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

Suncor Energy (TSE:SU) (NYSE:SU) had its price target increased by ATB Capital from C$68.00 to C$71.00 in a report issued on Thursday morning,BayStreet.CA reports. The brokerage currently has a sector perform rating on the stock.

SU has been the topic of several other research reports. JPMorgan Chase & Co. boosted their target price on shares of Suncor Energy from C$59.00 to C$64.00 in a report on Thursday, November 6th. Gerdes Energy Research lifted their price objective on Suncor Energy from C$75.00 to C$78.00 in a research report on Monday, November 10th. UBS Group upped their target price on Suncor Energy from C$61.00 to C$65.00 in a research report on Wednesday, November 5th. Royal Bank Of Canada lifted their target price on Suncor Energy from C$69.00 to C$75.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, BMO Capital Markets boosted their price target on Suncor Energy from C$69.00 to C$85.00 and gave the company an “outperform” rating in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Suncor Energy presently has an average rating of “Moderate Buy” and an average price target of C$72.79.

Suncor Energy Price Performance

Suncor Energy stock opened at C$72.72 on Thursday. The stock’s 50 day moving average is C$64.35 and its 200 day moving average is C$59.46. Suncor Energy has a one year low of C$43.59 and a one year high of C$75.50. The firm has a market cap of C$87.36 billion, a P/E ratio of 16.95, a P/E/G ratio of 0.15 and a beta of 0.89. The company has a debt-to-equity ratio of 33.35, a current ratio of 1.59 and a quick ratio of 0.83.

Suncor Energy (TSE:SU) (NYSE:SU) last released its quarterly earnings results on Tuesday, February 3rd. The company reported C$1.10 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, research analysts expect that Suncor Energy will post 4.4208333 EPS for the current year.

Suncor Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 24th. Shareholders of record on Wednesday, December 24th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.3%. This is a boost from Suncor Energy’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Wednesday, December 3rd. Suncor Energy’s payout ratio is 53.15%.

Insider Transactions at Suncor Energy

In other Suncor Energy news, insider Kristopher Peter Smith sold 112,600 shares of the business’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of C$61.74, for a total transaction of C$6,951,924.00. Following the completion of 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 company’s stock in a transaction dated 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. Insiders have sold 164,675 shares of company stock valued at $10,208,871 over the last ninety days. 0.01% of the stock is owned by company insiders.

More Suncor Energy News

Here are the key news stories impacting Suncor Energy this week:

• Positive Sentiment: Desjardins raised its target to C$85.00 and kept a “buy” rating, implying ~16.9% upside versus the current price. Desjardins raise to C$85
• Positive Sentiment: BMO Capital Markets raised its target to C$85.00 and set an “outperform” rating, signaling material upside. BMO raise to C$85
• Positive Sentiment: TD Securities lifted its target to C$81.00, representing double-digit upside from recent levels. TD raise to C$81
• Positive Sentiment: National Bankshares raised its target to C$85.00, reinforcing bullish analyst sentiment. National Bankshares boost to C$85
• Positive Sentiment: Raymond James increased its target to C$76.00 and kept an “outperform” view, adding to the cluster of upward revisions. Raymond James raise to C$76
• Positive Sentiment: RBC raised its target to C$75.00 and maintained an “outperform” call. RBC raise to C$75
• Positive Sentiment: Suncor reported a Q4 beat and quarterly-record production, supporting the bullish analyst moves despite soft oil prices. Q4 beat & record production
• Negative Sentiment: ATB Capital raised its target to C$71.00 but kept a “sector perform” rating; that target implies slight downside from current levels and is a more cautious take amid the broader bullishness. ATB raise to C$71

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.