Suncor Energy (TSE:SU) Price Target Raised to C$79.00

Suncor Energy (TSE:SU) (NYSE:SU) had its price objective hoisted by Desjardins from C$74.00 to C$79.00 in a research report released on Monday morning,BayStreet.CA reports. Desjardins currently has a buy rating on the stock.

A number of other research analysts have also issued reports on the company. JPMorgan Chase & Co. boosted their price target on Suncor Energy from C$59.00 to C$64.00 in a research report on Thursday, November 6th. UBS Group upped their price objective on shares of Suncor Energy from C$61.00 to C$65.00 in a report on Wednesday, November 5th. Wells Fargo & Company set a C$57.00 target price on shares of Suncor Energy and gave the company an “equal weight” rating in a research report on Friday, October 17th. Gerdes Energy Research boosted their price target on shares of Suncor Energy from C$75.00 to C$78.00 in a research report on Monday, November 10th. Finally, Scotiabank upped their price target on shares of Suncor Energy from C$62.00 to C$70.00 and gave the stock a “sector perform” rating in a research note on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$68.62.

Suncor Energy Trading Up 1.7%

Suncor Energy stock opened at C$71.80 on Monday. Suncor Energy has a 52-week low of C$43.59 and a 52-week high of C$72.10. The company has a quick ratio of 0.83, a current ratio of 1.59 and a debt-to-equity ratio of 33.35. The firm has a market capitalization of C$86.25 billion, a price-to-earnings ratio of 16.74, a PEG ratio of 0.15 and a beta of 0.79. The firm has a 50-day moving average price of C$63.18 and a two-hundred day moving average price of C$58.73.

Suncor Energy (TSE:SU) (NYSE:SU) last released its quarterly earnings results 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 company had revenue of C$12.55 billion for the quarter. Sell-side 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. Shareholders 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 3.3%. 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 dividend payout ratio is currently 53.15%.

Insider Activity

In related news, insider Peter Douglas Zebedee sold 43,364 shares of the stock in a transaction that occurred on 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. Also, insider Kristopher Peter Smith sold 112,600 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of C$61.74, for a total transaction of C$6,951,924.00. Following the sale, the insider owned 48,482 shares of the company’s stock, valued at C$2,993,278.68. The trade was a 69.90% decrease in their ownership of the stock. In the last quarter, insiders sold 164,675 shares of company stock worth $10,208,871. Corporate 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. It also conducts energy trading activities focused principally on the marketing and trading of crude oil, natural gas, byproducts, refined products and power.