Suncor Energy (NYSE:SU) Downgraded by Morgan Stanley to Equal Weight

Morgan Stanley downgraded shares of Suncor Energy (NYSE:SU) (TSE:SU) from an overweight rating to an equal weight rating in a research report released on Monday morning, Marketbeat reports.

Other research analysts have also recently issued research reports about the company. Desjardins upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Suncor Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.40.

Suncor Energy Price Performance

SU stock opened at $34.85 on Monday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.04 and a current ratio of 1.59. The firm has a 50 day moving average price of $38.91 and a 200-day moving average price of $38.63. Suncor Energy has a 52-week low of $31.03 and a 52-week high of $41.94. The firm has a market capitalization of $43.85 billion, a price-to-earnings ratio of 7.59, a PEG ratio of 2.43 and a beta of 1.11.

Suncor Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd will be issued a $0.4089 dividend. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.69%. Suncor Energy’s dividend payout ratio (DPR) is presently 36.60%.

Institutional Investors Weigh In On Suncor Energy

Several large investors have recently bought and sold shares of SU. Eastern Bank bought a new stake in Suncor Energy in the 3rd quarter worth approximately $25,000. Summit Securities Group LLC bought a new stake in shares of Suncor Energy in the second quarter worth $27,000. Richardson Financial Services Inc. grew its holdings in shares of Suncor Energy by 82.8% in the second quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer’s stock worth $28,000 after acquiring an additional 328 shares during the period. Ridgewood Investments LLC purchased a new stake in Suncor Energy during the second quarter valued at $29,000. Finally, Waldron Private Wealth LLC bought a new position in Suncor Energy in the third quarter valued at about $49,000. 67.37% of the stock is currently owned by 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.