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

StockNews.com downgraded shares of Suncor Energy (NYSE:SU) (TSE:SU) from a buy rating to a hold rating in a research note published on Monday.

Several other research analysts have also recently issued reports on SU. Desjardins raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Morgan Stanley cut shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a report on Monday. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $56.40.

Suncor Energy Trading Down 1.4 %

NYSE:SU opened at $36.26 on Monday. Suncor Energy has a one year low of $31.03 and a one year high of $41.94. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 1.04. The company’s 50-day simple moving average is $39.07 and its 200 day simple moving average is $38.69. The firm has a market capitalization of $45.62 billion, a P/E ratio of 7.90, 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. Investors of record on Tuesday, December 3rd will be given a dividend of $0.4089 per share. This represents a $1.64 annualized dividend and a yield of 4.51%. 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. Suncor Energy’s payout ratio is 36.60%.

Hedge Funds Weigh In On Suncor Energy

A number of hedge funds have recently modified their holdings of SU. Eastern Bank purchased a new stake in Suncor Energy during the third quarter valued at approximately $25,000. Summit Securities Group LLC purchased a new stake in Suncor Energy during the second quarter worth $27,000. Richardson Financial Services Inc. lifted its holdings in Suncor Energy by 82.8% during the second 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 period. Ridgewood Investments LLC purchased a new stake in Suncor Energy during the second quarter worth $29,000. Finally, Waldron Private Wealth LLC purchased a new stake in shares of Suncor Energy during the 3rd quarter valued at $49,000. 67.37% of the stock is currently owned by 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.