Suncor Energy’s (SU) “Hold (C+)” Rating Reiterated at Weiss Ratings

Weiss Ratings reissued their hold (c+) rating on shares of Suncor Energy (NYSE:SU) (TSE:SU) in a report released on Friday,Weiss Ratings reports.

A number of other equities research analysts also recently commented on the stock. Wells Fargo & Company initiated coverage on shares of Suncor Energy in a research report on Friday, October 17th. They issued an “equal weight” rating for the company. Zacks Research downgraded Suncor Energy from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 15th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $65.00 price objective on shares of Suncor Energy in a report on Friday, October 3rd. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $65.00.

Suncor Energy Price Performance

Shares of NYSE:SU opened at $39.80 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.77 and a current ratio of 1.26. The firm has a market cap of $48.12 billion, a price-to-earnings ratio of 12.25, a price-to-earnings-growth ratio of 3.51 and a beta of 0.78. The business has a 50-day simple moving average of $40.71 and a two-hundred day simple moving average of $38.49. Suncor Energy has a fifty-two week low of $30.79 and a fifty-two week high of $43.48.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings results on Tuesday, August 5th. The oil and gas producer reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.01. Suncor Energy had a net margin of 11.35% and a return on equity of 13.21%. The firm had revenue of $8.81 billion for the quarter, compared to the consensus estimate of $11.56 billion. During the same quarter last year, the firm posted $1.27 EPS. On average, analysts expect that Suncor Energy will post 3.42 earnings per share for the current year.

Suncor Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th were given a dividend of $0.4135 per share. This represents a $1.65 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend was Thursday, September 4th. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.41. Suncor Energy’s payout ratio is presently 51.08%.

Hedge Funds Weigh In On Suncor Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Suncor Energy by 3.1% during the second quarter. Vanguard Group Inc. now owns 54,631,516 shares of the oil and gas producer’s stock valued at $2,046,442,000 after purchasing an additional 1,632,247 shares during the period. Artisan Partners Limited Partnership lifted its position in shares of Suncor Energy by 38.5% during the 2nd quarter. Artisan Partners Limited Partnership now owns 33,722,975 shares of the oil and gas producer’s stock valued at $1,264,043,000 after buying an additional 9,378,552 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Suncor Energy by 3.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,911,602 shares of the oil and gas producer’s stock valued at $779,788,000 after acquiring an additional 641,354 shares during the period. Principal Financial Group Inc. increased its holdings in Suncor Energy by 65.0% in the 1st quarter. Principal Financial Group Inc. now owns 16,018,129 shares of the oil and gas producer’s stock worth $620,136,000 after acquiring an additional 6,311,513 shares in the last quarter. Finally, Mackenzie Financial Corp raised its stake in Suncor Energy by 18.6% during the 1st quarter. Mackenzie Financial Corp now owns 15,377,546 shares of the oil and gas producer’s stock worth $595,398,000 after acquiring an additional 2,410,857 shares during the period. 67.37% of the stock is currently owned by hedge funds and other 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.