Suncor Energy (NYSE:SU) Rating Lowered to “Hold” at StockNews.com

StockNews.com cut shares of Suncor Energy (NYSE:SU) (TSE:SU) from a buy rating to a hold rating in a report published on Monday.

A number of other analysts have also recently weighed in on SU. Morgan Stanley cut shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a research report on Monday. Desjardins raised Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Suncor Energy currently has an average rating of “Moderate Buy” and an average target price of $56.40.

Suncor Energy Trading Down 2.8 %

NYSE SU opened at $34.85 on Monday. The company has a 50-day moving average of $38.91 and a 200-day moving average of $38.63. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 1.04. Suncor Energy has a 12 month low of $31.03 and a 12 month high of $41.94. The company has a market cap of $43.85 billion, a P/E ratio of 7.59, a P/E/G ratio of 2.43 and a beta of 1.11.

Suncor Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 3rd will be given a dividend of $0.4089 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.69%. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.40. The ex-dividend date is Tuesday, December 3rd. Suncor Energy’s payout ratio is presently 36.60%.

Hedge Funds Weigh In On Suncor Energy

Institutional investors and hedge funds have recently made changes to their positions in the business. Franklin Resources Inc. lifted its position in shares of Suncor Energy by 0.8% during the third quarter. Franklin Resources Inc. now owns 3,619,354 shares of the oil and gas producer’s stock worth $146,948,000 after purchasing an additional 29,014 shares during the last quarter. Peapack Gladstone Financial Corp acquired a new stake in Suncor Energy during the third quarter valued at approximately $206,000. Synovus Financial Corp raised its stake in Suncor Energy by 11.7% during the third quarter. Synovus Financial Corp now owns 81,371 shares of the oil and gas producer’s stock valued at $3,004,000 after buying an additional 8,519 shares in the last quarter. Tidal Investments LLC lifted its holdings in 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 buying an additional 8,207 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Suncor Energy in the 3rd quarter worth approximately $104,000. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Suncor Energy Company Profile

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.