Suncor Energy (NYSE:SU) Stock Rating Raised to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Suncor Energy (NYSE:SU) (TSE:SU) from a hold rating to a strong-buy rating in a report issued on Monday,Zacks reports.

A number of other research firms have also recently weighed in on SU. Desjardins upgraded Suncor Energy to a “moderate buy” rating in a report on Thursday, July 16th. Wall Street Zen lowered shares of Suncor Energy from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st. Weiss Ratings raised shares of Suncor Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, July 29th. Morgan Stanley set a $106.00 target price on shares of Suncor Energy in a research note on Wednesday, August 19th. Finally, Scotiabank raised shares of Suncor Energy to a “strong-buy” rating in a report on Friday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $80.25.

Suncor Energy Trading Down 0.6%

Shares of SU opened at $68.34 on Monday. Suncor Energy has a 12 month low of $37.76 and a 12 month high of $72.06. The stock’s 50-day moving average is $67.08 and its two-hundred day moving average is $64.26. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.65 and a quick ratio of 1.08. The stock has a market cap of $79.94 billion, a PE ratio of 12.59, a P/E/G ratio of 0.50 and a beta of 0.36.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its earnings results on Tuesday, August 4th. The oil and gas producer reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.19. The business had revenue of $13.41 billion during the quarter, compared to analyst estimates of $11.68 billion. Suncor Energy had a return on equity of 20.05% and a net margin of 15.62%.During the same quarter last year, the firm earned $0.71 earnings per share. Equities analysts forecast that Suncor Energy will post 7.39 earnings per share for the current fiscal year.

Suncor Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 4th were given a C$0.60 dividend. The ex-dividend date was Friday, September 4th. This represents a $2.40 annualized dividend and a yield of 3.5%. Suncor Energy’s dividend payout ratio (DPR) is currently 31.86%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Suncor Energy in the 2nd quarter valued at approximately $816,551,000. The Manufacturers Life Insurance Company bought a new stake in Suncor Energy during the 2nd quarter valued at $790,952,000. Arrowstreet Capital Limited Partnership boosted its position in Suncor Energy by 121.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 26,085,360 shares of the oil and gas producer’s stock worth $1,724,954,000 after acquiring an additional 14,304,131 shares during the period. Canada Pension Plan Investment Board acquired a new position in Suncor Energy during the 2nd quarter worth $466,810,000. Finally, Bank of America Corp DE bought a new position in Suncor Energy in the 2nd quarter valued at about $351,892,000. 67.37% of the stock is owned by institutional investors and hedge funds.

Suncor Energy Company Profile

Suncor Energy Inc is an integrated energy company headquartered in Calgary, Alberta. Its operations span the development and production of crude oil from Canada’s oil sands, offshore petroleum production, refining, and the marketing and distribution of petroleum products.

The company produces synthetic crude oil, bitumen and conventional crude oil, which are processed through its refining operations into fuels and other refined products. Suncor markets fuel and convenience products through the Petro-Canada retail network and supplies commercial, wholesale and industrial customers.