during the first quarter. Toronto Dominion Bank now owns 17,606,934 shares of the oil and gas producer’s stock valued at $649,872,000 after acquiring an additional 6,580,260 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Suncor Energy by 90.9% in the second quarter. Assenagon Asset Management S.A. now owns 8,299,876 shares of the oil and gas producer’s stock worth $316,226,000 after acquiring an additional 3,951,287 shares during the last quarter. National Bank of Canada FI lifted its position in shares of Suncor Energy by 60.7% during the second quarter. National Bank of Canada FI now owns 8,661,861 shares of the oil and gas producer’s stock worth $328,876,000 after purchasing an additional 3,272,896 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Suncor Energy by 305.9% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,725,000 shares of the oil and gas producer’s stock valued at $63,687,000 after purchasing an additional 1,300,000 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Suncor Energy by 5.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,134,149 shares of the oil and gas producer’s stock worth $956,850,000 after buying an additional 1,209,073 shares in the last quarter. 67.37% of the stock is currently owned by 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.