Suncor Energy (NYSE:SU) Upgraded 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 report published on Thursday morning.

SU has been the subject of several other research reports. Tudor, Pickering, Holt & Co. raised Suncor Energy from a “hold” rating to a “buy” rating in a research note on Monday, February 10th. Bank of America began coverage on shares of Suncor Energy in a report on Wednesday, February 26th. They set a “neutral” rating on the stock. Tudor Pickering raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 10th. Cibc World Mkts upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 11th. Finally, Desjardins upgraded Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Suncor Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.00.

Suncor Energy Stock Performance

NYSE SU opened at $34.81 on Thursday. Suncor Energy has a 52-week low of $33.81 and a 52-week high of $41.94. The company has a fifty day moving average of $38.28 and a 200-day moving average of $38.46. The company has a market capitalization of $43.21 billion, a P/E ratio of 10.09, a P/E/G ratio of 2.94 and a beta of 1.12. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.33.

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

Suncor Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 4th will be given a dividend of $0.399 per share. This represents a $1.60 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date is Tuesday, March 4th. Suncor Energy’s payout ratio is 45.22%.

Institutional Investors Weigh In On Suncor Energy

A number of large investors have recently made changes to their positions in SU. HHM Wealth Advisors LLC lifted its stake in Suncor Energy by 62.1% in the fourth quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer’s stock worth $30,000 after acquiring an additional 325 shares during the period. Crowley Wealth Management Inc. bought a new position in Suncor Energy in the 4th quarter worth $35,000. Lee Danner & Bass Inc. purchased a new stake in shares of Suncor Energy in the 4th quarter worth about $36,000. Golden State Wealth Management LLC bought a new stake in shares of Suncor Energy during the 4th quarter valued at about $39,000. Finally, Covestor Ltd increased its position in shares of Suncor Energy by 30.5% during the fourth quarter. Covestor Ltd now owns 1,095 shares of the oil and gas producer’s stock valued at $39,000 after buying an additional 256 shares during the period. 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.