Suncor Energy (TSE:SU) Price Target Raised to C$61.00

Suncor Energy (TSE:SU) (NYSE:SU) had its target price upped by JPMorgan Chase & Co. from C$59.00 to C$61.00 in a research note issued to investors on Friday morning,BayStreet.CA reports.

Several other brokerages also recently weighed in on SU. UBS Group boosted their price objective on Suncor Energy from C$61.00 to C$65.00 in a research report on Monday, November 18th. Desjardins upgraded Suncor Energy from a “hold” rating to a “moderate buy” rating in a research note on Thursday, November 14th. Raymond James cut their price target on shares of Suncor Energy from C$56.00 to C$55.00 in a report on Friday. Scotiabank lifted their price objective on Suncor Energy from C$59.00 to C$62.00 in a report on Wednesday, November 13th. Finally, National Bankshares lifted their target price on shares of Suncor Energy from C$73.00 to C$76.00 in a research report on Thursday, November 14th. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$62.75.

Suncor Energy Stock Down 1.0 %

Shares of TSE SU opened at C$52.37 on Friday. The company has a current ratio of 1.46, a quick ratio of 0.83 and a debt-to-equity ratio of 34.98. The business has a 50-day moving average of C$54.62 and a 200-day moving average of C$53.33. Suncor Energy has a 12 month low of C$41.30 and a 12 month high of C$58.28. The firm has a market capitalization of C$66.51 billion, a price-to-earnings ratio of 9.00, a PEG ratio of 0.15 and a beta of 1.47.

Suncor Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 24th will be paid a $0.57 dividend. This is an increase from Suncor Energy’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $2.28 dividend on an annualized basis and a yield of 4.35%. Suncor Energy’s payout ratio is presently 37.46%.

Insider Activity

In other news, Senior Officer Shelley Powell sold 50,000 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of C$56.87, for a total value of C$2,843,700.00. Also, Senior Officer Kristopher Peter Smith sold 105,000 shares of Suncor Energy 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. Corporate insiders own 0.01% of the company’s stock.

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.