Suncor Energy (NYSE:SU) Upgraded at Scotiabank

Scotiabank upgraded shares of Suncor Energy (NYSE:SU) (TSE:SU) to a hold rating in a research report report published on Wednesday morning,Zacks.com reports.

A number of other research firms have also issued reports on SU. StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Saturday. Tudor, Pickering, Holt & Co. raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Monday, February 10th. Bank of America assumed coverage on shares of Suncor Energy in a research note on Wednesday, February 26th. They set a “neutral” rating for the company. Morgan Stanley lowered shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 16th. Finally, Cibc World Mkts raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 11th. Four 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $58.00.

Suncor Energy Price Performance

Shares of NYSE:SU opened at $37.46 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 0.21. Suncor Energy has a fifty-two week low of $33.81 and a fifty-two week high of $41.95. The firm has a 50-day simple moving average of $38.22 and a 200 day simple moving average of $38.15. The company has a market cap of $46.34 billion, a PE ratio of 10.86, a P/E/G ratio of 2.94 and a beta of 1.11.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.07. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. On average, sell-side analysts anticipate that Suncor Energy will post 3.42 EPS for the current year.

Suncor Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 4th will be paid a dividend of $0.399 per share. This represents a $1.60 annualized dividend and a yield of 4.26%. The ex-dividend date of this dividend is Tuesday, March 4th. Suncor Energy’s dividend payout ratio is presently 45.51%.

Institutional Trading of Suncor Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Covestor Ltd lifted its stake in Suncor Energy by 30.5% during the fourth quarter. Covestor Ltd now owns 1,095 shares of the oil and gas producer’s stock valued at $39,000 after purchasing an additional 256 shares during the last quarter. Principal Securities Inc. lifted its stake in Suncor Energy by 2.2% during the fourth quarter. Principal Securities Inc. now owns 12,423 shares of the oil and gas producer’s stock valued at $443,000 after purchasing an additional 265 shares during the last quarter. Stifel Financial Corp lifted its position in shares of Suncor Energy by 0.3% in the 4th quarter. Stifel Financial Corp now owns 95,508 shares of the oil and gas producer’s stock valued at $3,408,000 after acquiring an additional 265 shares in the last quarter. X Square Capital LLC boosted its stake in Suncor Energy by 0.3% in the 4th quarter. X Square Capital LLC now owns 82,720 shares of the oil and gas producer’s stock worth $2,951,000 after purchasing an additional 267 shares during the period. Finally, UMB Bank n.a. boosted its stake in Suncor Energy by 27.5% in the 4th quarter. UMB Bank n.a. now owns 1,389 shares of the oil and gas producer’s stock worth $50,000 after purchasing an additional 300 shares during the period. 67.37% of the stock is owned by institutional investors and hedge funds.

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.