Suncor Energy (NYSE:SU) Downgraded by 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 released on Wednesday.

Several other equities analysts have also issued reports on SU. Morgan Stanley boosted their price target on shares of Suncor Energy from $50.00 to $52.00 and gave the company an overweight rating in a report on Thursday, March 28th. Raymond James raised shares of Suncor Energy to a hold rating in a report on Tuesday, May 28th. The Goldman Sachs Group upped their target price on shares of Suncor Energy from $38.00 to $45.00 and gave the stock a buy rating in a research note on Thursday, May 23rd. Finally, TD Securities upped their target price on shares of Suncor Energy from $52.00 to $57.00 and gave the stock a hold rating in a research note on Wednesday, May 22nd. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Hold and an average target price of $52.86.

Suncor Energy Stock Performance

SU stock opened at $38.27 on Wednesday. The company has a 50 day moving average price of $38.65 and a 200 day moving average price of $36.18. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.51 and a quick ratio of 0.97. Suncor Energy has a fifty-two week low of $28.65 and a fifty-two week high of $41.50. The stock has a market capitalization of $49.04 billion, a PE ratio of 8.52, a price-to-earnings-growth ratio of 3.63 and a beta of 1.12.

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

Suncor Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 25th. Shareholders of record on Tuesday, June 4th were given a dividend of $0.395 per share. The ex-dividend date was Tuesday, June 4th. This represents a $1.58 annualized dividend and a yield of 4.13%. Suncor Energy’s dividend payout ratio (DPR) is presently 35.63%.

Institutional Investors Weigh In On Suncor Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Personalized Indexing Management LLC lifted its position in Suncor Energy by 10.7% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 29,873 shares of the oil and gas producer’s stock worth $957,000 after buying an additional 2,895 shares in the last quarter. Vanguard Group Inc. raised its holdings 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 purchasing an additional 731,163 shares during the period. Sanders Capital LLC raised its holdings 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 purchasing an additional 1,568,629 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Suncor Energy by 1,689.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 565,339 shares of the oil and gas producer’s stock valued at $18,118,000 after purchasing an additional 533,754 shares during the period. Finally, Sapient Capital LLC bought a new stake in shares of Suncor Energy in the 4th quarter valued at about $1,100,000. 67.37% of the stock is owned by 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.