Suncor Energy (NYSE:SU) Cut to Hold at StockNews.com

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

Several other analysts have also recently commented on the stock. Desjardins upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Morgan Stanley downgraded shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a research report on Monday. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $56.40.

Suncor Energy Price Performance

Shares of NYSE SU opened at $34.85 on Monday. The stock has a fifty day moving average price of $38.91 and a 200 day moving average price of $38.63. Suncor Energy has a 1-year low of $31.03 and a 1-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 has a market cap of $43.85 billion, a PE ratio of 7.59, a P/E/G ratio of 2.43 and a beta of 1.11.

Suncor Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd will be issued a $0.4089 dividend. The ex-dividend date is Tuesday, December 3rd. This is a boost from Suncor Energy’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a yield of 4.69%. Suncor Energy’s dividend payout ratio (DPR) is 36.60%.

Hedge Funds Weigh In On Suncor Energy

Hedge funds and other institutional investors have recently bought and sold shares of the company. Cullen Investment Group LTD. increased its position in shares of Suncor Energy by 0.8% in 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 in the last quarter. First Horizon Advisors Inc. increased its holdings in Suncor Energy by 6.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 4,879 shares of the oil and gas producer’s stock valued at $186,000 after acquiring an additional 281 shares in the last quarter. Blue Trust Inc. increased its position in Suncor Energy by 11.0% during the second quarter. Blue Trust Inc. now owns 3,278 shares of the oil and gas producer’s stock worth $121,000 after buying an additional 325 shares in the last quarter. Richardson Financial Services Inc. raised its position in shares of Suncor Energy by 82.8% in the second quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer’s stock valued at $28,000 after buying an additional 328 shares during the last quarter. Finally, Coldstream Capital Management Inc. lifted its stake in shares of 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 buying an additional 354 shares during the period. 67.37% of the stock is owned by institutional investors and hedge funds.

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.