Suncor Energy (NYSE:SU) Stock Rating Upgraded by 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 released on Tuesday.

A number of other research analysts also recently weighed in on SU. Desjardins raised Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Royal Bank of Canada reiterated an “outperform” rating and issued a $66.00 target price on shares of Suncor Energy in a report on Tuesday, January 7th. Finally, Morgan Stanley downgraded Suncor Energy from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 16th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $58.00.

Suncor Energy Trading Up 1.2 %

Shares of NYSE:SU opened at $39.86 on Tuesday. The company has a current ratio of 1.59, a quick ratio of 1.04 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $49.61 billion, a PE ratio of 8.68, a P/E/G ratio of 2.43 and a beta of 1.12. Suncor Energy has a 1 year low of $31.03 and a 1 year high of $41.94. The firm has a fifty day moving average price of $38.07 and a 200 day moving average price of $38.50.

Suncor Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 3rd were paid a $0.4089 dividend. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a dividend yield of 4.10%. The ex-dividend date of this dividend was Tuesday, December 3rd. Suncor Energy’s dividend payout ratio is currently 35.08%.

Institutional Investors Weigh In On Suncor Energy

Several large investors have recently made changes to their positions in the company. Eastern Bank acquired a new position in Suncor Energy in the third quarter valued at about $25,000. Richardson Financial Services Inc. boosted its holdings in shares of Suncor Energy by 82.8% in the 2nd quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer’s stock worth $28,000 after acquiring an additional 328 shares in the last quarter. Waldron Private Wealth LLC bought a new stake in Suncor Energy during the 3rd quarter worth approximately $49,000. Transamerica Financial Advisors Inc. grew its position in Suncor Energy by 2,311.0% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 1,977 shares of the oil and gas producer’s stock worth $73,000 after acquiring an additional 1,895 shares during the last quarter. Finally, Mattson Financial Services LLC acquired a new stake in Suncor Energy during the 2nd quarter valued at $82,000. 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.