Suncor Energy (NYSE:SU) Now Covered by Analysts at Bank of America

Bank of America assumed coverage on shares of Suncor Energy (NYSE:SU) (TSE:SU) in a research note published on Wednesday morning. The brokerage issued a neutral rating on the oil and gas producer’s stock.

SU has been the subject of a number of other reports. Desjardins raised Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Morgan Stanley cut Suncor Energy from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 16th. Tudor Pickering raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 10th. Cibc World Mkts raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 11th. Finally, StockNews.com downgraded Suncor Energy from a “buy” rating to a “hold” rating in a research note on Tuesday. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Suncor Energy currently has a consensus rating of “Moderate Buy” and an average price target of $58.00.

Suncor Energy Trading Down 1.0 %

NYSE:SU opened at $38.26 on Wednesday. The stock has a 50-day simple moving average of $38.13 and a 200-day simple moving average of $38.65. The stock has a market cap of $47.62 billion, a P/E ratio of 11.09, a P/E/G ratio of 2.94 and a beta of 1.12. Suncor Energy has a 1 year low of $33.26 and a 1 year high of $41.94. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.33.

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

Suncor Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 4th will be paid a dividend of $0.399 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date of this dividend is Tuesday, March 4th. Suncor Energy’s dividend payout ratio (DPR) is 45.22%.

Hedge Funds Weigh In On Suncor Energy

Large investors have recently modified their holdings of the business. HHM Wealth Advisors LLC raised its stake 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 worth $30,000 after buying an additional 325 shares in the last quarter. Crowley Wealth Management Inc. purchased a new position in shares of Suncor Energy during the 4th quarter worth approximately $35,000. Lee Danner & Bass Inc. purchased a new position in shares of Suncor Energy during the 4th quarter worth approximately $36,000. Golden State Wealth Management LLC purchased a new position in Suncor Energy in the 4th quarter valued at approximately $39,000. Finally, Covestor Ltd increased its stake in Suncor Energy by 30.5% in the 4th 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 in the last quarter. 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.