Suncor Energy (NYSE:SU) Raised to Buy at Desjardins

Suncor Energy (NYSE:SU) (TSE:SU) was upgraded by Desjardins from a “hold” rating to a “buy” rating in a report issued on Thursday, Marketbeat Ratings reports.

Several other analysts have also recently issued reports on SU. StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, November 7th. TD Securities upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. Wolfe Research began coverage on Suncor Energy in a research note on Thursday, July 18th. They issued an “outperform” rating and a $68.00 price target for the company. 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 company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $56.40.

Suncor Energy Price Performance

SU stock opened at $40.47 on Thursday. The stock’s 50 day moving average is $38.34 and its two-hundred day moving average is $38.75. Suncor Energy has a 52-week low of $29.45 and a 52-week high of $41.94. The company has a market capitalization of $51.06 billion, a PE ratio of 8.82, a P/E/G ratio of 2.81 and a beta of 1.12. The company has a quick ratio of 0.93, a current ratio of 1.46 and a debt-to-equity ratio of 0.26.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Suncor Energy by 1.4% in the first quarter. Vanguard Group Inc. now owns 51,226,454 shares of the oil and gas producer’s stock worth $1,890,768,000 after purchasing an additional 691,497 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of 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 acquiring an additional 1,209,073 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Suncor Energy by 1.6% in the second 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 acquiring an additional 366,432 shares in the last quarter. 1832 Asset Management L.P. raised 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 purchasing an additional 868,475 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position 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 worth $683,916,000 after purchasing an additional 1,031,542 shares during the period. Institutional investors own 67.37% of the company’s stock.

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.