Suncor Energy (NYSE:SU) Upgraded at Desjardins

Desjardins upgraded shares of Suncor Energy (NYSE:SU) (TSE:SU) from a hold rating to a buy rating in a research report released on Thursday morning, MarketBeat Ratings reports.

Other equities research analysts have also issued reports about the stock. TD Securities upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. StockNews.com upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, November 7th. BMO Capital Markets upgraded shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Wednesday, August 7th. Finally, Wolfe Research initiated coverage on shares of Suncor Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $68.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $56.40.

Suncor Energy Price Performance

Suncor Energy stock opened at $40.48 on Thursday. The firm has a market cap of $51.08 billion, a PE ratio of 8.82, a price-to-earnings-growth ratio of 2.87 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 quick ratio of 0.93, a current ratio of 1.59 and a debt-to-equity ratio of 0.24. The company’s 50 day moving average is $38.40 and its two-hundred day moving average is $38.76.

Suncor Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Investors of record on Tuesday, December 3rd will be given a $0.4089 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.04%. This is an increase from Suncor Energy’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Tuesday, December 3rd. Suncor Energy’s dividend payout ratio (DPR) is 35.29%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SU. Vanguard Group Inc. grew its position in Suncor Energy by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 51,226,454 shares of the oil and gas producer’s stock worth $1,890,768,000 after purchasing an additional 691,497 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Suncor Energy by 5.1% in the second quarter. The Manufacturers Life Insurance Company now owns 25,134,149 shares of the oil and gas producer’s stock valued at $956,850,000 after purchasing an additional 1,209,073 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Suncor Energy by 1.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 23,048,048 shares of the oil and gas producer’s stock valued at $878,131,000 after purchasing an additional 366,432 shares during the period. 1832 Asset Management L.P. increased its stake in Suncor Energy by 4.1% in the first quarter. 1832 Asset Management L.P. now owns 22,157,546 shares of the oil and gas producer’s stock valued at $817,835,000 after purchasing an additional 868,475 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in Suncor Energy by 5.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 18,529,253 shares of the oil and gas producer’s stock valued at $683,916,000 after purchasing an additional 1,031,542 shares during the period. 67.37% of the stock is owned by hedge funds and other institutional investors.

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.