Suncor Energy (SU) Upgraded to Buy at ValuEngine

ValuEngine upgraded shares of Suncor Energy (NYSE:SU) (TSE:SU) from a hold rating to a buy rating in a report released on Friday morning.

Other research analysts have also recently issued research reports about the company. Piper Jaffray set a $46.00 price objective on Suncor Energy and gave the stock a buy rating in a research report on Friday, February 9th. TD Securities upgraded Suncor Energy from a hold rating to a buy rating in a research report on Friday, February 9th. Zacks Investment Research upgraded Suncor Energy from a hold rating to a buy rating and set a $36.00 price objective on the stock in a research report on Tuesday, March 6th. Bank of America began coverage on Suncor Energy in a research report on Thursday. They set a buy rating and a $41.00 price objective on the stock. Finally, JPMorgan Chase upgraded Suncor Energy from a neutral rating to an overweight rating in a research report on Friday, February 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating and fifteen have given a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $46.44.

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SU stock traded down $0.05 during trading hours on Friday, hitting $36.11. 4,571,217 shares of the stock were exchanged, compared to its average volume of 3,445,509. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.00 and a quick ratio of 0.64. The stock has a market capitalization of $59,263.68, a price-to-earnings ratio of 24.27, a PEG ratio of 2.54 and a beta of 0.82. Suncor Energy has a 12 month low of $27.96 and a 12 month high of $38.39.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings data on Thursday, February 8th. The oil and gas producer reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.07. The firm had revenue of $7.12 billion for the quarter, compared to analysts’ expectations of $6.43 billion. Suncor Energy had a return on equity of 7.15% and a net margin of 13.93%. research analysts expect that Suncor Energy will post 1.67 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, March 26th. Investors of record on Monday, March 5th were given a $0.286 dividend. The ex-dividend date of this dividend was Friday, March 2nd. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.17%. This is a boost from Suncor Energy’s previous quarterly dividend of $0.25. Suncor Energy’s dividend payout ratio (DPR) is presently 76.16%.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company grew its position in Suncor Energy by 19.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 15,055,215 shares of the oil and gas producer’s stock valued at $552,828,000 after acquiring an additional 2,495,585 shares during the last quarter. Letko Brosseau & Associates Inc. grew its position in Suncor Energy by 7.7% in the fourth quarter. Letko Brosseau & Associates Inc. now owns 14,415,591 shares of the oil and gas producer’s stock valued at $530,970,000 after acquiring an additional 1,030,634 shares during the last quarter. Lyrical Asset Management LP grew its position in Suncor Energy by 3.6% in the fourth quarter. Lyrical Asset Management LP now owns 7,804,467 shares of the oil and gas producer’s stock valued at $286,580,000 after acquiring an additional 270,000 shares during the last quarter. APG Asset Management N.V. grew its position in Suncor Energy by 53.9% in the fourth quarter. APG Asset Management N.V. now owns 7,248,085 shares of the oil and gas producer’s stock valued at $222,332,000 after acquiring an additional 2,537,800 shares during the last quarter. Finally, Mawer Investment Management Ltd. grew its position in Suncor Energy by 20.0% in the fourth quarter. Mawer Investment Management Ltd. now owns 6,279,923 shares of the oil and gas producer’s stock valued at $230,599,000 after acquiring an additional 1,048,670 shares during the last quarter. Institutional investors own 65.62% of the company’s stock.

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About Suncor Energy

Suncor Energy Inc is a Canada-based integrated energy company. The Company is focused on developing Canada’s petroleum resource basin, Athabasca oil sands. The Company operates in three business segments: Oil Sands, Exploration and Production (E&P), and Refining and Marketing. The Company’s Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations.

Analyst Recommendations for Suncor Energy (NYSE:SU)

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