Suncor Energy (NYSE:SU) Upgraded by Cibc World Mkts to Strong-Buy Rating

Cibc World Mkts upgraded shares of Suncor Energy (NYSE:SU) (TSE:SU) from a hold rating to a strong-buy rating in a report released on Tuesday morning,Zacks.com reports.

Other equities research analysts have also issued research reports about the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $66.00 price objective on shares of Suncor Energy in a report on Tuesday, January 7th. Desjardins raised Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Tudor, Pickering, Holt & Co. upgraded Suncor Energy from a “hold” rating to a “buy” rating in a report on Monday. Morgan Stanley cut Suncor Energy from an “overweight” rating to an “equal weight” rating in a report on Monday, December 16th. Finally, StockNews.com upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Suncor Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.00.

Suncor Energy Stock Performance

Suncor Energy stock opened at $39.62 on Tuesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 1.04. The firm has a market capitalization of $49.31 billion, a P/E ratio of 11.48, a price-to-earnings-growth ratio of 2.96 and a beta of 1.12. Suncor Energy has a 1-year low of $31.25 and a 1-year high of $41.94. The company’s 50-day moving average is $37.70 and its 200 day moving average is $38.58.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.07. Suncor Energy had a return on equity of 15.33% and a net margin of 11.80%. Research analysts forecast that Suncor Energy will post 3.25 EPS for the current year.

Suncor Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 4th will be given a dividend of $0.399 per share. This represents a $1.60 annualized dividend and a dividend yield of 4.03%. The ex-dividend date of this dividend is Tuesday, March 4th. Suncor Energy’s payout ratio is 46.67%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Eastern Bank acquired a new stake in Suncor Energy in the third quarter valued at approximately $25,000. HHM Wealth Advisors LLC lifted its holdings in shares of Suncor Energy by 62.1% during the 4th quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer’s stock valued at $30,000 after purchasing an additional 325 shares during the last quarter. Crowley Wealth Management Inc. acquired a new stake in shares of Suncor Energy in the 4th quarter worth $35,000. Lee Danner & Bass Inc. purchased a new position in Suncor Energy during the 4th quarter worth $36,000. Finally, Golden State Wealth Management LLC acquired a new position in Suncor Energy during the 4th quarter valued at about $39,000. Hedge funds and other institutional investors 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.