Suncor Energy (TSE:SU) Upgraded at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Suncor Energy (TSE:SU) (NYSE:SU) to a hold rating in a research note published on Thursday morning,Zacks.com reports.

SU has been the subject of several other reports. Desjardins increased their price objective on Suncor Energy from C$64.00 to C$65.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Royal Bank Of Canada increased their price objective on Suncor Energy from C$62.00 to C$67.00 and gave the stock an “outperform” rating in a report on Tuesday, October 7th. ATB Capital raised their target price on Suncor Energy from C$60.00 to C$62.00 and gave the company a “sector perform” rating in a report on Thursday, August 7th. TD Securities raised their target price on Suncor Energy from C$62.00 to C$63.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Finally, Jefferies Financial Group raised their target price on Suncor Energy from C$53.00 to C$57.00 in a report on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$63.58.

Suncor Energy Price Performance

Shares of TSE:SU opened at C$54.04 on Thursday. Suncor Energy has a one year low of C$43.59 and a one year high of C$60.48. The stock has a fifty day moving average of C$56.44 and a 200-day moving average of C$52.90. The company has a market capitalization of C$66.34 billion, a PE ratio of 11.90, a price-to-earnings-growth ratio of 0.15 and a beta of 0.76. The company has a debt-to-equity ratio of 33.35, a quick ratio of 0.83 and a current ratio of 1.59.

Suncor Energy (TSE:SU) (NYSE:SU) last announced its earnings results on Tuesday, August 5th. The company reported C$0.71 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, equities analysts anticipate that Suncor Energy will post 4.4208333 EPS for the current fiscal year.

Suncor Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Thursday, September 25th were paid a dividend of $0.57 per share. The ex-dividend date was Thursday, September 4th. This represents a $2.28 dividend on an annualized basis and a yield of 4.2%. Suncor Energy’s dividend payout ratio (DPR) is currently 49.67%.

Insider Activity

In other Suncor Energy news, insider David Jason Oldreive sold 4,542 shares of the firm’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of C$57.50, for a total transaction of C$261,165.00. Also, insider Adam Husain Albeldawi sold 5,000 shares of Suncor Energy stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of C$58.44, for a total transaction of C$292,200.00. Over the last quarter, insiders have sold 139,542 shares of company stock valued at $8,052,015. 0.01% of the stock is owned by company 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.