Suncor Energy (TSE:SU) Price Target Raised to C$58.00

Suncor Energy (TSE:SU) (NYSE:SU) had its target price hoisted by Raymond James from C$57.00 to C$58.00 in a research report released on Friday morning,BayStreet.CA reports. They currently have a market perform rating on the stock. Raymond James also issued estimates for Suncor Energy’s FY2029 earnings at $5.03 EPS.

Several other research analysts also recently commented on the stock. Scotiabank lifted their target price on shares of Suncor Energy from C$59.00 to C$62.00 in a research note on Wednesday, November 13th. National Bankshares raised their target price on Suncor Energy from C$65.00 to C$68.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Wells Fargo & Company lowered their price objective on Suncor Energy from C$66.00 to C$64.00 in a research report on Monday, December 9th. Royal Bank of Canada dropped their price target on Suncor Energy from C$66.00 to C$65.00 in a research report on Tuesday, January 14th. Finally, TD Securities increased their target price on Suncor Energy from C$60.00 to C$62.00 in a research note on Wednesday, November 13th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$62.54.

Suncor Energy Stock Up 0.6 %

Shares of TSE:SU opened at C$55.34 on Friday. The company has a market capitalization of C$70.28 billion, a PE ratio of 9.51, a price-to-earnings-growth ratio of 0.15 and a beta of 1.47. Suncor Energy has a 1 year low of C$42.43 and a 1 year high of C$58.58. The company has a debt-to-equity ratio of 34.98, a current ratio of 1.46 and a quick ratio of 0.83. The business has a fifty day moving average price of C$53.97 and a two-hundred day moving average price of C$53.75.

Suncor Energy (TSE:SU) (NYSE:SU) last released its quarterly earnings data on Tuesday, November 12th. The company reported C$1.48 EPS for the quarter, topping the consensus estimate of C$1.10 by C$0.38. Suncor Energy had a net margin of 14.87% and a return on equity of 17.68%. During the same period in the prior year, the firm posted $1.52 earnings per share. Analysts forecast that Suncor Energy will post 4.4208333 earnings per share for the current year.

Suncor Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 24th were issued a $0.57 dividend. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $2.28 dividend on an annualized basis and a yield of 4.12%. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.55. Suncor Energy’s dividend payout ratio (DPR) is presently 37.46%.

Insider Transactions at Suncor Energy

In other news, Senior Officer Kristopher Peter Smith sold 105,000 shares of Suncor Energy stock in a transaction dated Monday, November 18th. The stock was sold at an average price of C$57.10, for a total value of C$5,995,185.00. Also, Senior Officer Shelley Powell sold 50,000 shares of Suncor Energy stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of C$56.87, for a total value of C$2,843,700.00. 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.