Suncor Energy (NYSE:SU) Upgraded to “Buy” by 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 released on Saturday.

A number of other equities analysts also recently issued reports on the stock. TD Securities upgraded shares of Suncor Energy from a hold rating to a buy rating in a research note on Wednesday, August 7th. BMO Capital Markets raised Suncor Energy from a market perform rating to an outperform rating in a research report on Wednesday, August 7th. Scotiabank cut their price target on Suncor Energy from $61.00 to $60.00 and set a sector perform rating on the stock in a report on Friday, July 12th. Finally, Wolfe Research initiated coverage on Suncor Energy in a research note on Thursday, July 18th. They set an outperform rating and a $68.00 price objective for the company. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $55.83.

Suncor Energy Price Performance

Shares of SU stock opened at $38.49 on Friday. Suncor Energy has a twelve month low of $29.45 and a twelve month high of $41.94. The company has a current ratio of 1.46, a quick ratio of 0.93 and a debt-to-equity ratio of 0.26. The stock has a fifty day simple moving average of $38.73 and a two-hundred day simple moving average of $38.49. The stock has a market capitalization of $48.90 billion, a price-to-earnings ratio of 8.57, a P/E/G ratio of 2.48 and a beta of 1.13.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings data on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.51. Suncor Energy had a net margin of 14.40% and a return on equity of 16.22%. The company had revenue of $12.90 billion during the quarter, compared to analyst estimates of $9.30 billion. During the same period in the prior year, the firm earned $0.71 earnings per share. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. On average, analysts predict that Suncor Energy will post 3.71 EPS for the current fiscal year.

Suncor Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th were given a $0.395 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $1.58 dividend on an annualized basis and a dividend yield of 4.10%. Suncor Energy’s payout ratio is 36.08%.

Institutional Investors Weigh In On Suncor Energy

Large investors have recently modified their holdings of the business. BNP Paribas Financial Markets increased its position in shares of Suncor Energy by 2,358.4% in the 1st quarter. BNP Paribas Financial Markets now owns 17,209 shares of the oil and gas producer’s stock valued at $635,000 after acquiring an additional 16,509 shares during the period. Empowered Funds LLC acquired a new position in shares of Suncor Energy in the first quarter valued at about $2,940,000. Assenagon Asset Management S.A. increased its holdings in shares of Suncor Energy by 90.9% in the second quarter. Assenagon Asset Management S.A. now owns 8,299,876 shares of the oil and gas producer’s stock valued at $316,226,000 after purchasing an additional 3,951,287 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Suncor Energy by 5.9% during 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. Finally, Envestnet Portfolio Solutions Inc. boosted its position in Suncor Energy by 56.6% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 55,636 shares of the oil and gas producer’s stock valued at $2,054,000 after buying an additional 20,101 shares during the last quarter. Hedge funds and other 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.