Suncor Energy (NYSE:SU) Raised to “Hold” at Scotiabank

Suncor Energy (NYSE:SU) (TSE:SU) was upgraded by stock analysts at Scotiabank to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

SU has been the subject of a number of other research reports. Tudor, Pickering, Holt & Co. raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Monday, February 10th. StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Saturday. Tudor Pickering raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 10th. Cibc World Mkts upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 11th. Finally, Morgan Stanley downgraded Suncor Energy from an “overweight” rating to an “equal weight” rating in a report on Monday, December 16th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Suncor Energy currently has an average rating of “Moderate Buy” and an average price target of $58.00.

Suncor Energy Price Performance

Shares of NYSE SU opened at $37.46 on Wednesday. The business has a fifty day moving average price of $38.22 and a two-hundred day moving average price of $38.15. The stock has a market capitalization of $46.34 billion, a PE ratio of 10.86, a P/E/G ratio of 2.94 and a beta of 1.11. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.33 and a quick ratio of 0.86. Suncor Energy has a fifty-two week low of $33.81 and a fifty-two week high of $41.95.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its earnings results 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%. As a group, equities analysts predict that Suncor Energy will post 3.42 earnings per share for the current fiscal year.

Institutional Trading of Suncor Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. HHM Wealth Advisors LLC increased its position in shares of Suncor Energy by 62.1% during the fourth 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. bought a new stake in Suncor Energy during the fourth quarter valued at $35,000. Lee Danner & Bass Inc. acquired a new stake in Suncor Energy during the 4th quarter worth about $36,000. Golden State Wealth Management LLC bought a new position in shares of Suncor Energy in the 4th quarter worth about $39,000. Finally, Covestor Ltd lifted its stake in shares of Suncor Energy by 30.5% in the 4th 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. Institutional investors and hedge funds 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.