Suncor Energy (NYSE:SU) Downgraded by StockNews.com to “Hold”

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

Several other brokerages have also issued reports on SU. TD Securities upgraded Suncor Energy from a hold rating to a buy rating in a research report on Wednesday, August 7th. The Goldman Sachs Group increased their target price on Suncor Energy from $38.00 to $45.00 and gave the stock a buy rating in a research note on Thursday, May 23rd. Raymond James raised shares of Suncor Energy to a hold rating in a research note on Tuesday, May 28th. Wolfe Research initiated coverage on shares of Suncor Energy in a research note on Thursday, July 18th. They issued an outperform rating and a $68.00 price target on the stock. Finally, BMO Capital Markets upgraded shares of Suncor Energy from a market perform rating to an outperform rating in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Suncor Energy presently has an average rating of Moderate Buy and a consensus target price of $55.83.

Suncor Energy Trading Down 1.4 %

Shares of NYSE SU opened at $37.21 on Friday. Suncor Energy has a 1-year low of $29.45 and a 1-year high of $41.94. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.46 and a quick ratio of 0.93. The business’s 50 day moving average is $38.90 and its two-hundred day moving average is $38.38. The stock has a market capitalization of $47.69 billion, a P/E ratio of 8.29, a PEG ratio of 2.47 and a beta of 1.13.

Suncor Energy (NYSE:SU) (TSE:SU) last released its earnings results on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.51. The firm had revenue of $12.90 billion for the quarter, compared to the consensus estimate of $9.30 billion. Suncor Energy had a return on equity of 16.22% and a net margin of 14.40%. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.71 EPS. As a group, research analysts expect that Suncor Energy will post 3.71 EPS for the current year.

Suncor Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th will be paid a dividend of $0.395 per share. The ex-dividend date is Wednesday, September 4th. This represents a $1.58 dividend on an annualized basis and a yield of 4.25%. Suncor Energy’s payout ratio is 35.86%.

Institutional Investors Weigh In On Suncor Energy

Several institutional investors and hedge funds have recently made changes to their positions in SU. Avantax Advisory Services Inc. acquired a new position in Suncor Energy in the 4th quarter worth approximately $205,000. Coldstream Capital Management Inc. purchased a new stake in shares of Suncor Energy in the 4th quarter valued at $243,000. Corient Private Wealth LLC increased its stake in shares of Suncor Energy by 301.6% in the fourth quarter. Corient Private Wealth LLC now owns 376,269 shares of the oil and gas producer’s stock worth $12,056,000 after acquiring an additional 282,579 shares during the period. Assetmark Inc. raised its holdings in shares of Suncor Energy by 7.3% during the fourth quarter. Assetmark Inc. now owns 33,359 shares of the oil and gas producer’s stock worth $1,069,000 after purchasing an additional 2,261 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in Suncor Energy by 9.6% during the fourth quarter. Franklin Resources Inc. now owns 3,516,181 shares of the oil and gas producer’s stock valued at $112,656,000 after purchasing an additional 308,139 shares during the period. 67.37% of the stock is currently 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.