StockNews.com Upgrades Suncor Energy (NYSE:SU) to “Buy”

Suncor Energy (NYSE:SU) (TSE:SU) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Tuesday.

Several other brokerages have also recently commented on SU. Desjardins raised Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. BMO Capital Markets raised Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Wednesday, August 7th. Finally, TD Securities raised Suncor Energy from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $56.40.

Suncor Energy Price Performance

Shares of NYSE:SU opened at $40.83 on Tuesday. Suncor Energy has a 12 month low of $29.45 and a 12 month high of $41.94. The stock has a market cap of $51.52 billion, a price-to-earnings ratio of 8.90, a PEG ratio of 2.79 and a beta of 1.12. The stock’s 50 day moving average price is $38.66 and its 200 day moving average price is $38.82. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 1.04.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Toronto Dominion Bank grew its position in Suncor Energy by 59.7% during the 1st quarter. Toronto Dominion Bank now owns 17,606,934 shares of the oil and gas producer’s stock worth $649,872,000 after purchasing an additional 6,580,260 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Suncor Energy by 90.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 8,299,876 shares of the oil and gas producer’s stock worth $316,226,000 after purchasing an additional 3,951,287 shares in the last quarter. National Bank of Canada FI grew its position in Suncor Energy by 60.7% during the 2nd quarter. National Bank of Canada FI now owns 8,661,861 shares of the oil and gas producer’s stock worth $328,876,000 after purchasing an additional 3,272,896 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Suncor Energy by 23.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,695,560 shares of the oil and gas producer’s stock worth $357,827,000 after purchasing an additional 1,829,936 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in Suncor Energy by 23.0% during the 3rd quarter. Principal Financial Group Inc. now owns 6,939,573 shares of the oil and gas producer’s stock worth $256,429,000 after purchasing an additional 1,296,142 shares in the last quarter. Institutional investors own 67.37% of the company’s stock.

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.