Suncor Energy (NYSE:SU) Upgraded to “Buy” at Desjardins

Desjardins upgraded shares of Suncor Energy (NYSE:SU) (TSE:SU) from a hold rating to a buy rating in a research note released on Thursday, Marketbeat reports.

SU has been the topic of a number of other reports. Wolfe Research started coverage on shares of Suncor Energy in a research note on Thursday, July 18th. They set an “outperform” rating and a $68.00 price objective on the stock. StockNews.com upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. BMO Capital Markets upgraded Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 7th. Finally, TD Securities raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Suncor Energy presently has an average rating of “Moderate Buy” and an average price target of $56.40.

Suncor Energy Stock Down 0.4 %

NYSE SU traded down $0.17 on Thursday, reaching $40.27. 2,523,836 shares of the stock traded hands, compared to its average volume of 4,262,731. Suncor Energy has a 12 month low of $29.45 and a 12 month high of $41.94. The company has a market cap of $50.81 billion, a price-to-earnings ratio of 8.85, a PEG ratio of 2.81 and a beta of 1.12. The company has a fifty day moving average price of $38.34 and a 200-day moving average price of $38.75. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.93 and a current ratio of 1.46.

Suncor Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 3rd will be issued a dividend of $0.4089 per share. This represents a $1.64 annualized dividend and a dividend yield of 4.06%. The ex-dividend date of this dividend is Tuesday, December 3rd. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.40. Suncor Energy’s dividend payout ratio is currently 35.29%.

Institutional Trading of Suncor Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Stifel Financial Corp lifted its holdings in shares of Suncor Energy by 0.9% during the 3rd quarter. Stifel Financial Corp now owns 95,243 shares of the oil and gas producer’s stock valued at $3,516,000 after purchasing an additional 894 shares during the last quarter. Quantinno Capital Management LP lifted its holdings in shares of Suncor Energy by 47.0% during the 3rd quarter. Quantinno Capital Management LP now owns 37,193 shares of the oil and gas producer’s stock valued at $1,373,000 after purchasing an additional 11,887 shares during the last quarter. Recurrent Investment Advisors LLC raised its stake in Suncor Energy by 13.2% in the 3rd quarter. Recurrent Investment Advisors LLC now owns 1,655,402 shares of the oil and gas producer’s stock worth $61,979,000 after acquiring an additional 192,488 shares during the last quarter. Janus Henderson Group PLC raised its stake in Suncor Energy by 11.3% in the 3rd quarter. Janus Henderson Group PLC now owns 1,022,237 shares of the oil and gas producer’s stock worth $37,771,000 after acquiring an additional 103,453 shares during the last quarter. Finally, Concentric Capital Strategies LP purchased a new position in Suncor Energy in the 3rd quarter worth $5,590,000. 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.