Analysts Set Suncor Energy Inc. (TSE:SU) Target Price at C$61.89

Shares of Suncor Energy Inc. (TSE:SU) (NYSE:SU) have received an average rating of “Moderate Buy” from the twelve ratings firms that are presently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is C$61.89.

Several research firms have recently commented on SU. Desjardins upgraded shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a research report on Thursday, November 14th. Scotiabank upped their target price on shares of Suncor Energy from C$59.00 to C$62.00 in a research report on Wednesday, November 13th. Gerdes Energy Research set a C$69.00 price target on Suncor Energy and gave the company a “buy” rating in a report on Monday, November 25th. Raymond James decreased their price objective on Suncor Energy from C$56.00 to C$55.00 in a report on Friday, December 13th. Finally, National Bankshares cut their target price on Suncor Energy from C$76.00 to C$65.00 and set an “outperform” rating on the stock in a research note on Thursday, December 19th.

Suncor Energy Stock Up 1.4 %

TSE:SU opened at C$52.64 on Friday. The firm has a market capitalization of C$66.85 billion, a PE ratio of 9.04, a price-to-earnings-growth ratio of 0.15 and a beta of 1.47. Suncor Energy has a 52 week low of C$41.88 and a 52 week high of C$58.28. 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 stock has a 50 day moving average of C$53.64 and a 200-day moving average of C$53.04.

Suncor Energy Increases Dividend

The firm 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 is an increase from Suncor Energy’s previous quarterly dividend of $0.55. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date of this dividend was Tuesday, December 3rd. Suncor Energy’s payout ratio is presently 37.46%.

Insiders Place Their Bets

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

About Suncor Energy

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.