Desjardins Issues Pessimistic Forecast for Suncor Energy (TSE:SU) Stock Price

Suncor Energy (TSE:SU) (NYSE:SU) had its price target cut by Desjardins from C$68.50 to C$65.00 in a research note published on Wednesday,BayStreet.CA reports. They currently have a buy rating on the stock.

Other equities research analysts have also issued reports about the company. Wells Fargo & Company decreased their target price on Suncor Energy from C$66.00 to C$64.00 in a research report on Monday, December 9th. Royal Bank of Canada decreased their target price on Suncor Energy from C$66.00 to C$65.00 in a research report on Tuesday, January 14th. JPMorgan Chase & Co. lifted their target price on Suncor Energy from C$59.00 to C$61.00 in a research report on Friday, December 13th. Raymond James lifted their target price on Suncor Energy from C$57.00 to C$58.00 and gave the company a “market perform” rating in a research report on Friday, February 7th. Finally, Tudor Pickering raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 10th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of C$62.96.

Suncor Energy Price Performance

SU opened at C$53.72 on Wednesday. The business has a fifty day moving average of C$54.86 and a 200 day moving average of C$53.76. Suncor Energy has a 52-week low of C$48.41 and a 52-week high of C$58.58. The company has a quick ratio of 0.83, a current ratio of 1.59 and a debt-to-equity ratio of 33.35. The stock has a market cap of C$67.38 billion, a P/E ratio of 8.48, a PEG ratio of 0.15 and a beta of 1.47.

Suncor Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 25th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $2.28 annualized dividend and a dividend yield of 4.24%. Suncor Energy’s dividend payout ratio is currently 34.42%.

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.