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 issued to investors on Tuesday morning.

SU has been the subject of several other research reports. Desjardins upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. BMO Capital Markets raised Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Wednesday, August 7th. Finally, TD Securities raised Suncor Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. Two research 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 presently has an average rating of “Moderate Buy” and a consensus price target of $56.40.

Suncor Energy Price Performance

Shares of NYSE SU opened at $40.98 on Tuesday. 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 fifty day moving average of $38.56 and a 200 day moving average of $38.81. The firm has a market cap of $51.70 billion, a PE ratio of 8.93, a PEG ratio of 2.79 and a beta of 1.12. Suncor Energy has a one year low of $29.45 and a one year high of $41.94.

Suncor Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 24th. Investors of record on Tuesday, December 3rd will be given a dividend of $0.4089 per share. This is an increase 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 yield of 3.99%. Suncor Energy’s dividend payout ratio (DPR) is presently 35.29%.

Institutional Trading of Suncor Energy

Large investors have recently added to or reduced their stakes in the stock. Eastern Bank acquired a new position in shares of Suncor Energy during the 3rd quarter valued at about $25,000. Trust Co. of Vermont acquired a new position in Suncor Energy in the 2nd quarter valued at about $26,000. Summit Securities Group LLC purchased a new stake in shares of Suncor Energy in the 2nd quarter valued at approximately $27,000. Richardson Financial Services Inc. increased its holdings in shares of 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 worth $28,000 after buying an additional 328 shares during the last quarter. Finally, Ridgewood Investments LLC purchased a new stake in shares of Suncor Energy during the 2nd quarter valued at approximately $29,000. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Suncor Energy Company Profile

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.