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

StockNews.com cut shares of Suncor Energy (NYSE:SU) (TSE:SU) from a buy rating to a hold rating in a research note released on Thursday.

Several other brokerages have also issued reports on SU. Morgan Stanley lowered shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a report on Monday, December 16th. Royal Bank of Canada reissued an “outperform” rating and issued a $66.00 target price on shares of Suncor Energy in a research note on Friday, December 20th. Finally, Desjardins raised Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Suncor Energy presently has an average rating of “Moderate Buy” and an average price target of $58.00.

Suncor Energy Stock Down 0.1 %

Shares of NYSE:SU opened at $35.16 on Thursday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 1.04. The stock has a market cap of $44.24 billion, a price-to-earnings ratio of 7.66, a P/E/G ratio of 2.43 and a beta of 1.11. The company has a 50 day moving average of $38.37 and a 200-day moving average of $38.49. Suncor Energy has a one year low of $31.03 and a one year high of $41.94.

Suncor Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd were given a dividend of $0.4089 per share. This represents a $1.64 dividend on an annualized basis and a yield of 4.65%. This is a boost from Suncor Energy’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Tuesday, December 3rd. Suncor Energy’s payout ratio is 36.60%.

Institutional Investors Weigh In On Suncor Energy

Hedge funds have recently bought and sold shares of the stock. Eastern Bank acquired a new stake in shares of Suncor Energy during the third quarter worth $25,000. Richardson Financial Services Inc. boosted its holdings in Suncor Energy by 82.8% in the 2nd quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer’s stock valued at $28,000 after purchasing an additional 328 shares during the period. Waldron Private Wealth LLC acquired a new position in shares of Suncor Energy during the 3rd quarter worth approximately $49,000. Transamerica Financial Advisors Inc. increased its holdings in shares of Suncor Energy by 2,311.0% during the third quarter. Transamerica Financial Advisors Inc. now owns 1,977 shares of the oil and gas producer’s stock worth $73,000 after purchasing an additional 1,895 shares during the period. Finally, Mattson Financial Services LLC acquired a new stake in shares of Suncor Energy in the second quarter valued at approximately $82,000. 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.