Bank of America Begins Coverage on Suncor Energy (NYSE:SU)

Bank of America began coverage on shares of Suncor Energy (NYSE:SU - Free Report) TSE: SU in a research report report published on Wednesday. The firm issued a neutral rating on the oil and gas producer's stock.

Other equities research analysts have also issued research reports about the company. StockNews.com lowered Suncor Energy from a "buy" rating to a "hold" rating in a research report on Tuesday. Morgan Stanley lowered Suncor Energy from an "overweight" rating to an "equal weight" rating in a research report on Monday, December 16th. Tudor Pickering upgraded Suncor Energy from a "hold" rating to a "strong-buy" rating in a research report on Monday, February 10th. Cibc World Mkts upgraded Suncor Energy from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, February 11th. Finally, Desjardins upgraded Suncor Energy from a "hold" rating to a "buy" rating in a research report on Thursday, November 14th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $58.00.

Suncor Energy Stock Up 0.2 %

SU traded up $0.08 on Wednesday, hitting $38.28. The company had a trading volume of 3,809,095 shares, compared to its average volume of 4,401,910. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.86 and a current ratio of 1.33. The stock has a market capitalization of $47.64 billion, a price-to-earnings ratio of 11.10, a P/E/G ratio of 2.94 and a beta of 1.12. The stock has a fifty day moving average price of $38.28 and a 200-day moving average price of $38.64. Suncor Energy has a 12-month low of $33.79 and a 12-month high of $41.94.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last issued its quarterly earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.07. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. Analysts predict that Suncor Energy will post 3.42 EPS for the current fiscal year.

Suncor Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 4th will be given a dividend of $0.399 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.17%. Suncor Energy's dividend payout ratio (DPR) is 45.22%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Private Advisor Group LLC lifted its holdings in Suncor Energy by 5.0% in the 3rd quarter. Private Advisor Group LLC now owns 33,566 shares of the oil and gas producer's stock valued at $1,239,000 after purchasing an additional 1,604 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Suncor Energy in the 3rd quarter valued at $2,701,000. Wealth Enhancement Advisory Services LLC lifted its holdings in Suncor Energy by 63.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 112,604 shares of the oil and gas producer's stock valued at $4,157,000 after purchasing an additional 43,869 shares in the last quarter. First Trust Direct Indexing L.P. lifted its holdings in Suncor Energy by 32.1% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 11,609 shares of the oil and gas producer's stock valued at $429,000 after purchasing an additional 2,819 shares in the last quarter. Finally, Pinnacle Associates Ltd. increased its stake in shares of Suncor Energy by 6.8% in the 3rd quarter. Pinnacle Associates Ltd. now owns 47,519 shares of the oil and gas producer's stock worth $1,754,000 after acquiring an additional 3,026 shares during the last quarter. Hedge funds and other institutional investors own 67.37% of the company's stock.

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.