Suncor Energy (NYSE:SU) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Suncor Energy (NYSE:SU) (TSE:SU) from a hold rating to a buy rating in a report released on Tuesday.

Several other equities analysts have also weighed in on SU. Desjardins upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. BMO Capital Markets upgraded Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Wednesday, August 7th. Finally, TD Securities upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $56.40.

Suncor Energy Price Performance

Suncor Energy stock opened at $41.10 on Tuesday. The stock has a market capitalization of $51.71 billion, a price-to-earnings ratio of 8.95, a PEG ratio of 2.83 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 stock’s 50 day moving average price is $38.76 and its two-hundred day moving average price is $38.84. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.04 and a current ratio of 1.59.

Suncor Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 24th. Investors of record on Tuesday, December 3rd will be issued a $0.4089 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date is Tuesday, December 3rd. This is a boost from Suncor Energy’s previous quarterly dividend of $0.40. Suncor Energy’s payout ratio is 36.60%.

Institutional Investors Weigh In On Suncor Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SU. TD Private Client Wealth LLC lifted its holdings in shares of Suncor Energy by 2.7% in the third quarter. TD Private Client Wealth LLC now owns 18,646 shares of the oil and gas producer’s stock worth $688,000 after buying an additional 487 shares in the last quarter. Toronto Dominion Bank lifted its stake in Suncor Energy by 1.8% in the 3rd quarter. Toronto Dominion Bank now owns 18,546,207 shares of the oil and gas producer’s stock worth $684,726,000 after purchasing an additional 333,440 shares in the last quarter. Coldstream Capital Management Inc. grew its position in shares of Suncor Energy by 5.0% during the 3rd quarter. Coldstream Capital Management Inc. now owns 7,486 shares of the oil and gas producer’s stock valued at $276,000 after purchasing an additional 354 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Suncor Energy by 7.6% in the third quarter. Geode Capital Management LLC now owns 5,891,596 shares of the oil and gas producer’s stock worth $220,955,000 after purchasing an additional 413,797 shares during the period. Finally, M&T Bank Corp raised its position in shares of Suncor Energy by 6.2% in the third quarter. M&T Bank Corp now owns 14,496 shares of the oil and gas producer’s stock worth $535,000 after buying an additional 842 shares in the last quarter. 67.37% of the stock is currently owned by 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.