Suncor Energy (NYSE:SU) Downgraded to Hold Rating by StockNews.com

StockNews.com downgraded shares of Suncor Energy (NYSE:SU) (TSE:SU) from a buy rating to a hold rating in a research note issued to investors on Friday.

A number of other analysts have also recently weighed in on the company. Desjardins upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Cibc World Mkts upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 11th. Tudor Pickering upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 10th. Royal Bank of Canada restated an “outperform” rating and issued a $66.00 price target on shares of Suncor Energy in a research note on Tuesday, January 7th. Finally, Tudor, Pickering, Holt & Co. raised Suncor Energy from a “hold” rating to a “buy” rating in a report on Monday, February 10th. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $58.00.

Suncor Energy Trading Up 2.3 %

NYSE:SU opened at $36.63 on Friday. The firm has a market cap of $45.32 billion, a PE ratio of 10.62, a price-to-earnings-growth ratio of 2.94 and a beta of 1.11. The stock has a fifty day moving average price of $38.29 and a 200 day moving average price of $38.26. Suncor Energy has a 12-month low of $33.81 and a 12-month high of $41.95. The company has a current ratio of 1.33, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share 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%. Sell-side analysts anticipate that Suncor Energy will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 4th will be paid a dividend of $0.399 per share. This represents a $1.60 annualized dividend and a yield of 4.36%. The ex-dividend date is Tuesday, March 4th. Suncor Energy’s dividend payout ratio is presently 45.51%.

Institutional Trading of Suncor Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Suncor Energy by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 53,019,357 shares of the oil and gas producer’s stock worth $1,892,526,000 after acquiring an additional 323,714 shares during the period. Artisan Partners Limited Partnership grew its holdings in shares of Suncor Energy by 0.7% in the 4th quarter. Artisan Partners Limited Partnership now owns 24,289,019 shares of the oil and gas producer’s stock worth $865,885,000 after acquiring an additional 169,700 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of Suncor Energy by 0.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 23,308,055 shares of the oil and gas producer’s stock worth $831,631,000 after acquiring an additional 209,447 shares during the period. Toronto Dominion Bank grew its holdings in shares of Suncor Energy by 3.0% in the 4th quarter. Toronto Dominion Bank now owns 19,098,225 shares of the oil and gas producer’s stock worth $680,847,000 after acquiring an additional 552,018 shares during the period. Finally, CIBC Asset Management Inc grew its holdings in shares of Suncor Energy by 1.3% in the 3rd quarter. CIBC Asset Management Inc now owns 13,942,455 shares of the oil and gas producer’s stock worth $516,728,000 after acquiring an additional 180,533 shares during the period. 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.