Suncor Energy (TSE:SU) Price Target Raised to C$61.00

Suncor Energy (TSE:SU) (NYSE:SU) had its target price lifted by Scotiabank from C$54.00 to C$61.00 in a report issued on Wednesday morning, BayStreet.CA reports. The firm currently has a sector perform rating on the stock.

Several other brokerages have also recently commented on SU. TD Securities increased their target price on Suncor Energy from C$52.00 to C$57.00 and gave the stock a hold rating in a report on Wednesday. BMO Capital Markets increased their target price on Suncor Energy from C$60.00 to C$62.00 and gave the stock a market perform rating in a report on Wednesday. CIBC increased their target price on Suncor Energy from C$60.00 to C$65.00 and gave the stock an outperform rating in a report on Monday, April 22nd. Desjardins increased their target price on Suncor Energy from C$48.50 to C$54.00 and gave the stock a hold rating in a report on Tuesday, April 23rd. Finally, Jefferies Financial Group raised their price target on Suncor Energy from C$54.00 to C$62.00 and gave the company a hold rating in a report on Wednesday. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Suncor Energy currently has a consensus rating of Hold and an average price target of C$62.42.

Suncor Energy Stock Performance

Shares of TSE:SU opened at C$55.06 on Wednesday. The business’s fifty day moving average price is C$52.51 and its two-hundred day moving average price is C$47.07. Suncor Energy has a fifty-two week low of C$37.09 and a fifty-two week high of C$56.69. The stock has a market capitalization of C$70.48 billion, a price-to-earnings ratio of 9.12, a price-to-earnings-growth ratio of 0.15 and a beta of 1.50. The company has a debt-to-equity ratio of 36.00, a current ratio of 1.51 and a quick ratio of 0.83.

Suncor Energy (TSE:SU) (NYSE:SU) last announced its quarterly earnings results on Wednesday, February 21st. The company reported C$1.26 earnings per share for the quarter, beating analysts’ consensus estimates of C$1.05 by C$0.21. The firm had revenue of C$14.14 billion for the quarter, compared to analysts’ expectations of C$11.33 billion. Suncor Energy had a return on equity of 18.64% and a net margin of 15.85%. As a group, analysts predict that Suncor Energy will post 4.9972527 EPS for the current fiscal year.

Suncor Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Tuesday, June 4th will be issued a dividend of $0.545 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $2.18 dividend on an annualized basis and a dividend yield of 3.96%. Suncor Energy’s dividend payout ratio (DPR) is currently 36.09%.

Insider Transactions at Suncor Energy

In related news, Senior Officer Shelley Powell sold 16,400 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of C$45.84, for a total transaction of C$751,776.00. 0.01% of the stock is owned by insiders.

About Suncor Energy

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.