Suncor Energy (TSE:SU) Upgraded at Scotiabank

Scotiabank upgraded shares of Suncor Energy (TSE:SU) (NYSE:SU) to a hold rating in a research note released on Wednesday,Zacks.com reports.

A number of other brokerages also recently issued reports on SU. Desjardins decreased their price target on Suncor Energy from C$68.50 to C$65.00 and set a “buy” rating for the company in a report on Wednesday. Jefferies Financial Group boosted their target price on Suncor Energy from C$58.00 to C$59.00 in a report on Monday, February 24th. Raymond James boosted their target price on Suncor Energy from C$57.00 to C$58.00 and gave the company a “market perform” rating in a report on Friday, February 7th. Royal Bank of Canada reduced their target price on Suncor Energy from C$66.00 to C$65.00 in a report on Tuesday, January 14th. Finally, TD Securities reduced their target price on Suncor Energy from C$63.00 to C$61.00 and set a “buy” rating for the company in a report on Thursday. Four 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of C$62.96.

Suncor Energy Stock Down 0.5 %

Shares of TSE SU opened at C$53.72 on Wednesday. The company has a market capitalization of C$67.38 billion, a price-to-earnings ratio of 8.48, a price-to-earnings-growth ratio of 0.15 and a beta of 1.47. The company has a debt-to-equity ratio of 33.35, a current ratio of 1.59 and a quick ratio of 0.83. The business has a 50-day moving average of C$54.86 and a two-hundred day moving average of C$53.76. Suncor Energy has a 1 year low of C$48.41 and a 1 year high of C$58.58.

Suncor Energy Dividend Announcement

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