Suncor Energy (NYSE:SU) Downgraded by StockNews.com to Hold

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

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

Suncor Energy Trading Up 0.3 %

SU opened at $39.07 on Wednesday. Suncor Energy has a 52 week low of $27.59 and a 52 week high of $39.73. The company has a quick ratio of 0.88, a current ratio of 1.44 and a debt-to-equity ratio of 0.26. The business has a fifty day simple moving average of $37.15 and a 200-day simple moving average of $34.12. The firm has a market cap of $50.29 billion, a P/E ratio of 8.31, a P/E/G ratio of 3.38 and a beta of 1.11.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings data on Wednesday, February 21st. The oil and gas producer reported $0.93 EPS for the quarter, beating the consensus estimate of $0.80 by $0.13. The business had revenue of $10.39 billion during the quarter, compared to analyst estimates of $8.46 billion. Suncor Energy had a net margin of 16.33% and a return on equity of 16.08%. During the same quarter last year, the firm posted $1.33 earnings per share. On average, equities analysts expect that Suncor Energy will post 3.77 earnings per share for the current year.

Suncor Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Monday, March 4th were issued a $0.406 dividend. This is an increase from Suncor Energy’s previous quarterly dividend of $0.39. The ex-dividend date was Friday, March 1st. This represents a $1.62 annualized dividend and a dividend yield of 4.16%. Suncor Energy’s payout ratio is presently 34.04%.

Hedge Funds Weigh In On Suncor Energy

A number of large investors have recently modified their holdings of the business. Johnson Financial Group Inc. purchased a new stake in Suncor Energy during the fourth quarter worth about $25,000. Richardson Financial Services Inc. acquired a new stake in Suncor Energy in the fourth quarter valued at $25,000. Optiver Holding B.V. purchased a new position in shares of Suncor Energy in the third quarter valued at $29,000. Adirondack Trust Co. raised its stake in shares of Suncor Energy by 45.6% during the 4th quarter. Adirondack Trust Co. now owns 1,000 shares of the oil and gas producer’s stock worth $34,000 after buying an additional 313 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its position in shares of Suncor Energy by 43.2% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,038 shares of the oil and gas producer’s stock worth $33,000 after buying an additional 313 shares in the last quarter. 67.37% of the stock is owned by hedge funds and other 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.