Suncor Energy (NYSE:SU) Upgraded at 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 equities analysts have also recently issued reports on the company. TD Securities upgraded Suncor Energy from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. Desjardins raised Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Finally, BMO Capital Markets raised shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $56.40.

Suncor Energy Price Performance

NYSE SU opened at $41.10 on Tuesday. The stock has a market cap of $51.71 billion, a price-to-earnings ratio of 8.95, a PEG ratio of 2.83 and a beta of 1.12. Suncor Energy has a 52-week low of $29.45 and a 52-week high of $41.94. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.04 and a current ratio of 1.59. The business has a 50 day simple moving average of $38.76 and a 200 day simple moving average of $38.84.

Suncor Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 3rd will be paid a dividend of $0.4089 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.98%. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.40. Suncor Energy’s dividend payout ratio (DPR) is 36.60%.

Institutional Trading of Suncor Energy

Institutional investors have recently modified their holdings of the stock. Toronto Dominion Bank increased its position in Suncor Energy by 59.7% during the 1st quarter. Toronto Dominion Bank now owns 17,606,934 shares of the oil and gas producer’s stock worth $649,872,000 after purchasing an additional 6,580,260 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in Suncor Energy by 90.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 8,299,876 shares of the oil and gas producer’s stock worth $316,226,000 after buying an additional 3,951,287 shares during the period. National Bank of Canada FI grew its holdings in Suncor Energy by 60.7% during the 2nd quarter. National Bank of Canada FI now owns 8,661,861 shares of the oil and gas producer’s stock worth $328,876,000 after acquiring an additional 3,272,896 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Suncor Energy by 23.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,695,560 shares of the oil and gas producer’s stock valued at $357,827,000 after acquiring an additional 1,829,936 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Suncor Energy by 23.0% during the third quarter. Principal Financial Group Inc. now owns 6,939,573 shares of the oil and gas producer’s stock worth $256,429,000 after purchasing an additional 1,296,142 shares during the period. 67.37% of the stock is currently owned by institutional investors.

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.