Suncor Energy (TSE:SU) Issues Quarterly Earnings Results

Suncor Energy (TSE:SU) (NYSE:SU) announced its earnings results on Tuesday. The company reported C$1.10 EPS for the quarter, FiscalAI reports. Suncor Energy had a return on equity of 18.10% and a net margin of 15.15%.

Suncor Energy Stock Up 1.2%

SU stock opened at C$72.85 on Wednesday. The company has a market capitalization of C$87.51 billion, a price-to-earnings ratio of 16.98, a price-to-earnings-growth ratio of 0.15 and a beta of 0.89. 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 52 week low of C$43.59 and a 52 week high of C$74.03. The firm’s 50-day moving average is C$63.96 and its two-hundred day moving average is C$59.28.

Suncor Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 24th. Investors of record on Wednesday, December 24th were given a $0.60 dividend. The ex-dividend date was Wednesday, December 3rd. This represents a $2.40 annualized dividend and a yield of 3.3%. This is an increase from Suncor Energy’s previous quarterly dividend of $0.57. Suncor Energy’s payout ratio is 53.15%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on SU shares. Desjardins raised their price target on shares of Suncor Energy from C$74.00 to C$79.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. National Bankshares boosted their price target on shares of Suncor Energy from C$72.00 to C$85.00 and gave the stock an “outperform” rating in a research report on Tuesday. Royal Bank Of Canada increased their price objective on Suncor Energy from C$67.00 to C$70.00 and gave the company an “outperform” rating in a report on Friday, January 9th. 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. Finally, Raymond James Financial upped their price target on shares of Suncor Energy from C$70.00 to C$75.00 and gave the company an “outperform” rating in a research note on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Suncor Energy currently has an average rating of “Moderate Buy” and a consensus price target of C$69.62.

Insiders Place Their Bets

In other Suncor Energy news, 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 value of C$2,711,550.92. Also, insider Kristopher Peter Smith sold 112,600 shares of the firm’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of C$61.74, for a total transaction of C$6,951,924.00. Following the transaction, the insider owned 48,482 shares of the company’s stock, valued at approximately C$2,993,278.68. This trade represents a 69.90% decrease in their position. Over the last three months, 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.