Suncor Energy (NYSE:SU) Upgraded 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 note released on Saturday.

Other research analysts have also issued research reports about the company. Wolfe Research began coverage on Suncor Energy in a research note on Thursday, July 18th. They set an outperform rating and a $68.00 price target on the stock. BMO Capital Markets raised Suncor Energy from a market perform rating to an outperform rating in a research note on Wednesday, August 7th. TD Securities upgraded Suncor Energy from a hold rating to a buy rating in a report on Wednesday, August 7th. Finally, Scotiabank cut their price objective on shares of Suncor Energy from $61.00 to $60.00 and set a sector perform rating on the stock in a report on Friday, July 12th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $55.83.

Suncor Energy Stock Up 0.8 %

Shares of NYSE:SU opened at $36.80 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.46 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $46.75 billion, a P/E ratio of 8.20, a P/E/G ratio of 2.57 and a beta of 1.13. Suncor Energy has a 52-week low of $29.45 and a 52-week high of $41.94. The stock’s fifty day simple moving average is $38.76 and its 200-day simple moving average is $38.45.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings results on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.51. The company had revenue of $12.90 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 10.1% compared to the same quarter last year. During the same period last year, the company earned $0.71 EPS. As a group, equities research analysts forecast that Suncor Energy will post 3.71 earnings per share for the current fiscal year.

Suncor Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th were issued a $0.395 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $1.58 annualized dividend and a yield of 4.29%. Suncor Energy’s payout ratio is 36.08%.

Institutional Investors Weigh In On Suncor Energy

Institutional investors have recently bought and sold shares of the business. Toronto Dominion Bank boosted its position in shares of Suncor Energy by 59.7% in the first quarter. Toronto Dominion Bank now owns 17,606,934 shares of the oil and gas producer’s stock worth $649,872,000 after buying an additional 6,580,260 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Suncor Energy by 90.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 8,299,876 shares of the oil and gas producer’s stock worth $316,226,000 after acquiring an additional 3,951,287 shares during the period. National Bank of Canada FI grew its position in Suncor Energy by 60.7% in the second quarter. National Bank of Canada FI now owns 8,661,861 shares of the oil and gas producer’s stock valued at $328,876,000 after acquiring an additional 3,272,896 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Suncor Energy by 305.9% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,725,000 shares of the oil and gas producer’s stock valued at $63,687,000 after purchasing an additional 1,300,000 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Suncor Energy by 5.1% during the second quarter. The Manufacturers Life Insurance Company now owns 25,134,149 shares of the oil and gas producer’s stock worth $956,850,000 after purchasing an additional 1,209,073 shares in the last quarter. 67.37% of the stock is currently owned by hedge funds and other 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.