Scotiabank Upgrades Suncor Energy (NYSE:SU) to “Hold”

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

A number of other research analysts have also weighed in on SU. Bank of America assumed coverage on shares of Suncor Energy in a research note on Wednesday, February 26th. They issued a “neutral” rating on the stock. Cibc World Mkts raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 11th. Royal Bank of Canada reissued an “outperform” rating and issued a $66.00 target price on shares of Suncor Energy in a research note on Tuesday, January 7th. Tudor Pickering raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 10th. Finally, Tudor, Pickering, Holt & Co. raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Monday, February 10th. Four investment 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, the company presently has an average rating of “Moderate Buy” and an average target price of $58.00.

Suncor Energy Trading Down 0.7 %

Shares of Suncor Energy stock opened at $37.46 on Wednesday. The firm has a market capitalization of $46.34 billion, a PE ratio of 10.86, a P/E/G ratio of 2.94 and a beta of 1.11. Suncor Energy has a twelve month low of $33.81 and a twelve month high of $41.95. The firm’s 50-day moving average price is $38.22 and its 200 day moving average price is $38.15. The company has a current ratio of 1.33, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21.

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 for the quarter, beating analysts’ consensus estimates of $0.82 by $0.07. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. On average, sell-side analysts predict that Suncor Energy will post 3.42 EPS for the current fiscal year.

Institutional Trading of Suncor Energy

Several institutional investors have recently made changes to their positions in the company. HHM Wealth Advisors LLC increased its holdings in Suncor Energy by 62.1% in the 4th quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer’s stock valued at $30,000 after purchasing an additional 325 shares during the last quarter. Crowley Wealth Management Inc. acquired a new stake in Suncor Energy in the 4th quarter valued at approximately $35,000. Lee Danner & Bass Inc. acquired a new stake in Suncor Energy in the 4th quarter valued at approximately $36,000. Golden State Wealth Management LLC acquired a new stake in Suncor Energy in the 4th quarter valued at approximately $39,000. Finally, Covestor Ltd increased its holdings in Suncor Energy by 30.5% in the 4th 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 last quarter. 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.