Suncor Energy (TSE:SU) Given New C$70.00 Price Target at Scotiabank

Suncor Energy (TSE:SU) (NYSE:SU) had its price target upped by Scotiabank from C$62.00 to C$70.00 in a report issued on Tuesday,BayStreet.CA reports. Scotiabank currently has a sector perform rating on the stock.

Several other equities research analysts have also recently weighed in on the company. UBS Group upped their target price on Suncor Energy from C$61.00 to C$65.00 in a report on Wednesday, November 5th. National Bankshares decreased their price objective on Suncor Energy from C$73.00 to C$72.00 and set an “outperform” rating for the company in a report on Friday, January 9th. CIBC increased their target price on shares of Suncor Energy from C$65.00 to C$70.00 in a report on Thursday, November 27th. JPMorgan Chase & Co. boosted their price target on shares of Suncor Energy from C$59.00 to C$64.00 in a report on Thursday, November 6th. Finally, Gerdes Energy Research increased their price objective on shares of Suncor Energy from C$75.00 to C$78.00 in a research note on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of C$68.23.

Suncor Energy Price Performance

Suncor Energy stock opened at C$68.31 on Tuesday. The company has a debt-to-equity ratio of 33.35, a current ratio of 1.59 and a quick ratio of 0.83. The stock has a market cap of C$82.06 billion, a price-to-earnings ratio of 15.92, a price-to-earnings-growth ratio of 0.15 and a beta of 0.79. The firm has a 50-day moving average of C$62.25 and a two-hundred day moving average of C$58.06. Suncor Energy has a 1 year low of C$43.59 and a 1 year high of C$70.32.

Suncor Energy (TSE:SU) (NYSE:SU) last posted its quarterly earnings results on Tuesday, November 4th. The company reported C$1.48 earnings per share for the quarter. The firm had revenue of C$12.55 billion during the quarter. Suncor Energy had a net margin of 15.15% and a return on equity of 18.10%. On average, research analysts forecast that Suncor Energy will post 4.4208333 earnings per share for the current year.

Suncor Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 24th. Shareholders of record on Wednesday, December 24th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Wednesday, December 3rd. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.57. This represents a $2.40 annualized dividend and a dividend yield of 3.5%. Suncor Energy’s payout ratio is currently 53.15%.

Insider Activity

In other news, insider Troy Ward Little sold 8,711 shares of Suncor Energy stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of C$62.61, for a total value of C$545,395.71. Also, insider Peter Douglas Zebedee sold 43,364 shares of the business’s stock in a transaction that occurred 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 ninety days, insiders have sold 164,675 shares of company stock worth $10,208,871. Corporate insiders own 0.01% of the company’s stock.

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.