Suncor Energy (NYSE:SU) Upgraded to Hold at Scotiabank

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

Several other analysts have also recently issued reports on the stock. StockNews.com upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Saturday. Bank of America began coverage on shares of Suncor Energy in a report on Wednesday, February 26th. They set a “neutral” rating for the company. Cibc World Mkts raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 11th. Tudor, Pickering, Holt & Co. raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Monday, February 10th. Finally, Morgan Stanley lowered shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 16th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Suncor Energy currently has an average rating of “Moderate Buy” and a consensus price target of $58.00.

Suncor Energy Trading Down 0.7 %

NYSE:SU opened at $37.46 on Wednesday. The stock has a market cap of $46.34 billion, a price-to-earnings ratio of 10.86, a PEG ratio of 2.94 and a beta of 1.11. The company’s 50 day moving average price is $38.22 and its 200-day moving average price is $38.15. Suncor Energy has a 52 week low of $33.81 and a 52 week high of $41.95. The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 0.21.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.07. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. On average, equities research analysts forecast that Suncor Energy will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Cuts Dividend

The company 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 4.26%. The ex-dividend date is Tuesday, March 4th. Suncor Energy’s payout ratio is currently 45.51%.

Institutional Trading of Suncor Energy

A number of institutional investors have recently made changes to their positions in the stock. HHM Wealth Advisors LLC grew its stake in Suncor Energy by 62.1% in the fourth quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer’s stock valued at $30,000 after purchasing an additional 325 shares in the last quarter. Crowley Wealth Management Inc. bought a new position in shares of Suncor Energy during the 4th quarter worth about $35,000. Lee Danner & Bass Inc. acquired a new position in Suncor Energy during the fourth quarter worth $36,000. Golden State Wealth Management LLC acquired a new position in shares of Suncor Energy in the 4th quarter worth approximately $39,000. Finally, Covestor Ltd grew its stake in shares of Suncor Energy by 30.5% during the fourth quarter. Covestor Ltd now owns 1,095 shares of the oil and gas producer’s stock valued at $39,000 after purchasing an additional 256 shares during the last quarter. 67.37% of the stock is owned by institutional investors and hedge funds.

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.