Suncor Energy (NYSE:SU) Rating Increased to Buy 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.

A number of other research firms have also recently commented on SU. Desjardins upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a 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 upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $56.40.

Suncor Energy Stock Performance

Shares of Suncor Energy stock opened at $41.53 on Tuesday. Suncor Energy has a 1 year low of $29.45 and a 1 year high of $41.94. The firm’s 50-day moving average is $38.86 and its 200 day moving average is $38.86. The stock has a market cap of $52.25 billion, a price-to-earnings ratio of 9.05, a PEG ratio of 2.83 and a beta of 1.12. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 1.04.

Suncor Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd will be given a $0.4089 dividend. This represents a $1.64 annualized dividend and a yield of 3.94%. This is a boost from Suncor Energy’s previous quarterly dividend of $0.40. The ex-dividend date is Tuesday, December 3rd. Suncor Energy’s dividend payout ratio (DPR) is presently 36.60%.

Institutional Investors Weigh In On Suncor Energy

Hedge funds and other institutional investors have recently made changes to their positions in the business. Cullen Investment Group LTD. increased its holdings in Suncor Energy by 0.8% during the third quarter. Cullen Investment Group LTD. now owns 33,106 shares of the oil and gas producer’s stock valued at $1,222,000 after buying an additional 262 shares during the last quarter. First Horizon Advisors Inc. increased its stake in shares of Suncor Energy by 6.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 4,879 shares of the oil and gas producer’s stock worth $186,000 after purchasing an additional 281 shares in the last quarter. Blue Trust Inc. raised its holdings in Suncor Energy by 11.0% in the 2nd quarter. Blue Trust Inc. now owns 3,278 shares of the oil and gas producer’s stock worth $121,000 after purchasing an additional 325 shares during the period. Richardson Financial Services Inc. lifted its position 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 valued at $28,000 after purchasing an additional 328 shares in the last quarter. Finally, Coldstream Capital Management Inc. grew its holdings in Suncor Energy by 5.0% during the third quarter. Coldstream Capital Management Inc. now owns 7,486 shares of the oil and gas producer’s stock valued at $276,000 after purchasing an additional 354 shares during the period. Hedge funds and other 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.