Morgan Stanley Downgrades Suncor Energy Stock Rating

Suncor Energy (NYSE:SU) has recently experienced a change in stock rating. Morgan Stanley downgraded the company's rating from "overweight" to "equal weight" in a research note that was sent to investors on Monday.

This downgrade follows a series of assessments from other research firms regarding Suncor Energy's performance. For instance, on November 14th, Desjardins upgraded Suncor from a "hold" rating to a "buy" rating. Additionally, StockNews.com also raised its rating from "hold" to "buy" on November 19th. As per the current data from MarketBeat.com, the consensus rating for Suncor Energy is considered a "Moderate Buy," with an average target price set at $56.40.

Suncor Energy Stock Overview

As of Monday, shares of Suncor Energy opened at $36.78, reflecting a slight decline of 1.1%. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59, and a quick ratio of 1.04. Over the past year, Suncor has seen its stock fluctuate with a low of $30.89 and a high of $41.94. The company's market capitalization stands at approximately $46.28 billion, with a P/E ratio of 8.01.

Investor Activity and Institutional Holdings

Recent movements among institutional investors indicate a degree of interest in Suncor Energy. Notably, Franklin Resources Inc. increased its shares in Suncor by 0.8% during the third quarter, now holding 3,619,354 shares valued at about $146.9 million. Meanwhile, Synovus Financial Corp raised its stake by 11.7%, now owning 81,371 shares valued at around $3 million.

Institutional investors collectively hold 67.37% of Suncor Energy’s stock, suggesting strong institutional confidence in its long-term potential despite the recent rating downgrade.

About Suncor Energy

Suncor Energy Inc operates as an integrated energy company, focusing on oil sands, exploration, production, refining, and marketing. The company primarily operates in Canada and the United States, along with international engagements. The Oil Sands segment is particularly important to its operations as it explores, develops, and produces bitumen and synthetic crude oil along with other related products.

Suncor, Energy, Stock