Suncor Energy (NYSE:SU) Upgraded 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 report issued on Friday morning.

Separately, Morgan Stanley raised their price target on Suncor Energy from $50.00 to $52.00 and gave the stock an overweight rating in a research report on Thursday, March 28th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $52.00.

Suncor Energy Price Performance

Shares of SU stock opened at $37.70 on Friday. The stock’s fifty day moving average is $35.17 and its 200-day moving average is $33.56. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.88 and a current ratio of 1.44. The stock has a market capitalization of $48.52 billion, a PE ratio of 8.02, a PEG ratio of 3.57 and a beta of 1.13. Suncor Energy has a 52 week low of $27.59 and a 52 week high of $39.32.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results on Wednesday, February 21st. The oil and gas producer reported $0.93 EPS for the quarter, topping the consensus estimate of $0.80 by $0.13. The company had revenue of $10.39 billion for the quarter, compared to analysts’ expectations of $8.46 billion. Suncor Energy had a return on equity of 16.08% and a net margin of 16.33%. During the same quarter in the prior year, the business earned $1.33 earnings per share. Equities research analysts expect that Suncor Energy will post 3.58 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Monday, March 4th were issued a dividend of $0.406 per share. This is a boost from Suncor Energy’s previous quarterly dividend of $0.39. This represents a $1.62 annualized dividend and a yield of 4.31%. The ex-dividend date of this dividend was Friday, March 1st. Suncor Energy’s dividend payout ratio (DPR) is presently 34.26%.

Hedge Funds Weigh In On Suncor Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SU. Johnson Financial Group Inc. bought a new stake in shares of Suncor Energy in the 4th quarter valued at about $25,000. Richardson Financial Services Inc. bought a new stake in shares of Suncor Energy in the 4th quarter valued at about $25,000. Arlington Trust Co LLC bought a new stake in shares of Suncor Energy in the 3rd quarter valued at about $29,000. Optiver Holding B.V. bought a new stake in shares of Suncor Energy in the 3rd quarter valued at about $29,000. Finally, Sunbelt Securities Inc. bought a new stake in shares of Suncor Energy in the 1st quarter valued at about $31,000. 67.37% of the stock is owned by institutional investors and hedge funds.

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.