Suncor Energy (NYSE:SU) Raised to “Hold” at Scotiabank

Scotiabank upgraded shares of Suncor Energy (NYSE:SU) (TSE:SU) to a hold rating in a research note issued to investors on Wednesday morning,Zacks.com reports.

A number of other brokerages also recently issued reports on SU. Cibc World Mkts upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 11th. Bank of America assumed coverage on Suncor Energy in a research report on Wednesday, February 26th. They issued a “neutral” rating for the company. Tudor, Pickering, Holt & Co. upgraded Suncor Energy from a “hold” rating to a “buy” rating in a report on Monday, February 10th. Royal Bank of Canada restated an “outperform” rating and set a $66.00 target price on shares of Suncor Energy in a research note on Tuesday, January 7th. Finally, StockNews.com upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research report on Saturday. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $58.00.

Suncor Energy Stock Down 0.7 %

SU stock opened at $37.46 on Wednesday. The stock has a market capitalization of $46.34 billion, a P/E ratio of 10.86, a price-to-earnings-growth ratio of 2.94 and a beta of 1.11. Suncor Energy has a 12 month low of $33.81 and a 12 month high of $41.95. The company has a current ratio of 1.33, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21. The firm has a 50-day moving average price of $38.22 and a 200-day moving average price of $38.15.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Wednesday, February 5th. The oil and gas producer reported $0.89 EPS for the quarter, topping the consensus estimate of $0.82 by $0.07. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. As a group, equities research analysts anticipate that Suncor Energy will post 3.42 EPS for the current fiscal year.

Suncor Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 4th will be given a dividend of $0.399 per share. The ex-dividend date is Tuesday, March 4th. This represents a $1.60 annualized dividend and a dividend yield of 4.26%. Suncor Energy’s dividend payout ratio is presently 45.51%.

Institutional Trading of Suncor Energy

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Suncor Energy by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 53,019,357 shares of the oil and gas producer’s stock valued at $1,892,526,000 after purchasing an additional 323,714 shares during the period. Artisan Partners Limited Partnership lifted its position in shares of Suncor Energy by 0.7% in the fourth quarter. Artisan Partners Limited Partnership now owns 24,289,019 shares of the oil and gas producer’s stock worth $865,885,000 after purchasing an additional 169,700 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Suncor Energy by 0.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 23,308,055 shares of the oil and gas producer’s stock valued at $831,631,000 after acquiring an additional 209,447 shares during the period. Toronto Dominion Bank lifted its stake in shares of Suncor Energy by 3.0% during the 4th quarter. Toronto Dominion Bank now owns 19,098,225 shares of the oil and gas producer’s stock worth $680,847,000 after buying an additional 552,018 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Suncor Energy by 4.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 10,981,927 shares of the oil and gas producer’s stock valued at $391,809,000 after purchasing an additional 445,613 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.