Brokerages Set Suncor Energy Inc. (TSE:SU) PT at C$65.77

Suncor Energy Inc. (TSE:SU) (NYSE:SU) has been assigned a consensus recommendation of “Moderate Buy” from the eleven research firms that are currently covering the company, Marketbeat reports. Five analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is C$65.77.

SU has been the subject of several research analyst reports. Desjardins upped their price objective on shares of Suncor Energy from C$73.00 to C$74.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Royal Bank Of Canada upped their target price on Suncor Energy from C$62.00 to C$67.00 and gave the company an “outperform” rating in a research report on Tuesday, October 7th. TD Securities raised their price target on Suncor Energy from C$71.00 to C$73.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. UBS Group boosted their price objective on Suncor Energy from C$61.00 to C$65.00 in a research note on Wednesday, November 5th. Finally, Gerdes Energy Research increased their price objective on Suncor Energy from C$75.00 to C$78.00 in a report on Monday, November 10th.

Suncor Energy Stock Down 3.3%

SU stock opened at C$58.06 on Friday. The stock has a market cap of C$69.75 billion, a P/E ratio of 13.53, a PEG ratio of 0.15 and a beta of 0.75. The company has a current ratio of 1.59, a quick ratio of 0.83 and a debt-to-equity ratio of 33.35. Suncor Energy has a twelve month low of C$43.59 and a twelve month high of C$64.14. The company’s 50 day moving average is C$59.00 and its two-hundred day moving average is C$56.25.

Suncor Energy (TSE:SU) (NYSE:SU) last issued its earnings results on Tuesday, November 4th. The company reported C$1.48 earnings per share (EPS) for the quarter. Suncor Energy had a net margin of 15.15% and a return on equity of 18.10%. The business had revenue of C$12.55 billion during the quarter. Research analysts expect that Suncor Energy will post 4.4208333 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 24th. Investors of record on Wednesday, December 24th will be paid a dividend of $0.60 per share. The ex-dividend date is Wednesday, December 3rd. This represents a $2.40 dividend on an annualized basis and a yield of 4.1%. This is an increase from Suncor Energy’s previous quarterly dividend of $0.57. Suncor Energy’s dividend payout ratio (DPR) is currently 53.15%.

Insiders Place Their Bets

In other Suncor Energy news, insider Kristopher Peter Smith sold 112,600 shares of Suncor Energy stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of C$61.74, for a total value of C$6,951,924.00. Following the transaction, the insider directly owned 48,482 shares in the company, valued at approximately C$2,993,278.68. The trade was a 69.90% decrease in their ownership of the stock. Also, insider Peter Douglas Zebedee sold 43,364 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of C$62.53, for a total transaction of C$2,711,550.92. In the last three months, insiders have sold 164,675 shares of company stock valued at $10,208,871. 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.