Suncor Energy (TSE:SU) Announces Quarterly Earnings Results

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

Suncor Energy Stock Performance

Shares of SU stock opened at C$72.00 on Thursday. The stock has a market capitalization of C$86.49 billion, a PE ratio of 16.78, a PEG ratio of 0.15 and a beta of 0.89. The business’s 50 day simple moving average is C$64.15 and its 200 day simple moving average is C$59.37. The company has a debt-to-equity ratio of 33.35, a current ratio of 1.59 and a quick ratio of 0.83. Suncor Energy has a one year low of C$43.59 and a one year high of C$75.50.

Suncor Energy Increases Dividend

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on SU shares. BMO Capital Markets boosted their target price on shares of Suncor Energy from C$69.00 to C$85.00 and gave the stock an “outperform” rating in a research note on Wednesday. TD Securities boosted their price objective on Suncor Energy from C$74.00 to C$81.00 in a research report on Wednesday. Raymond James Financial increased their target price on Suncor Energy from C$70.00 to C$75.00 and gave the company an “outperform” rating in a research report on Wednesday, January 7th. Desjardins lifted their price target on Suncor Energy from C$74.00 to C$79.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Finally, UBS Group upped their price objective on Suncor Energy from C$61.00 to C$65.00 in a research note on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Suncor Energy presently has an average rating of “Moderate Buy” and an average price target of C$71.29.

Insider Transactions at Suncor Energy

In other news, insider Kristopher Peter Smith sold 112,600 shares of the company’s 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 sale, the insider directly owned 48,482 shares of the company’s stock, valued at approximately C$2,993,278.68. This represents a 69.90% decrease in their position. Also, insider Peter Douglas Zebedee sold 43,364 shares of the stock in a transaction 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. In the last 90 days, insiders have sold 164,675 shares of company stock worth $10,208,871. Company 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.