StockNews.com Lowers Suncor Energy (NYSE:SU) to Hold

StockNews.com lowered shares of Suncor Energy (NYSE:SUFree Report) (TSE:SU) from a buy rating to a hold rating in a research note published on Wednesday.

SU has been the topic of several other research reports. TD Securities lifted their price target on Suncor Energy from $52.00 to $57.00 and gave the stock a hold rating in a report on Wednesday, May 22nd. Morgan Stanley lifted their price target on Suncor Energy from $50.00 to $52.00 and gave the stock an overweight rating in a report on Thursday, March 28th. Raymond James upgraded Suncor Energy to a hold rating in a report on Tuesday, May 28th. Finally, The Goldman Sachs Group lifted their price target on Suncor Energy from $38.00 to $45.00 and gave the stock a buy rating in a report on Thursday, May 23rd. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $51.67.

Read Our Latest Report on Suncor Energy

Suncor Energy Trading Down 0.9 %

Shares of SU stock opened at $36.59 on Wednesday. The stock’s fifty day moving average is $38.94 and its two-hundred day moving average is $35.32. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.97 and a current ratio of 1.51. The firm has a market capitalization of $47.05 billion, a P/E ratio of 8.15, a PEG ratio of 3.76 and a beta of 1.11. Suncor Energy has a fifty-two week low of $28.07 and a fifty-two week high of $41.50.

Suncor Energy (NYSE:SUGet Free Report) (TSE:SU) last announced its quarterly earnings data on Tuesday, May 7th. The oil and gas producer reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.15. Suncor Energy had a return on equity of 15.69% and a net margin of 15.38%. The company had revenue of $9.29 billion for the quarter, compared to analyst estimates of $8.64 billion. Research analysts expect that Suncor Energy will post 3.37 earnings per share for the current fiscal year.

Suncor Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Tuesday, June 4th will be given a $0.395 dividend. This represents a $1.58 annualized dividend and a yield of 4.32%. The ex-dividend date is Tuesday, June 4th. Suncor Energy’s dividend payout ratio is currently 35.19%.

Hedge Funds Weigh In On Suncor Energy

Several institutional investors have recently bought and sold shares of the company. Sanders Capital LLC grew its position in Suncor Energy by 2.8% in the 4th quarter. Sanders Capital LLC now owns 57,318,037 shares of the oil and gas producer’s stock valued at $1,836,470,000 after acquiring an additional 1,568,629 shares in the last quarter. Vanguard Group Inc. grew its position in Suncor Energy by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 51,226,454 shares of the oil and gas producer’s stock valued at $1,890,768,000 after acquiring an additional 691,497 shares in the last quarter. TD Asset Management Inc grew its position in Suncor Energy by 16.8% in the 4th quarter. TD Asset Management Inc now owns 32,070,496 shares of the oil and gas producer’s stock valued at $1,032,453,000 after acquiring an additional 4,612,764 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Suncor Energy by 8.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 22,384,816 shares of the oil and gas producer’s stock valued at $717,210,000 after acquiring an additional 1,725,969 shares in the last quarter. Finally, 1832 Asset Management L.P. grew its position in shares of Suncor Energy by 4.1% during the first quarter. 1832 Asset Management L.P. now owns 22,157,546 shares of the oil and gas producer’s stock worth $817,835,000 after buying an additional 868,475 shares in the last quarter. 67.37% of the stock is owned by institutional investors and hedge funds.

Suncor Energy Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Suncor Energy (NYSE:SU)

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