Suncor Energy (NYSE:SU) Upgraded to Buy at Edward Jones

Edward Jones upgraded shares of Suncor Energy (NYSE:SU) (TSE:SU) from a hold rating to a buy rating in a research note published on Monday, November 20th, Marketbeat Ratings reports.

A number of other research analysts have also issued reports on the company. Canaccord Genuity reaffirmed a buy rating and set a $51.00 target price on shares of Suncor Energy in a report on Thursday, October 26th. Morgan Stanley lifted their target price on Suncor Energy from $48.00 to $52.00 and gave the stock an overweight rating in a report on Friday, October 13th. Zacks Investment Research raised Suncor Energy from a hold rating to a buy rating and set a $39.00 target price on the stock in a report on Wednesday, October 11th. Wolfe Research upgraded Suncor Energy from a market perform rating to an outperform rating in a research report on Monday, October 16th. Finally, AltaCorp Capital lowered Suncor Energy from an outperform rating to a sector perform rating in a research report on Friday, July 28th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $43.14.

Shares of Suncor Energy (NYSE:SU) traded down $0.56 on Monday, reaching $34.04. The company had a trading volume of 2,934,750 shares, compared to its average volume of 3,239,921. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.91 and a quick ratio of 0.62. The company has a market capitalization of $57,009.86, a PE ratio of 29.70, a PEG ratio of 3.21 and a beta of 0.85. Suncor Energy has a 52-week low of $27.96 and a 52-week high of $36.71.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings results on Wednesday, October 25th. The oil and gas producer reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.15. The company had revenue of $6.40 billion for the quarter, compared to analyst estimates of $6.80 billion. Suncor Energy had a return on equity of 5.68% and a net margin of 11.63%. sell-side analysts predict that Suncor Energy will post 1.26 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 22nd. Shareholders of record on Friday, December 1st will be given a $0.251 dividend. This is an increase from Suncor Energy’s previous quarterly dividend of $0.19. This represents a $1.00 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend is Thursday, November 30th. Suncor Energy’s payout ratio is currently 60.84%.

Hedge funds and other institutional investors have recently modified their holdings of the business. First Personal Financial Services increased its position in Suncor Energy by 144.1% in the 2nd quarter. First Personal Financial Services now owns 3,845 shares of the oil and gas producer’s stock worth $112,000 after buying an additional 2,270 shares during the period. Forward Management LLC bought a new stake in shares of Suncor Energy during the third quarter valued at approximately $154,000. UBS Asset Management Americas Inc. increased its position in shares of Suncor Energy by 13.7% during the second quarter. UBS Asset Management Americas Inc. now owns 4,658 shares of the oil and gas producer’s stock valued at $136,000 after purchasing an additional 562 shares during the period. Quadrant Capital Group LLC increased its position in shares of Suncor Energy by 90.8% during the second quarter. Quadrant Capital Group LLC now owns 4,725 shares of the oil and gas producer’s stock valued at $124,000 after purchasing an additional 2,248 shares during the period. Finally, Howland Capital Management LLC bought a new stake in shares of Suncor Energy during the third quarter valued at approximately $201,000. 65.61% of the stock is currently owned by institutional investors.

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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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