Suncor Energy (TSE:SU) Price Target Raised to C$85.00

Suncor Energy (TSE:SU) (NYSE:SU) had its price target lifted by National Bankshares from C$72.00 to C$85.00 in a research report sent to investors on Tuesday,BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other research firms have also commented on SU. UBS Group increased their price objective on shares of Suncor Energy from C$61.00 to C$65.00 in a research note on Wednesday, November 5th. TD Securities upped their target price on Suncor Energy from C$71.00 to C$73.00 and gave the company a “buy” rating in a report on Friday, December 12th. Scotiabank lifted their price target on Suncor Energy from C$62.00 to C$70.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 20th. Desjardins upped their price objective 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, CIBC lifted their target price on Suncor Energy from C$65.00 to C$70.00 in a research note on Thursday, November 27th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Suncor Energy has an average rating of “Moderate Buy” and an average target price of C$72.79.

Suncor Energy Price Performance

Shares of TSE:SU opened at C$72.72 on Tuesday. The company has a current ratio of 1.59, a quick ratio of 0.83 and a debt-to-equity ratio of 33.35. The stock’s fifty day simple moving average is C$64.35 and its two-hundred day simple moving average is C$59.46. Suncor Energy has a 1-year low of C$43.59 and a 1-year high of C$75.50. The stock has a market cap of C$87.36 billion, a PE ratio of 16.95, a price-to-earnings-growth ratio of 0.15 and a beta of 0.89.

Suncor Energy (TSE:SU) (NYSE:SU) last posted its earnings results on Tuesday, February 3rd. The company reported C$1.10 earnings per share (EPS) for the quarter. Suncor Energy had a net margin of 15.15% and a return on equity of 18.10%. As a group, analysts forecast that Suncor Energy will post 4.4208333 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 24th. Shareholders of record on Wednesday, December 24th were given a $0.60 dividend. This is an increase from Suncor Energy’s previous quarterly dividend of $0.57. 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. Suncor Energy’s dividend payout ratio (DPR) is 53.15%.

Insider Buying and Selling at Suncor Energy

In related news, insider Peter Douglas Zebedee sold 43,364 shares of Suncor Energy stock in a transaction dated Monday, November 17th. The stock was 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 company’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 sale, the insider directly owned 48,482 shares in the company, valued at approximately C$2,993,278.68. This trade represents a 69.90% decrease in their ownership of the stock. Insiders have sold a total of 164,675 shares of company stock worth $10,208,871 over the last ninety days. 0.01% of the stock is currently owned by company insiders.

Key Headlines Impacting Suncor Energy

Here are the key news stories impacting Suncor Energy this week:

• Positive Sentiment: Desjardins raised its target to C$85.00 and kept a “buy” rating, implying ~16.9% upside versus the current price. Desjardins raise to C$85
• Positive Sentiment: BMO Capital Markets raised its target to C$85.00 and set an “outperform” rating, signaling material upside. BMO raise to C$85
• Positive Sentiment: TD Securities lifted its target to C$81.00, representing double-digit upside from recent levels. TD raise to C$81
• Positive Sentiment: National Bankshares raised its target to C$85.00, reinforcing bullish analyst sentiment. National Bankshares boost to C$85
• Positive Sentiment: Raymond James increased its target to C$76.00 and kept an “outperform” view, adding to the cluster of upward revisions. Raymond James raise to C$76
• Positive Sentiment: RBC raised its target to C$75.00 and maintained an “outperform” call. RBC raise to C$75
• Positive Sentiment: Suncor reported a Q4 beat and quarterly-record production, supporting the bullish analyst moves despite soft oil prices. Q4 beat & record production
• Negative Sentiment: ATB Capital raised its target to C$71.00 but kept a “sector perform” rating; that target implies slight downside from current levels and is a more cautious take amid the broader bullishness. ATB raise to C$71

Suncor Energy Company Profile

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.