Suncor Energy (NYSE:SU) Upgraded by StockNews.com to Buy

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

A number of other analysts have also recently commented on the company. TD Securities raised Suncor Energy from a hold rating to a buy rating in a research report on Wednesday, August 7th. Scotiabank lowered their price objective on Suncor Energy from $61.00 to $60.00 and set a sector perform rating for the company in a research note on Friday, July 12th. BMO Capital Markets raised Suncor Energy from a market perform rating to an outperform rating in a research note on Wednesday, August 7th. Finally, Wolfe Research assumed coverage on Suncor Energy in a research report on Thursday, July 18th. They issued an outperform rating and a $68.00 price target for the company. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $55.83.

Suncor Energy Stock Performance

Suncor Energy stock opened at $38.49 on Friday. The firm has a fifty day simple moving average of $38.73 and a two-hundred day simple moving average of $38.49. The company has a quick ratio of 0.93, a current ratio of 1.46 and a debt-to-equity ratio of 0.26. Suncor Energy has a twelve month low of $29.45 and a twelve month high of $41.94. The company has a market capitalization of $48.90 billion, a PE ratio of 8.57, a P/E/G ratio of 2.48 and a beta of 1.13.

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

Suncor Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th were paid a $0.395 dividend. This represents a $1.58 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date of this dividend was Wednesday, September 4th. Suncor Energy’s dividend payout ratio (DPR) is 36.08%.

Institutional Investors Weigh In On Suncor Energy

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Suncor Energy by 1.4% in the first quarter. Vanguard Group Inc. now owns 51,226,454 shares of the oil and gas producer’s stock worth $1,890,768,000 after buying an additional 691,497 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Suncor Energy by 5.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,134,149 shares of the oil and gas producer’s stock valued at $956,850,000 after acquiring an additional 1,209,073 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Suncor Energy by 1.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 23,048,048 shares of the oil and gas producer’s stock valued at $878,131,000 after purchasing an additional 366,432 shares in the last quarter. 1832 Asset Management L.P. raised its stake in Suncor Energy by 4.1% during the first quarter. 1832 Asset Management L.P. now owns 22,157,546 shares of the oil and gas producer’s stock valued at $817,835,000 after purchasing an additional 868,475 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Suncor Energy by 5.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,529,253 shares of the oil and gas producer’s stock worth $683,916,000 after buying an additional 1,031,542 shares in the last quarter. Institutional investors 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.