Suncor Energy (NYSE:SU) Upgraded by Scotiabank to Hold Rating

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

A number of other analysts have also 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. Bank of America started coverage on shares of Suncor Energy in a research report on Wednesday, February 26th. They set a “neutral” rating for the company. Morgan Stanley lowered shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a report on Monday, December 16th. Royal Bank of Canada reiterated an “outperform” rating and set a $66.00 price target on shares of Suncor Energy in a research note on Tuesday, January 7th. Finally, Cibc World Mkts raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 11th. Four 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. According to data from MarketBeat, Suncor Energy has a consensus rating of “Moderate Buy” and an average price target of $58.00.

Suncor Energy Price Performance

Shares of NYSE SU opened at $37.46 on Wednesday. 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 firm’s 50-day moving average price is $38.22 and its 200-day moving average price is $38.15. The firm has a market capitalization of $46.34 billion, a P/E ratio of 10.86, a P/E/G ratio of 2.94 and a beta of 1.11. Suncor Energy has a 1-year low of $33.81 and a 1-year high of $41.95.

Suncor Energy (NYSE:SU) (TSE:SU) last announced 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%. Equities research analysts anticipate that Suncor Energy will post 3.42 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Advisors Asset Management Inc. boosted its holdings in shares of Suncor Energy by 10.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 46,229 shares of the oil and gas producer’s stock worth $1,707,000 after buying an additional 4,193 shares during the last quarter. King Luther Capital Management Corp boosted its stake in 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 acquiring an additional 1,147 shares during the last quarter. Banco Santander S.A. bought a new position in shares of Suncor Energy during the 3rd quarter valued at approximately $750,000. Charles Schwab Investment Management Inc. increased its stake in shares of Suncor Energy by 4.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,357,656 shares of the oil and gas producer’s stock worth $161,006,000 after purchasing 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 3rd quarter. Raymond James Trust N.A. now owns 22,508 shares of the oil and gas producer’s stock worth $831,000 after purchasing an additional 867 shares during the period. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Suncor Energy Company Profile

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.