Suncor Energy (NYSE:SU) Raised 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 report published on Monday.

Other equities analysts have also recently issued reports about the company. Morgan Stanley increased their price target on Suncor Energy from $50.00 to $52.00 and gave the company an overweight rating in a report on Thursday, March 28th. The Goldman Sachs Group raised their target price on Suncor Energy from $38.00 to $45.00 and gave the stock a buy rating in a report on Thursday, May 23rd. TD Securities raised their target price on Suncor Energy from $52.00 to $57.00 and gave the stock a hold rating in a report on Wednesday, May 22nd. Finally, Raymond James raised Suncor Energy to a hold rating in a report on Tuesday, May 28th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Suncor Energy presently has a consensus rating of Moderate Buy and an average price target of $51.67.

Suncor Energy Stock Down 1.1 %

SU stock opened at $37.31 on Monday. Suncor Energy has a fifty-two week low of $28.26 and a fifty-two week high of $41.50. The business’s 50 day moving average price is $38.79 and its two-hundred day moving average price is $35.62. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.97 and a current ratio of 1.51. The company has a market capitalization of $47.81 billion, a price-to-earnings ratio of 8.31, a price-to-earnings-growth ratio of 3.58 and a beta of 1.11.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings results on Tuesday, May 7th. The oil and gas producer reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.15. The company had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $8.64 billion. Suncor Energy had a return on equity of 15.69% and a net margin of 15.38%. As a group, analysts forecast that Suncor Energy will post 3.52 earnings per share for the current fiscal year.

Suncor Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 25th. Investors of record on Tuesday, June 4th were issued a dividend of $0.395 per share. This represents a $1.58 annualized dividend and a yield of 4.24%. The ex-dividend date of this dividend was Tuesday, June 4th. Suncor Energy’s payout ratio is 35.19%.

Hedge Funds Weigh In On Suncor Energy

Several institutional investors have recently bought and sold shares of SU. Vanguard Personalized Indexing Management LLC lifted its position in Suncor Energy by 10.7% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 29,873 shares of the oil and gas producer’s stock valued at $957,000 after purchasing an additional 2,895 shares during the period. Vanguard Group Inc. grew its stake in shares of Suncor Energy by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 50,379,614 shares of the oil and gas producer’s stock valued at $1,732,051,000 after buying an additional 731,163 shares during the period. Sanders Capital LLC grew its stake in shares of Suncor Energy by 2.8% in the 4th quarter. Sanders Capital LLC now owns 57,318,037 shares of the oil and gas producer’s stock valued at $1,836,470,000 after buying an additional 1,568,629 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Suncor Energy by 13.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,348,348 shares of the oil and gas producer’s stock worth $183,876,000 after purchasing an additional 628,262 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in Suncor Energy by 1,689.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 565,339 shares of the oil and gas producer’s stock worth $18,118,000 after buying an additional 533,754 shares in the last quarter. 67.37% of the stock is owned by hedge funds and other institutional investors.

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.