Suncor Energy (NYSE:SU) Raised to “Buy” at 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 morning.

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

Suncor Energy Stock Performance

Shares of SU opened at $38.41 on Friday. The company has a 50-day moving average of $38.20 and a two-hundred day moving average of $38.14. The stock has a market cap of $47.52 billion, a price-to-earnings ratio of 11.13, a PEG 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 one year low of $33.81 and a one year high of $41.95.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings data on Wednesday, February 5th. The oil and gas producer reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.07. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. On average, equities research analysts expect that Suncor Energy will post 3.42 earnings per share for the current 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 dividend of $0.399 per share. This represents a $1.60 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date is Tuesday, March 4th. Suncor Energy’s dividend payout ratio (DPR) is presently 45.51%.

Institutional Investors Weigh In On Suncor Energy

A number of institutional investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Suncor Energy by 121.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 249,870 shares of the oil and gas producer’s stock worth $8,915,000 after acquiring an additional 137,266 shares during the period. PKO Investment Management Joint Stock Co acquired a new stake in Suncor Energy in the 4th quarter valued at $1,500,000. Leigh Baldwin & CO. LLC bought a new stake in Suncor Energy in the fourth quarter valued at $316,000. Polar Asset Management Partners Inc. acquired a new position in Suncor Energy during the fourth quarter worth $1,962,000. Finally, Forum Financial Management LP lifted its holdings in shares of Suncor Energy by 72.0% during the fourth quarter. Forum Financial Management LP now owns 9,618 shares of the oil and gas producer’s stock valued at $343,000 after acquiring an additional 4,026 shares during the period. Institutional investors and hedge funds own 67.37% of the company’s stock.

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.