Suncor Energy (NYSE:SU) Earns Neutral Rating from Analysts at Bank of America

Bank of America assumed coverage on shares of Suncor Energy (NYSE:SU) (TSE:SU) in a report released on Wednesday. The brokerage issued a neutral rating on the oil and gas producer’s stock.

Several other brokerages have also recently issued reports on SU. Cibc World Mkts upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 11th. Desjardins upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Tudor, Pickering, Holt & Co. upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research report on Monday, February 10th. Royal Bank of Canada reissued an “outperform” rating and issued a $66.00 target price on shares of Suncor Energy in a report on Tuesday, January 7th. Finally, Morgan Stanley downgraded Suncor Energy from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 16th. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $58.00.

Suncor Energy Stock Up 0.2 %

SU stock opened at $38.28 on Wednesday. The stock has a market capitalization of $47.64 billion, a P/E ratio of 11.10, a P/E/G ratio of 2.94 and a beta of 1.12. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.33 and a quick ratio of 0.86. Suncor Energy has a 1-year low of $33.79 and a 1-year high of $41.94. The business has a fifty day moving average price of $38.28 and a 200-day moving average price of $38.64.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share for the quarter, topping 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%. Equities 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 declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 4th will be issued a dividend of $0.399 per share. This represents a $1.60 annualized dividend and a yield of 4.17%. The ex-dividend date is Tuesday, March 4th. Suncor Energy’s dividend payout ratio is currently 45.22%.

Institutional Trading of Suncor Energy

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in 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 buying an additional 323,714 shares in the last quarter. Artisan Partners Limited Partnership boosted its stake in shares of Suncor Energy by 0.7% in the fourth 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 position in shares of Suncor Energy by 0.9% during the fourth 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 purchasing an additional 209,447 shares in the last quarter. Toronto Dominion Bank raised its stake in Suncor Energy by 3.0% during the 4th quarter. Toronto Dominion Bank now owns 19,098,225 shares of the oil and gas producer’s stock valued at $680,847,000 after purchasing an additional 552,018 shares during the period. Finally, CIBC Asset Management Inc lifted its holdings in 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 purchasing an additional 180,533 shares in the last quarter. 67.37% of the stock is owned by hedge funds and other institutional investors.

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.