Suncor Energy (TSE:SU) Price Target Raised to C$70.00

Suncor Energy (TSE:SU) (NYSE:SU) had its target price raised by Scotiabank from C$62.00 to C$70.00 in a research report released on Tuesday morning,BayStreet.CA reports. They currently have a sector perform rating on the stock.

A number of other equities analysts have also issued reports on SU. National Bankshares reduced their price target on shares of Suncor Energy from C$73.00 to C$72.00 and set an “outperform” rating for the company in a research report on Friday, January 9th. Raymond James Financial increased their price objective on shares of Suncor Energy from C$70.00 to C$75.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 7th. UBS Group raised their target price on shares of Suncor Energy from C$61.00 to C$65.00 in a report on Wednesday, November 5th. CIBC upped their price target on shares of Suncor Energy from C$65.00 to C$70.00 in a report on Thursday, November 27th. Finally, Wells Fargo & Company set a C$57.00 price target on Suncor Energy and gave the stock an “equal weight” rating in a research report on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Suncor Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of C$68.23.

Suncor Energy Stock Performance

Shares of SU stock opened at C$68.72 on Tuesday. The business has a fifty day moving average of C$62.56 and a 200 day moving average of C$58.21. Suncor Energy has a 1 year low of C$43.59 and a 1 year high of C$70.32. 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 firm has a market capitalization of C$82.55 billion, a price-to-earnings ratio of 16.02, a price-to-earnings-growth ratio of 0.15 and a beta of 0.79.

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

Suncor Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 24th. Investors of record on Wednesday, December 24th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend was Wednesday, December 3rd. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.57. Suncor Energy’s payout ratio is currently 53.15%.

Insiders Place Their Bets

In other news, insider Peter Douglas Zebedee sold 43,364 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of C$62.53, for a total transaction of C$2,711,550.92. Also, insider Troy Ward Little sold 8,711 shares of the stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of C$62.61, for a total value of C$545,395.71. Over the last 90 days, insiders have sold 164,675 shares of company stock worth $10,208,871. 0.01% of the stock is owned by corporate insiders.

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. It also conducts energy trading activities focused principally on the marketing and trading of crude oil, natural gas, byproducts, refined products and power.