StockNews.com Upgrades Suncor Energy (NYSE:SU) to “Buy”

StockNews.com upgraded shares of Suncor Energy (NYSE:SU) (TSE:SU) from a hold rating to a buy rating in a research report released on Friday.

Separately, Morgan Stanley increased their target price on Suncor Energy from $50.00 to $52.00 and gave the company an overweight rating in a research report on Thursday, March 28th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Suncor Energy presently has a consensus rating of Moderate Buy and an average price target of $52.00.

Suncor Energy Price Performance

Shares of SU stock opened at $37.69 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.44 and a debt-to-equity ratio of 0.26. Suncor Energy has a twelve month low of $27.59 and a twelve month high of $39.32. The company has a market cap of $48.52 billion, a P/E ratio of 8.02, a P/E/G ratio of 3.51 and a beta of 1.13. The business has a fifty day simple moving average of $35.17 and a 200 day simple moving average of $33.54.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Wednesday, February 21st. The oil and gas producer reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.13. Suncor Energy had a return on equity of 16.08% and a net margin of 16.33%. The business had revenue of $10.39 billion during the quarter, compared to the consensus estimate of $8.46 billion. During the same period in the prior year, the company earned $1.33 EPS. On average, sell-side analysts forecast that Suncor Energy will post 3.63 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 4th were given a $0.406 dividend. The ex-dividend date of this dividend was Friday, March 1st. This is an increase from Suncor Energy’s previous quarterly dividend of $0.39. This represents a $1.62 annualized dividend and a yield of 4.31%. Suncor Energy’s dividend payout ratio (DPR) is currently 34.04%.

Hedge Funds Weigh In On Suncor Energy

Large investors have recently bought and sold shares of the company. Pinnacle Associates Ltd. increased its stake in shares of Suncor Energy by 0.6% in the third quarter. Pinnacle Associates Ltd. now owns 47,669 shares of the oil and gas producer’s stock valued at $1,639,000 after buying an additional 300 shares during the period. Hexagon Capital Partners LLC increased its stake in shares of Suncor Energy by 19.0% in the third quarter. Hexagon Capital Partners LLC now owns 1,931 shares of the oil and gas producer’s stock valued at $66,000 after buying an additional 308 shares during the period. Benjamin F. Edwards & Company Inc. increased its stake in shares of Suncor Energy by 43.2% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,038 shares of the oil and gas producer’s stock valued at $33,000 after buying an additional 313 shares during the period. Adirondack Trust Co. increased its stake in shares of Suncor Energy by 45.6% in the fourth quarter. Adirondack Trust Co. now owns 1,000 shares of the oil and gas producer’s stock valued at $34,000 after buying an additional 313 shares during the period. Finally, Venture Visionary Partners LLC increased its stake in shares of Suncor Energy by 4.6% in the fourth quarter. Venture Visionary Partners LLC now owns 7,231 shares of the oil and gas producer’s stock valued at $232,000 after buying an additional 316 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.