Suncor Energy (NYSE:SU) Sees Strong Trading Volume - What's Next?

Suncor Energy Inc. (NYSE:SU - Get Free Report) TSE: SU shares saw unusually-strong trading volume on Monday . Approximately 9,377,237 shares changed hands during mid-day trading, an increase of 110% from the previous session's volume of 4,461,198 shares.The stock last traded at $36.31 and had previously closed at $35.55.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on SU shares. Tudor, Pickering, Holt & Co. upgraded shares of Suncor Energy from a "hold" rating to a "buy" rating in a report on Monday, February 10th. Cibc World Mkts upgraded shares of Suncor Energy from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 11th. Bank of America started coverage on shares of Suncor Energy in a report on Wednesday, February 26th. They issued a "neutral" rating on the stock. Scotiabank upgraded shares of Suncor Energy to a "hold" rating in a report on Wednesday, March 19th. Finally, Tudor Pickering upgraded shares of Suncor Energy from a "hold" rating to a "strong-buy" rating in a report on Monday, February 10th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Suncor Energy currently has a consensus rating of "Moderate Buy" and a consensus target price of $64.67.

Suncor Energy Price Performance

The company's 50-day moving average price is $35.24 and its two-hundred day moving average price is $37.06. The company has a market cap of $44.80 billion, a P/E ratio of 10.53, a P/E/G ratio of 2.94 and a beta of 0.79. The company has a current ratio of 1.33, a quick ratio of 0.86 and a debt-to-equity ratio of 0.21.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last released its earnings results on Tuesday, May 6th. The oil and gas producer reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.05. Suncor Energy had a net margin of 11.80% and a return on equity of 15.37%. The company had revenue of $9.10 billion during the quarter, compared to the consensus estimate of $13.39 billion. During the same quarter in the previous year, the firm earned $1.41 EPS. As a group, sell-side analysts expect that Suncor Energy Inc. will post 3.42 earnings per share for the current year.

Suncor Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Wednesday, June 4th will be given a dividend of $0.4133 per share. This represents a $1.65 dividend on an annualized basis and a dividend yield of 4.55%. The ex-dividend date of this dividend is Wednesday, June 4th. This is an increase from Suncor Energy's previous quarterly dividend of $0.40. Suncor Energy's dividend payout ratio is currently 45.53%.

Institutional Investors Weigh In On Suncor Energy

Institutional investors have recently modified their holdings of the business. HHM Wealth Advisors LLC grew its position in shares of Suncor Energy by 62.1% during the 4th quarter. HHM Wealth Advisors LLC now owns 848 shares of the oil and gas producer's stock valued at $30,000 after buying an additional 325 shares during the last quarter. Hanson & Doremus Investment Management grew its position in shares of Suncor Energy by 143.5% during the 1st quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer's stock valued at $31,000 after buying an additional 465 shares during the last quarter. Salem Investment Counselors Inc. grew its position in shares of Suncor Energy by 97.6% during the 1st quarter. Salem Investment Counselors Inc. now owns 820 shares of the oil and gas producer's stock valued at $32,000 after buying an additional 405 shares during the last quarter. Crowley Wealth Management Inc. bought a new stake in shares of Suncor Energy during the 4th quarter valued at about $35,000. Finally, Lee Danner & Bass Inc. bought a new position in Suncor Energy in the 4th quarter worth about $36,000. 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.