Suncor Energy (NYSE:SU) Downgraded to “Hold” at StockNews.com

StockNews.com cut shares of Suncor Energy (NYSE:SU) (TSE:SU) from a buy rating to a hold rating in a report released on Thursday morning.

SU has been the topic of several other reports. Scotiabank dropped their target price on Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. Wolfe Research began coverage on shares of Suncor Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $68.00 price objective on the stock. TD Securities raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. Finally, BMO Capital Markets upgraded shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Suncor Energy presently has an average rating of “Moderate Buy” and a consensus target price of $55.83.

Suncor Energy Stock Performance

Shares of NYSE:SU opened at $38.98 on Thursday. The company has a market cap of $49.18 billion, a P/E ratio of 9.04, a PEG ratio of 2.69 and a beta of 1.12. The business’s 50-day simple moving average is $39.04 and its 200 day simple moving average is $38.72. 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 has a one year low of $29.45 and a one year high of $41.94.

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

Suncor Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th were paid 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 yield of 4.05%. Suncor Energy’s dividend payout ratio is currently 37.59%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Trust Co. of Vermont purchased a new position in Suncor Energy during the 2nd quarter worth approximately $26,000. Summit Securities Group LLC acquired a new stake in Suncor Energy during the 2nd quarter worth about $27,000. Richardson Financial Services Inc. grew its stake in Suncor Energy by 82.8% during the 2nd quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer’s stock valued at $28,000 after acquiring an additional 328 shares in the last quarter. Ridgewood Investments LLC acquired a new position in shares of Suncor Energy in the 2nd quarter valued at about $29,000. Finally, ORG Partners LLC purchased a new stake in shares of Suncor Energy in the second quarter worth approximately $43,000. 67.37% of the stock is currently owned by institutional investors and hedge funds.

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.