Several other equities research analysts have also commented on SU. Desjardins lowered Suncor Energy from a buy rating to a hold rating and boosted their price target for the stock from C$48.00 to C$49.00 in a research note on Monday, September 18th. National Bankshares boosted their price target on Suncor Energy from C$57.00 to C$74.00 and gave the company an outperform rating in a report on Thursday, October 12th. UBS Group upped their target price on Suncor Energy from C$52.50 to C$55.00 in a research note on Friday, October 20th. Scotiabank boosted their target price on shares of Suncor Energy from C$44.00 to C$47.00 and gave the company a sector perform rating in a report on Monday, October 16th. Finally, BMO Capital Markets boosted their price objective on shares of Suncor Energy from C$44.00 to C$51.00 in a research note on Monday, October 16th. Eight equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Hold and an average target price of C$55.78.
Suncor Energy Stock Down 2.3 %
Suncor Energy (TSE:SU – Get Free Report) (NYSE:SU) last announced its earnings results on Monday, August 14th. The company reported C$0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.78 by C$0.18. Suncor Energy had a return on equity of 20.56% and a net margin of 16.37%. The firm had revenue of C$11.72 billion during the quarter, compared to analysts’ expectations of C$10.49 billion. As a group, equities research analysts predict that Suncor Energy will post 6.2878378 earnings per share for the current fiscal year.
Suncor Energy Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 22nd. Shareholders of record on Friday, December 1st will be issued a $0.545 dividend. The ex-dividend date is Thursday, November 30th. This represents a $2.18 dividend on an annualized basis and a yield of 4.89%. This is an increase from Suncor Energy’s previous quarterly dividend of $0.52. Suncor Energy’s payout ratio is currently 33.60%.
About Suncor Energy
Suncor Energy Inc operates as an integrated energy company in Canada 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. This segment also engages in syncrude oil sands mining and upgrading operations; and marketing, supply, transportation, and risk management of crude oil, natural gas, power, and byproducts.
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