Suncor Energy (NYSE:SU) Rating Increased 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 research report sent to investors on Tuesday.

Other analysts also recently issued research reports about the stock. Desjardins raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. TD Securities raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. Finally, BMO Capital Markets upgraded Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.40.

Suncor Energy Price Performance

Shares of NYSE SU opened at $40.98 on Tuesday. Suncor Energy has a fifty-two week low of $29.45 and a fifty-two week high of $41.94. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.04 and a current ratio of 1.59. The company has a market cap of $51.70 billion, a PE ratio of 8.93, a P/E/G ratio of 2.79 and a beta of 1.12. The business has a 50-day simple moving average of $38.56 and a two-hundred day simple moving average of $38.81.

Suncor Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 3rd will be issued a $0.4089 dividend. This represents a $1.64 annualized dividend and a dividend yield of 3.99%. The ex-dividend date is Tuesday, December 3rd. This is a boost from Suncor Energy’s previous quarterly dividend of $0.40. Suncor Energy’s payout ratio is 35.29%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company boosted its position in Suncor Energy by 5.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,134,149 shares of the oil and gas producer’s stock worth $956,850,000 after purchasing an additional 1,209,073 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Suncor Energy by 1.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 23,048,048 shares of the oil and gas producer’s stock valued at $878,131,000 after purchasing an additional 366,432 shares during the period. 1832 Asset Management L.P. boosted its holdings in Suncor Energy by 4.1% during the first quarter. 1832 Asset Management L.P. now owns 22,157,546 shares of the oil and gas producer’s stock worth $817,835,000 after buying an additional 868,475 shares in the last quarter. Toronto Dominion Bank grew its position in Suncor Energy by 1.8% during the third quarter. Toronto Dominion Bank now owns 18,546,207 shares of the oil and gas producer’s stock valued at $684,726,000 after buying an additional 333,440 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in Suncor Energy by 5.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 18,529,253 shares of the oil and gas producer’s stock valued at $683,916,000 after buying an additional 1,031,542 shares in the last quarter. 67.37% of the stock is currently 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.