Suncor Energy (TSE:SU) Stock Price Expected to Rise, Raymond James Analyst Says

Suncor Energy (TSE:SU) (NYSE:SU) had its target price lifted by Raymond James from C$57.00 to C$58.00 in a research note released on Friday,BayStreet.CA reports. They currently have a market perform rating on the stock. Raymond James also issued estimates for Suncor Energy’s FY2029 earnings at $5.03 EPS.

A number of other research analysts also recently commented on the company. Gerdes Energy Research set a C$69.00 target price on Suncor Energy and gave the company a “buy” rating in a research note on Monday, November 25th. Scotiabank boosted their price target on Suncor Energy from C$59.00 to C$62.00 in a research report on Wednesday, November 13th. Jefferies Financial Group lifted their price target on shares of Suncor Energy from C$54.00 to C$58.00 in a research report on Thursday, January 30th. Desjardins upgraded Suncor Energy from a “hold” rating to a “moderate buy” rating in a research note on Thursday, November 14th. Finally, National Bankshares raised their price target on shares of Suncor Energy from C$65.00 to C$68.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$62.54.

Suncor Energy Trading Up 0.6 %

Shares of TSE SU opened at C$55.34 on Friday. The stock has a market capitalization of C$70.28 billion, a P/E ratio of 9.51, a PEG ratio of 0.15 and a beta of 1.47. The stock’s 50 day moving average price is C$53.97 and its two-hundred day moving average price is C$53.75. The company has a quick ratio of 0.83, a current ratio of 1.46 and a debt-to-equity ratio of 34.98. Suncor Energy has a 52-week low of C$42.43 and a 52-week high of C$58.58.

Suncor Energy (TSE:SU) (NYSE:SU) last issued its quarterly earnings results on Tuesday, November 12th. The company reported C$1.48 earnings per share for the quarter, topping analysts’ consensus estimates of C$1.10 by C$0.38. Suncor Energy had a net margin of 14.87% and a return on equity of 17.68%. During the same period last year, the company posted $1.52 earnings per share. On average, analysts anticipate that Suncor Energy will post 4.4208333 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 24th were paid a $0.57 dividend. The ex-dividend date of this dividend was Tuesday, December 3rd. This is a boost 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 4.12%. Suncor Energy’s dividend payout ratio is 37.46%.

Insider Buying and Selling at Suncor Energy

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

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.