StockNews.com Downgrades Suncor Energy (NYSE:SU) to Hold

StockNews.com downgraded shares of Suncor Energy (NYSE:SU) (TSE:SU) from a buy rating to a hold rating in a report published on Friday morning.

Other equities research analysts have also recently issued research reports about the company. Bank of America initiated coverage on Suncor Energy in a report on Wednesday, February 26th. They set a “neutral” rating on the stock. Desjardins raised Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Royal Bank of Canada reissued an “outperform” rating and set a $66.00 price target on shares of Suncor Energy in a research note on Tuesday, January 7th. Tudor, Pickering, Holt & Co. raised Suncor Energy from a “hold” rating to a “buy” rating in a research note on Monday, February 10th. Finally, Cibc World Mkts raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 11th. Five analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $58.00.

Suncor Energy Price Performance

Shares of NYSE:SU opened at $36.63 on Friday. The business’s fifty day moving average price is $38.29 and its two-hundred day moving average price is $38.26. The stock has a market cap of $45.32 billion, a PE ratio of 10.62, a price-to-earnings-growth ratio of 2.94 and a beta of 1.11. 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 has a one year low of $33.81 and a one year high of $41.95.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 EPS 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, analysts forecast that Suncor Energy will post 3.42 EPS for the current fiscal year.

Suncor Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 4th will be given a $0.399 dividend. This represents a $1.60 annualized dividend and a dividend yield of 4.36%. The ex-dividend date of this dividend is Tuesday, March 4th. Suncor Energy’s dividend payout ratio (DPR) is currently 45.51%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. HHM Wealth Advisors LLC raised its position in shares of Suncor Energy by 62.1% in the 4th quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer’s stock worth $30,000 after buying an additional 325 shares during the period. Crowley Wealth Management Inc. purchased a new position in Suncor Energy in the fourth quarter valued at about $35,000. Lee Danner & Bass Inc. purchased a new position in Suncor Energy in the fourth quarter valued at about $36,000. Golden State Wealth Management LLC purchased a new position in Suncor Energy in the fourth quarter valued at about $39,000. Finally, Covestor Ltd raised its position in Suncor Energy by 30.5% in the fourth quarter. Covestor Ltd now owns 1,095 shares of the oil and gas producer’s stock valued at $39,000 after purchasing an additional 256 shares during the period. 67.37% of the stock is owned by hedge funds and other institutional investors.

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.