Suncor Energy (NYSE:SU) Upgraded by Desjardins to Buy Rating

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

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

Suncor Energy Stock Up 0.1 %

NYSE SU opened at $40.48 on Thursday. The company has a quick ratio of 0.93, a current ratio of 1.59 and a debt-to-equity ratio of 0.24. Suncor Energy has a 52 week low of $29.45 and a 52 week high of $41.94. The firm has a market capitalization of $51.08 billion, a price-to-earnings ratio of 8.82, a PEG ratio of 2.87 and a beta of 1.12. The company has a fifty day moving average of $38.40 and a two-hundred day moving average of $38.77.

Suncor Energy Increases Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 4.04%. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.40. Suncor Energy’s dividend payout ratio (DPR) is currently 36.60%.

Institutional Trading of Suncor Energy

Hedge funds have recently added to or reduced their stakes in the business. Eastern Bank bought a new stake in shares of Suncor Energy in the 3rd quarter valued at about $25,000. Trust Co. of Vermont bought a new position in Suncor Energy in the second quarter worth approximately $26,000. Summit Securities Group LLC purchased a new stake in Suncor Energy during the second quarter worth $27,000. Richardson Financial Services Inc. boosted its position in Suncor Energy by 82.8% during the 2nd quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer’s stock valued at $28,000 after acquiring an additional 328 shares in the last quarter. Finally, Ridgewood Investments LLC purchased a new stake in shares of Suncor Energy during the 2nd quarter worth $29,000. 67.37% of the stock is owned by hedge funds and other 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.