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

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

A number of other analysts have also weighed in on the stock. The Goldman Sachs Group raised their price target on shares of Suncor Energy from $38.00 to $45.00 and gave the company a buy rating in a report on Thursday, May 23rd. Morgan Stanley lifted their target price on shares of Suncor Energy from $50.00 to $52.00 and gave the stock an overweight rating in a report on Thursday, March 28th. TD Securities boosted their price target on shares of Suncor Energy from $52.00 to $57.00 and gave the company a hold rating in a report on Wednesday, May 22nd. Finally, Raymond James raised shares of Suncor Energy to a hold rating in a research report on Tuesday, May 28th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Suncor Energy currently has an average rating of Moderate Buy and a consensus target price of $51.67.

Suncor Energy Stock Performance

Shares of NYSE SU opened at $37.90 on Monday. The business has a fifty day simple moving average of $38.78 and a 200 day simple moving average of $35.57. The firm has a market capitalization of $48.57 billion, a price-to-earnings ratio of 8.44, a PEG ratio of 3.52 and a beta of 1.11. Suncor Energy has a one year low of $28.26 and a one year high of $41.50. The company has a current ratio of 1.51, a quick ratio of 0.97 and a debt-to-equity ratio of 0.25.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings data on Tuesday, May 7th. The oil and gas producer reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.15. Suncor Energy had a return on equity of 15.69% and a net margin of 15.38%. The firm had revenue of $9.29 billion during the quarter, compared to analyst estimates of $8.64 billion. Sell-side analysts expect that Suncor Energy will post 3.52 EPS for the current year.

Suncor Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Tuesday, June 4th will be issued a dividend of $0.395 per share. This represents a $1.58 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date of this dividend is Tuesday, June 4th. Suncor Energy’s dividend payout ratio is currently 35.19%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in SU. Johnson Financial Group Inc. bought a new position in Suncor Energy in the fourth quarter valued at approximately $25,000. Richardson Financial Services Inc. bought a new stake in Suncor Energy during the 4th quarter worth $25,000. Benjamin F. Edwards & Company Inc. raised its holdings in Suncor Energy by 43.2% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,038 shares of the oil and gas producer’s stock valued at $33,000 after buying an additional 313 shares during the last quarter. Adirondack Trust Co. raised its position in Suncor Energy by 45.6% during the 4th quarter. Adirondack Trust Co. now owns 1,000 shares of the oil and gas producer’s stock worth $34,000 after purchasing an additional 313 shares during the last quarter. Finally, V Square Quantitative Management LLC bought a new position in Suncor Energy during the 4th quarter worth approximately $38,000. Institutional investors and hedge funds own 67.37% of the company’s stock.

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.