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

Suncor Energy (TSE:SUFree Report) (NYSE:SU) had its price objective boosted by Royal Bank of Canada from C$52.00 to C$58.00 in a research note released on Tuesday morning, BayStreet.CA reports.

Several other brokerages have also recently issued reports on SU. BMO Capital Markets raised their price objective on Suncor Energy from C$52.00 to C$55.00 in a research note on Thursday, March 28th. CIBC raised their target price on Suncor Energy from C$58.00 to C$60.00 and gave the stock an outperform rating in a report on Friday, March 22nd. Wells Fargo & Company dropped their target price on Suncor Energy from C$59.00 to C$55.00 in a report on Thursday, December 14th. Jefferies Financial Group raised their target price on Suncor Energy from C$47.00 to C$50.00 and gave the stock a hold rating in a report on Monday, March 4th. Finally, TD Securities raised their target price on Suncor Energy from C$46.00 to C$48.00 and gave the stock a hold rating in a report on Thursday, February 22nd. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of C$55.04.

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Suncor Energy Trading Down 1.0 %

Shares of TSE SU opened at C$51.92 on Tuesday. The company has a debt-to-equity ratio of 36.52, a current ratio of 1.44 and a quick ratio of 0.83. The stock has a market capitalization of C$66.98 billion, a P/E ratio of 8.20, a price-to-earnings-growth ratio of 0.15 and a beta of 1.52. Suncor Energy has a 1-year low of C$37.09 and a 1-year high of C$53.78. The business has a fifty day moving average price of C$47.63 and a 200 day moving average price of C$45.46.

Suncor Energy (TSE:SUGet Free Report) (NYSE:SU) last released its quarterly earnings results on Wednesday, February 21st. The company reported C$1.26 EPS for the quarter, beating analysts’ consensus estimates of C$1.05 by C$0.21. Suncor Energy had a return on equity of 20.07% and a net margin of 16.90%. The company had revenue of C$14.14 billion during the quarter, compared to analysts’ expectations of C$11.33 billion. Equities research analysts expect that Suncor Energy will post 4.793291 EPS for the current fiscal year.

Suncor Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Monday, March 4th were given a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date was Friday, March 1st. Suncor Energy’s payout ratio is 34.44%.

Insider Activity at Suncor Energy

In related news, Senior Officer Jacqueline Sue Moore sold 12,000 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of C$45.83, for a total value of C$549,960.00. In other Suncor Energy news, Senior Officer Shelley Powell sold 16,400 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of C$45.84, for a total value of C$751,776.00. Also, Senior Officer Jacqueline Sue Moore sold 12,000 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of C$45.83, for a total transaction of C$549,960.00. 0.01% of the stock is owned by corporate insiders.

Suncor Energy Company Profile

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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.

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Analyst Recommendations for Suncor Energy (TSE:SU)

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