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

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

SU has been the topic of several other research reports. Cibc World Mkts raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 11th. Tudor Pickering upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 10th. Royal Bank of Canada reiterated an “outperform” rating and set a $66.00 price target on shares of Suncor Energy in a report on Tuesday, January 7th. Bank of America started coverage on shares of Suncor Energy in a report on Wednesday, February 26th. They issued a “neutral” rating on the stock. Finally, Scotiabank raised shares of Suncor Energy to a “hold” rating in a research note on Wednesday, March 19th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $59.20.

Suncor Energy Stock Up 3.9 %

Shares of NYSE:SU opened at $33.48 on Wednesday. Suncor Energy has a 52-week low of $30.79 and a 52-week high of $41.95. The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 0.21. The business has a fifty day moving average of $37.20 and a two-hundred day moving average of $37.97. The stock has a market cap of $41.42 billion, a P/E ratio of 9.70, a PEG ratio of 2.94 and a beta of 0.79.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings data 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 net margin of 11.80% and a return on equity of 15.37%. On average, research analysts expect that Suncor Energy will post 3.42 earnings per share for the current year.

Suncor Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 4th were issued a $0.399 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.77%. The ex-dividend date was Tuesday, March 4th. Suncor Energy’s dividend payout ratio (DPR) is currently 45.51%.

Institutional Investors Weigh In On Suncor Energy

A number of hedge funds have recently added to or reduced their stakes in SU. Vanguard Group Inc. increased its position in shares of Suncor Energy by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 53,019,357 shares of the oil and gas producer’s stock worth $1,892,526,000 after acquiring an additional 323,714 shares during the period. Artisan Partners Limited Partnership increased its holdings in Suncor Energy by 0.7% during the 4th quarter. Artisan Partners Limited Partnership now owns 24,289,019 shares of the oil and gas producer’s stock worth $865,885,000 after purchasing an additional 169,700 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Suncor Energy by 0.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 23,308,055 shares of the oil and gas producer’s stock worth $831,631,000 after purchasing an additional 209,447 shares during the period. Toronto Dominion Bank raised its position in Suncor Energy by 3.0% in the 4th quarter. Toronto Dominion Bank now owns 19,098,225 shares of the oil and gas producer’s stock valued at $680,847,000 after purchasing an additional 552,018 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Suncor Energy by 4.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 10,981,927 shares of the oil and gas producer’s stock valued at $391,809,000 after buying an additional 445,613 shares during the period. 67.37% of the stock is currently owned by institutional investors and hedge funds.

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.