Suncor Energy (NYSE:SU) Rating Lowered to Equal Weight at Morgan Stanley

Suncor Energy (NYSE:SU) (TSE:SU) was downgraded by investment analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a report issued on Monday,Briefing.com Automated Import reports.

SU has been the topic of several other reports. Desjardins upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Suncor Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.40.

Suncor Energy Stock Down 1.1 %

Shares of SU opened at $36.78 on Monday. The stock has a fifty day simple moving average of $39.16 and a two-hundred day simple moving average of $38.72. The company has a quick ratio of 1.04, a current ratio of 1.59 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $46.28 billion, a PE ratio of 8.01, a price-to-earnings-growth ratio of 2.43 and a beta of 1.11. Suncor Energy has a 52-week low of $30.89 and a 52-week high of $41.94.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SU. Franklin Resources Inc. raised its holdings in shares of Suncor Energy by 0.8% in the 3rd quarter. Franklin Resources Inc. now owns 3,619,354 shares of the oil and gas producer’s stock valued at $146,948,000 after purchasing an additional 29,014 shares in the last quarter. Peapack Gladstone Financial Corp acquired a new position in shares of Suncor Energy during the 3rd quarter worth about $206,000. Synovus Financial Corp increased its holdings in shares of Suncor Energy by 11.7% in the 3rd quarter. Synovus Financial Corp now owns 81,371 shares of the oil and gas producer’s stock valued at $3,004,000 after acquiring an additional 8,519 shares during the last quarter. Tidal Investments LLC raised its position in shares of Suncor Energy by 59.6% during the 3rd quarter. Tidal Investments LLC now owns 21,971 shares of the oil and gas producer’s stock worth $811,000 after acquiring an additional 8,207 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in Suncor Energy in the third quarter valued at approximately $104,000. 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.