Suncor Energy (TSE:SU) Price Target Raised to C$117.00

Suncor Energy (TSE:SU) (NYSE:SU) had its target price boosted by Desjardins from C$110.00 to C$117.00 in a research note issued to investors on Tuesday,BayStreet reports. The firm currently has a buy rating on the stock.

A number of other analysts have also recently weighed in on SU. BMO Capital Markets raised their target price on shares of Suncor Energy from C$100.00 to C$105.00 in a report on Wednesday, August 5th. JPMorgan Chase & Co. raised their price target on shares of Suncor Energy from C$107.00 to C$114.00 in a report on Thursday, August 13th. National Bank Financial dropped their target price on Suncor Energy from C$146.00 to C$145.00 and set an “outperform” rating on the stock in a research report on Tuesday. Raymond James Financial increased their price target on shares of Suncor Energy from C$109.00 to C$118.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 16th. Finally, Scotiabank upgraded Suncor Energy to a “strong-buy” rating in a report on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$103.06.

Suncor Energy Price Performance

Shares of SU opened at C$108.39 on Tuesday. Suncor Energy has a one year low of C$54.55 and a one year high of C$112.80. The firm has a market capitalization of C$126.78 billion, a price-to-earnings ratio of 14.47, a price-to-earnings-growth ratio of 0.15 and a beta of 0.18. The stock’s fifty day moving average is C$97.69 and its 200-day moving average is C$90.86. The company has a debt-to-equity ratio of 30.48, a quick ratio of 0.83 and a current ratio of 1.65.

Suncor Energy (TSE:SU) (NYSE:SU) last issued its quarterly earnings results on Tuesday, August 4th. The company reported C$3.23 earnings per share for the quarter. The company had revenue of C$17.50 billion during the quarter. Suncor Energy had a net margin of 15.32% and a return on equity of 19.38%. Equities analysts anticipate that Suncor Energy will post 4.42 EPS for the current year.

Suncor Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 25th were issued a $0.60 dividend. The ex-dividend date of this dividend was Friday, September 4th. This represents a $2.40 annualized dividend and a dividend yield of 2.2%. Suncor Energy’s dividend payout ratio is presently 31.64%.

Insiders Place Their Bets

In other news, insider Shelley Powell sold 41,911 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of C$87.60, for a total transaction of C$3,671,403.60. Following the transaction, the insider directly owned 27,705 shares in the company, valued at approximately C$2,426,958. This represents a 60.20% decrease in their ownership of the stock. Also, insider Richard Michael Kruger sold 15,378 shares of the stock in a transaction on Thursday, August 20th. The shares were sold at an average price of C$94.84, for a total value of C$1,458,449.52. Insiders sold 79,792 shares of company stock worth $7,294,928 over the last ninety days. 0.01% of the stock is owned by insiders.

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.