Morgan Stanley Downgrades Suncor Energy Stock Rating

Suncor Energy (NYSE:SU) experienced a notable shift in its stock rating as Morgan Stanley, a leading investment bank, downgraded the company from an "overweight" to an "equal weight" rating in a research note released to investors on Monday.

In addition to Morgan Stanley's recent adjustment, several other financial institutions have also provided updates on Suncor Energy's stock. Desjardins made headlines by upgrading Suncor from a "hold" to a "buy" rating this past Thursday, November 14th. StockNews.com followed suit, raising Suncor’s rating from "hold" to "buy" on November 19th. Overall, the stock has garnered interest with three analysts issuing a hold rating while six analysts have marked it with a buy rating. According to data compiled by MarketBeat.com, the consensus rating for Suncor Energy stands at "Moderate Buy" with an average target price of $56.40.

Recent Stock Performance

As of Monday, shares of Suncor Energy opened at $36.78, marking a 1.1% decrease in trading. An overview of the company’s financial ratios reveals a debt-to-equity ratio of 0.24, a current ratio of 1.59, and a quick ratio of 1.04. The stock's moving averages include a 50-day average of $39.16 and a 200-day average of $38.72. Over the past year, Suncor Energy has seen its stock price fluctuate between a low of $30.89 and a high of $41.94. The company boasts a market cap of $46.28 billion, and its price-to-earnings (P/E) ratio is reported at 8.01, while the P/E growth (P/E/G) ratio is 2.43, indicating some growth expectations.

Investor Activities

Institutional investors have also been active regarding their holdings in Suncor Energy. For instance, Franklin Resources Inc. increased its stake by 0.8% during the third quarter, bringing its total shares to 3,619,354, valued at around $146.95 million after acquiring an additional 29,014 shares. Similarly, Peapack Gladstone Financial Corp has entered the fold with a new position worth approximately $206,000. Other investors such as Synovus Financial Corp and Tidal Investments LLC also adjusted their stakes, with increases of 11.7% and 59.6%, respectively. Currently, institutional investors hold approximately 67.37% of Suncor Energy's stock.

Overview of Suncor Energy

Suncor Energy Inc. operates as an integrated energy producer in Canada, the United States, and internationally. The company manages its operations through different segments: Oil Sands, Exploration and Production, and Refining and Marketing. Within the Oil Sands segment, Suncor focuses on exploring, developing, and producing bitumen, synthetic crude oil, and related products.

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