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

StockNews.com lowered shares of Suncor Energy (NYSE:SU) (TSE:SU) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.

A number of other research firms have also recently issued reports on SU. Morgan Stanley upped their price objective on shares of Suncor Energy from $50.00 to $52.00 and gave the stock an overweight rating in a research report on Thursday, March 28th. The Goldman Sachs Group upped their price objective on shares of Suncor Energy from $38.00 to $45.00 and gave the stock a buy rating in a research report on Thursday, May 23rd. TD Securities upped their price objective on shares of Suncor Energy from $52.00 to $57.00 and gave the stock a hold rating in a research report on Wednesday, May 22nd. Finally, Raymond James raised shares of Suncor Energy to a hold rating in a report on Tuesday, May 28th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Suncor Energy presently has a consensus rating of Moderate Buy and a consensus target price of $51.67.

Suncor Energy Price Performance

Shares of NYSE:SU opened at $36.58 on Wednesday. The firm has a 50 day moving average of $38.94 and a 200-day moving average of $35.34. The stock has a market capitalization of $47.04 billion, a PE ratio of 8.15, a PEG ratio of 3.65 and a beta of 1.11. The company has a current ratio of 1.51, a quick ratio of 0.97 and a debt-to-equity ratio of 0.25. Suncor Energy has a 12 month low of $28.07 and a 12 month high of $41.50.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings data on Tuesday, May 7th. The oil and gas producer reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.15. The business had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $8.64 billion. Suncor Energy had a net margin of 15.38% and a return on equity of 15.69%. On average, equities research analysts predict that Suncor Energy will post 3.37 EPS for the current fiscal year.

Suncor Energy Cuts Dividend

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

Institutional Investors Weigh In On Suncor Energy

Institutional investors have recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Suncor Energy by 10.7% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 29,873 shares of the oil and gas producer’s stock valued at $957,000 after purchasing an additional 2,895 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Suncor Energy by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 50,379,614 shares of the oil and gas producer’s stock valued at $1,732,051,000 after purchasing an additional 731,163 shares during the last quarter. Sanders Capital LLC boosted its stake in shares of 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 purchasing an additional 1,568,629 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Suncor Energy by 13.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,348,348 shares of the oil and gas producer’s stock valued at $183,876,000 after purchasing an additional 628,262 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Suncor Energy by 1,689.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 565,339 shares of the oil and gas producer’s stock valued at $18,118,000 after purchasing an additional 533,754 shares during the last quarter. 67.37% of the stock is owned by 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.