Suncor Energy (NYSE:SU) Cut to "Equal Weight" at Morgan Stanley

Morgan Stanley lowered shares of Suncor Energy (NYSE:SU - Free Report) TSE: SU from an overweight rating to an equal weight rating in a research report sent to investors on Monday, MarketBeat reports.

Several other equities research analysts have also recently weighed in on the company. StockNews.com upgraded Suncor Energy from a "hold" rating to a "buy" rating in a research note on Tuesday, November 19th. Desjardins upgraded shares of Suncor Energy from a "hold" rating to a "buy" rating in a report on Thursday, November 14th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $56.40.

Suncor Energy Stock Down 1.5 %

NYSE:SU traded down $0.55 during mid-day trading on Monday, hitting $36.23. The stock had a trading volume of 6,092,070 shares, compared to its average volume of 4,328,576. Suncor Energy has a twelve month low of $31.03 and a twelve month high of $41.94. The stock has a 50-day simple moving average of $39.16 and a two-hundred day simple moving average of $38.72. The company has a current ratio of 1.59, a quick ratio of 1.04 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $45.58 billion, a PE ratio of 7.88, a PEG ratio of 2.43 and a beta of 1.11.

Suncor Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd will be issued a $0.4089 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 4.51%. This is an increase from Suncor Energy's previous quarterly dividend of $0.40. Suncor Energy's dividend payout ratio (DPR) is 36.60%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cullen Investment Group LTD. grew its holdings in Suncor Energy by 0.8% in the third quarter. Cullen Investment Group LTD. now owns 33,106 shares of the oil and gas producer's stock valued at $1,222,000 after purchasing an additional 262 shares during the last quarter. First Horizon Advisors Inc. boosted its position in shares of Suncor Energy by 6.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 4,879 shares of the oil and gas producer's stock worth $186,000 after buying an additional 281 shares in the last quarter. Blue Trust Inc. grew its stake in Suncor Energy by 11.0% in the 2nd quarter. Blue Trust Inc. now owns 3,278 shares of the oil and gas producer's stock valued at $121,000 after acquiring an additional 325 shares during the last quarter. Richardson Financial Services Inc. increased its holdings in Suncor Energy by 82.8% during the 2nd quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer's stock valued at $28,000 after acquiring an additional 328 shares in the last quarter. Finally, Coldstream Capital Management Inc. lifted its holdings in shares of Suncor Energy by 5.0% in the third quarter. Coldstream Capital Management Inc. now owns 7,486 shares of the oil and gas producer's stock valued at $276,000 after purchasing an additional 354 shares in the last quarter. 67.37% of the stock is currently owned by institutional investors and hedge funds.

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.