Suncor Energy (NYSE:SU) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Suncor Energy (NYSE:SU) (TSE:SU) from a buy rating to a hold rating in a research note released on Wednesday.

Separately, Morgan Stanley boosted their price target on shares of Suncor Energy from $50.00 to $52.00 and gave the company an overweight rating in a report on Thursday, March 28th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $52.00.

Suncor Energy Stock Performance

Shares of NYSE SU opened at $39.07 on Wednesday. Suncor Energy has a 52-week low of $27.59 and a 52-week high of $39.73. The stock has a market capitalization of $50.29 billion, a price-to-earnings ratio of 8.31, a PEG ratio of 3.38 and a beta of 1.11. The company has a quick ratio of 0.88, a current ratio of 1.44 and a debt-to-equity ratio of 0.26. The stock’s fifty day simple moving average is $37.15 and its 200 day simple moving average is $34.12.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings results on Wednesday, February 21st. The oil and gas producer reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.13. Suncor Energy had a return on equity of 16.08% and a net margin of 16.33%. The firm had revenue of $10.39 billion for the quarter, compared to analysts’ expectations of $8.46 billion. During the same quarter last year, the business posted $1.33 EPS. As a group, sell-side analysts forecast that Suncor Energy will post 3.77 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 4th were given a dividend of $0.406 per share. The ex-dividend date of this dividend was Friday, March 1st. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.39. This represents a $1.62 dividend on an annualized basis and a yield of 4.16%. Suncor Energy’s dividend payout ratio (DPR) is presently 34.04%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. TD Asset Management Inc increased its position in Suncor Energy by 16.8% in the 4th quarter. TD Asset Management Inc now owns 32,070,496 shares of the oil and gas producer’s stock worth $1,032,453,000 after purchasing an additional 4,612,764 shares during the last quarter. Invesco Ltd. increased its holdings in Suncor Energy by 35.0% in the third quarter. Invesco Ltd. now owns 16,466,624 shares of the oil and gas producer’s stock worth $566,123,000 after buying an additional 4,271,009 shares during the last quarter. Alberta Investment Management Corp raised its position in Suncor Energy by 113.8% during the third quarter. Alberta Investment Management Corp now owns 7,630,881 shares of the oil and gas producer’s stock valued at $263,614,000 after acquiring an additional 4,062,019 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Suncor Energy by 669.2% in the first quarter. Assenagon Asset Management S.A. now owns 4,348,589 shares of the oil and gas producer’s stock valued at $160,507,000 after acquiring an additional 3,783,250 shares during the last quarter. Finally, AGF Management Ltd. grew its position in Suncor Energy by 454.9% in the fourth quarter. AGF Management Ltd. now owns 3,586,421 shares of the oil and gas producer’s stock worth $114,909,000 after acquiring an additional 2,940,103 shares in the last quarter. Institutional investors and hedge funds own 67.37% of the company’s stock.

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.