Suncor Energy (NYSE:SU) Upgraded by StockNews.com to Buy Rating

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

A number of other equities research analysts have also recently commented on the company. Tudor, Pickering, Holt & Co. upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research report on Monday, February 10th. Royal Bank of Canada restated an “outperform” rating and set a $66.00 target price on shares of Suncor Energy in a research report on Tuesday, January 7th. Bank of America started coverage on Suncor Energy in a research report on Wednesday, February 26th. They set a “neutral” rating on the stock. Morgan Stanley cut Suncor Energy from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 16th. Finally, Tudor Pickering upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 10th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Suncor Energy has an average rating of “Moderate Buy” and an average price target of $58.00.

Suncor Energy Stock Performance

NYSE SU opened at $37.46 on Friday. The stock has a 50-day simple moving average of $38.22 and a two-hundred day simple moving average of $38.14. The firm has a market capitalization of $46.34 billion, a P/E ratio of 10.86, a PEG ratio of 2.94 and a beta of 1.11. Suncor Energy has a fifty-two week low of $33.81 and a fifty-two week high of $41.95. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.33.

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 for the quarter, beating analysts’ consensus estimates of $0.82 by $0.07. Suncor Energy had a return on equity of 15.37% and a net margin of 11.80%. On average, equities analysts forecast that Suncor Energy will post 3.42 earnings per share for the current year.

Suncor Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 4th will be issued a dividend of $0.399 per share. This represents a $1.60 annualized dividend and a dividend yield of 4.26%. The ex-dividend date of this dividend is Tuesday, March 4th. Suncor Energy’s dividend payout ratio is currently 45.51%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SU. Assenagon Asset Management S.A. boosted its holdings in shares of Suncor Energy by 1,324.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 3,469,008 shares of the oil and gas producer’s stock worth $123,774,000 after purchasing 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 worth $346,298,000 after purchasing an additional 2,767,043 shares during the last quarter. Jupiter Asset Management Ltd. boosted its holdings in shares of Suncor Energy by 2,061.8% during the 4th quarter. Jupiter Asset Management Ltd. now owns 2,438,291 shares of the oil and gas producer’s stock worth $86,990,000 after purchasing an additional 2,325,503 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Suncor Energy by 500.4% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,453,314 shares of the oil and gas producer’s stock worth $87,459,000 after purchasing an additional 2,044,680 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in shares of Suncor Energy by 97.4% during the 4th 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 institutional investors and hedge funds.

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.