Suncor Energy (NYSE:SU) Lifted 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 published on Saturday morning.

Several other research analysts have also issued reports on the stock. Scotiabank lowered their price target on shares of Suncor Energy from $61.00 to $60.00 and set a sector perform rating for the company in a report on Friday, July 12th. Wolfe Research started coverage on shares of Suncor Energy in a report on Thursday, July 18th. They set an outperform rating and a $68.00 price target for the company. TD Securities upgraded shares of Suncor Energy from a hold rating to a buy rating in a report on Wednesday, August 7th. Finally, BMO Capital Markets upgraded shares of Suncor Energy from a market perform rating to an outperform rating in a report on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Suncor Energy has an average rating of Moderate Buy and an average price target of $55.83.

Suncor Energy Stock Up 0.3 %

NYSE:SU opened at $36.90 on Friday. The firm’s 50 day simple moving average is $38.72 and its 200 day simple moving average is $38.47. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.46 and a quick ratio of 0.93. Suncor Energy has a one year low of $29.45 and a one year high of $41.94. The company has a market cap of $47.29 billion, a PE ratio of 8.22, a P/E/G ratio of 2.57 and a beta of 1.13.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its earnings results on Tuesday, August 6th. The oil and gas producer reported $1.27 EPS for the quarter, topping the consensus estimate of $0.76 by $0.51. Suncor Energy had a net margin of 14.40% and a return on equity of 16.22%. The business had revenue of $12.90 billion for the quarter, compared to the consensus estimate of $9.30 billion. During the same period last year, the company earned $0.71 EPS. The firm’s revenue was up 10.1% compared to the same quarter last year. On average, research analysts anticipate that Suncor Energy will post 3.71 earnings per share for the current year.

Suncor Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th were paid a $0.395 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $1.58 annualized dividend and a dividend yield of 4.28%. Suncor Energy’s dividend payout ratio is currently 35.86%.

Institutional Trading of Suncor Energy

Hedge funds have recently modified their holdings of the stock. Richardson Financial Services Inc. acquired a new stake in Suncor Energy in the 4th quarter valued at $25,000. Trust Co. of Vermont acquired a new stake in Suncor Energy in the 2nd quarter valued at $26,000. Summit Securities Group LLC acquired a new stake in Suncor Energy in the 2nd quarter valued at $27,000. Ridgewood Investments LLC acquired a new stake in Suncor Energy in the 2nd quarter valued at $29,000. Finally, Adirondack Trust Co. grew its position in Suncor Energy by 45.6% in the 4th quarter. Adirondack Trust Co. now owns 1,000 shares of the oil and gas producer’s stock valued at $34,000 after purchasing an additional 313 shares during the period. 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.