Suncor Energy (TSE:SU) Price Target Raised to C$58.00

Suncor Energy (TSE:SU) (NYSE:SU) had its price objective raised by Jefferies Financial Group from C$54.00 to C$58.00 in a research note released on Tuesday morning,BayStreet.CA reports.

A number of other brokerages have also issued reports on SU. Wells Fargo & Company decreased their price objective on Suncor Energy from C$66.00 to C$64.00 in a report on Monday, December 9th. Scotiabank lifted their price objective on shares of Suncor Energy from C$59.00 to C$62.00 in a research note on Wednesday, November 13th. JPMorgan Chase & Co. increased their target price on shares of Suncor Energy from C$59.00 to C$61.00 in a research report on Friday, December 13th. Raymond James dropped their price target on shares of Suncor Energy from C$56.00 to C$55.00 in a research report on Friday, December 13th. Finally, Desjardins upgraded shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a report on Thursday, November 14th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$62.11.

Suncor Energy Price Performance

Shares of TSE SU opened at C$57.10 on Tuesday. Suncor Energy has a 1-year low of C$41.88 and a 1-year high of C$58.58. The firm has a market capitalization of C$72.52 billion, a PE ratio of 9.81, a P/E/G ratio of 0.15 and a beta of 1.47. The company has a debt-to-equity ratio of 34.98, a current ratio of 1.46 and a quick ratio of 0.83. The business’s fifty day moving average price is C$54.19 and its two-hundred day moving average price is C$53.44.

Suncor Energy (TSE:SU) (NYSE:SU) last issued its quarterly earnings data on Tuesday, November 12th. The company reported C$1.48 earnings per share for the quarter, beating the consensus estimate of C$1.10 by C$0.38. Suncor Energy had a net margin of 14.87% and a return on equity of 17.68%. During the same period in the prior year, the firm posted $1.52 EPS. On average, research analysts expect that Suncor Energy will post 4.4208333 EPS for the current year.

Suncor Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 24th. Investors of record on Tuesday, December 24th were issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.99%. This is a boost from Suncor Energy’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Tuesday, December 3rd. Suncor Energy’s payout ratio is presently 37.46%.

Insider Transactions at Suncor Energy

In other news, Senior Officer Kristopher Peter Smith sold 105,000 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of C$57.10, for a total value of C$5,995,185.00. Also, Senior Officer Shelley Powell sold 50,000 shares of Suncor Energy stock in a transaction on Thursday, November 14th. The shares were sold at an average price of C$56.87, for a total value of C$2,843,700.00. 0.01% of the stock is owned by insiders.

Suncor Energy Company Profile

Suncor Energy Inc is an integrated energy company. The company’s operations include oil sands development, production and upgrading, offshore oil and gas, petroleum refining in Canada and the U.S. and the company’s PetroCanada retail and wholesale distribution networks. The company is developing petroleum resources while advancing the transition to a low-emissions future through investment in power, renewable fuels and hydrogen.