Desjardins Issues Positive Forecast for Suncor Energy (TSE:SU) Stock Price

Suncor Energy (TSE:SU) (NYSE:SU) had its target price raised by Desjardins from C$74.00 to C$79.00 in a research report report published on Monday morning,BayStreet.CA reports. Desjardins currently has a buy rating on the stock.

A number of other research firms also recently weighed in on SU. JPMorgan Chase & Co. raised their price target on shares of Suncor Energy from C$59.00 to C$64.00 in a research note on Thursday, November 6th. National Bankshares dropped their price objective on shares of Suncor Energy from C$73.00 to C$72.00 and set an “outperform” rating for the company in a research note on Friday, January 9th. Raymond James Financial boosted their target price on shares of Suncor Energy from C$70.00 to C$75.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 7th. Royal Bank Of Canada upped their price target on shares of Suncor Energy from C$67.00 to C$70.00 and gave the stock an “outperform” rating in a report on Friday, January 9th. Finally, UBS Group increased their price target on Suncor Energy from C$61.00 to C$65.00 in a research note on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$68.62.

Suncor Energy Price Performance

Suncor Energy stock opened at C$70.13 on Monday. 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 has a 52 week low of C$43.59 and a 52 week high of C$70.55. The stock has a market capitalization of C$84.24 billion, a P/E ratio of 16.35, a price-to-earnings-growth ratio of 0.15 and a beta of 0.79. The stock has a fifty day moving average of C$62.87 and a 200-day moving average of C$58.52.

Suncor Energy (TSE:SU) (NYSE:SU) last released its quarterly earnings data on Tuesday, November 4th. The company reported C$1.48 earnings per share for the quarter. The business had revenue of C$12.55 billion for the quarter. Suncor Energy had a return on equity of 18.10% and a net margin of 15.15%. On average, sell-side analysts expect that Suncor Energy will post 4.4208333 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 24th. Investors of record on Wednesday, December 24th were paid a $0.60 dividend. 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 3.4%. The ex-dividend date of this dividend was Wednesday, December 3rd. Suncor Energy’s payout ratio is presently 53.15%.

Insider Buying and Selling

In other Suncor Energy news, insider Kristopher Peter Smith sold 112,600 shares of the company’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of C$61.74, for a total value of C$6,951,924.00. Following the sale, the insider owned 48,482 shares in the company, valued at approximately C$2,993,278.68. The trade was a 69.90% decrease in their position. Also, insider Peter Douglas Zebedee sold 43,364 shares of the firm’s 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. Insiders sold a total of 164,675 shares of company stock valued at $10,208,871 in the last three months. 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. It also conducts energy trading activities focused principally on the marketing and trading of crude oil, natural gas, byproducts, refined products and power.