Suncor Energy (NYSE:SU) Downgraded 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 report sent to investors on Friday.

Several other equities analysts have also recently issued reports on SU. Raymond James upgraded shares of Suncor Energy to a hold rating in a research report on Tuesday, May 28th. The Goldman Sachs Group raised their target price on Suncor Energy from $38.00 to $45.00 and gave the company a buy rating in a research note on Thursday, May 23rd. TD Securities upgraded Suncor Energy from a hold rating to a buy rating in a report on Wednesday, August 7th. BMO Capital Markets upgraded shares of Suncor Energy from a market perform rating to an outperform rating in a report on Wednesday, August 7th. Finally, Wolfe Research initiated coverage on Suncor Energy in a research note on Thursday, July 18th. They issued an outperform rating and a $68.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $55.83.

Suncor Energy Trading Down 1.4 %

Shares of SU stock opened at $37.21 on Friday. The business has a 50-day moving average of $38.90 and a 200 day moving average of $38.38. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.46 and a quick ratio of 0.93. Suncor Energy has a 1-year low of $29.45 and a 1-year high of $41.94. The stock has a market capitalization of $47.69 billion, a PE ratio of 8.29, a P/E/G ratio of 2.47 and a beta of 1.13.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings results on Tuesday, August 6th. The oil and gas producer reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.51. Suncor Energy had a net margin of 14.40% and a return on equity of 16.22%. The company had revenue of $12.90 billion during the quarter, compared to analyst estimates of $9.30 billion. During the same period in the prior year, the business posted $0.71 EPS. The firm’s revenue was up 10.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Suncor Energy will post 3.71 earnings per share for the current year.

Suncor Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th will be issued a $0.395 dividend. This represents a $1.58 annualized dividend and a yield of 4.25%. The ex-dividend date of this dividend is Wednesday, September 4th. Suncor Energy’s dividend payout ratio is 35.86%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SU. First Horizon Advisors Inc. boosted its stake in Suncor Energy by 6.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 4,879 shares of the oil and gas producer’s stock worth $186,000 after purchasing an additional 281 shares during the period. Adirondack Trust Co. increased its holdings in Suncor Energy by 45.6% in the 4th quarter. Adirondack Trust Co. now owns 1,000 shares of the oil and gas producer’s stock valued at $34,000 after acquiring an additional 313 shares during the last quarter. Independence Bank of Kentucky lifted its stake in Suncor Energy by 6.7% in the 1st quarter. Independence Bank of Kentucky now owns 5,050 shares of the oil and gas producer’s stock worth $186,000 after purchasing an additional 315 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Suncor Energy by 11.0% during the 2nd quarter. Blue Trust Inc. now owns 3,278 shares of the oil and gas producer’s stock valued at $121,000 after purchasing an additional 325 shares during the last quarter. Finally, Richardson Financial Services Inc. grew its position in shares of Suncor Energy by 82.8% during the second quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer’s stock valued at $28,000 after purchasing an additional 328 shares in the last quarter. Hedge funds and other institutional investors own 67.37% of the company’s stock.

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.