Suncor Energy (NYSE:SU) Upgraded 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 Thursday.

Several other equities research analysts have also recently weighed in on SU. Tudor Pickering raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 10th. Tudor, Pickering, Holt & Co. raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Monday, February 10th. Royal Bank of Canada reissued an “outperform” rating and set a $66.00 price target on shares of Suncor Energy in a research 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, Morgan Stanley lowered shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a report on Monday, December 16th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $58.00.

Suncor Energy Price Performance

SU opened at $35.81 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.33. The stock has a market capitalization of $44.30 billion, a PE ratio of 10.38, a price-to-earnings-growth ratio of 2.94 and a beta of 1.11. The stock’s 50 day moving average price is $38.29 and its 200-day moving average price is $38.41. Suncor Energy has a 52-week low of $33.81 and a 52-week high of $41.94.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings data on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share (EPS) 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, equities research analysts predict that Suncor Energy will post 3.42 EPS for the current year.

Suncor Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 4th will be given a $0.399 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $1.60 annualized dividend and a yield of 4.46%. Suncor Energy’s dividend payout ratio (DPR) is presently 45.51%.

Institutional Trading of Suncor Energy

Several institutional investors have recently added to or reduced their stakes in SU. Assenagon Asset Management S.A. boosted its position in shares of Suncor Energy by 1,324.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,469,008 shares of the oil and gas producer’s stock valued at $123,774,000 after buying an additional 3,225,543 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Suncor Energy by 39.9% during the 4th quarter. Principal Financial Group Inc. now owns 9,706,616 shares of the oil and gas producer’s stock valued at $346,298,000 after acquiring an additional 2,767,043 shares during the last quarter. Jupiter Asset Management Ltd. raised its holdings in shares of Suncor Energy by 2,061.8% during the fourth quarter. Jupiter Asset Management Ltd. now owns 2,438,291 shares of the oil and gas producer’s stock valued at $86,990,000 after purchasing an additional 2,325,503 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Suncor Energy by 500.4% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,453,314 shares of the oil and gas producer’s stock valued at $87,459,000 after purchasing an additional 2,044,680 shares during the period. Finally, Fisher Asset Management LLC boosted its holdings in Suncor Energy by 97.4% in the fourth quarter. Fisher Asset Management LLC now owns 3,734,572 shares of the oil and gas producer’s stock worth $133,250,000 after purchasing an additional 1,842,791 shares during 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.