Suncor Energy (NYSE:SU) Upgraded by Scotiabank to Hold Rating

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

Other equities research analysts also recently issued research reports about the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $66.00 target price on shares of Suncor Energy in a research report on Tuesday, January 7th. Tudor Pickering upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 10th. Morgan Stanley downgraded shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 16th. Tudor, Pickering, Holt & Co. upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Monday, February 10th. Finally, Bank of America assumed coverage on shares of Suncor Energy in a report on Wednesday, February 26th. They set a “neutral” rating on the stock. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $58.00.

Suncor Energy Trading Down 0.7 %

Suncor Energy stock opened at $37.46 on Wednesday. The company has a 50 day moving average price of $38.22 and a 200 day moving average price of $38.15. Suncor Energy has a 52 week low of $33.81 and a 52 week high of $41.95. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.33. The firm has a market capitalization of $46.34 billion, a price-to-earnings 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 released its earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share (EPS) for the quarter, topping 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%. Research analysts forecast that Suncor Energy will post 3.42 EPS for the current year.

Suncor Energy Cuts Dividend

The company 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 $0.399 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $1.60 dividend on an annualized basis and a yield of 4.26%. Suncor Energy’s payout ratio is presently 45.51%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. HHM Wealth Advisors LLC grew its stake in Suncor Energy by 62.1% in the 4th quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer’s stock valued at $30,000 after buying an additional 325 shares during the last quarter. Crowley Wealth Management Inc. acquired a new stake in Suncor Energy in the 4th quarter worth $35,000. Lee Danner & Bass Inc. acquired a new stake in Suncor Energy in the 4th quarter worth $36,000. Golden State Wealth Management LLC acquired a new stake in Suncor Energy in the 4th quarter worth $39,000. Finally, Covestor Ltd grew its position 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 worth $39,000 after purchasing an additional 256 shares during the last quarter. 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.