Suncor Energy (TSE:SU) Upgraded at Desjardins

Desjardins upgraded shares of Suncor Energy (TSE:SU) (NYSE:SU) to a moderate buy rating in a research report released on Thursday morning,Zacks.com reports.

Other equities analysts have also recently issued reports about the company. Wells Fargo & Company lifted their target price on Suncor Energy from C$74.00 to C$97.00 in a report on Wednesday, April 1st. TD Securities upped their target price on Suncor Energy from C$81.00 to C$91.00 and gave the company a “buy” rating in a report on Wednesday, April 1st. Gerdes Energy Research upgraded Suncor Energy from a “neutral” rating to a “buy” rating and increased their price target for the company from C$93.00 to C$96.00 in a research report on Monday, June 29th. Scotiabank raised Suncor Energy to a “strong-buy” rating in a research note on Friday, June 26th. Finally, Raymond James Financial boosted their price objective on Suncor Energy from C$76.00 to C$93.00 in a report on Monday, March 30th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$95.62.

Suncor Energy Stock Up 2.6%

TSE SU opened at C$87.53 on Thursday. Suncor Energy has a 12 month low of C$52.75 and a 12 month high of C$96.53. The company has a market capitalization of C$103.35 billion, a P/E ratio of 16.64, a PEG ratio of 0.15 and a beta of 0.17. The company’s 50 day simple moving average is C$85.30 and its 200 day simple moving average is C$81.03. The company has a debt-to-equity ratio of 32.36, a current ratio of 1.42 and a quick ratio of 0.83.

Suncor Energy (TSE:SU) (NYSE:SU) last issued its earnings results on Tuesday, May 5th. The company reported C$1.93 earnings per share for the quarter. The firm had revenue of C$14.48 billion during the quarter. Suncor Energy had a net margin of 12.17% and a return on equity of 14.01%. Equities research analysts expect that Suncor Energy will post 4.4208333 earnings per share for the current fiscal year.

Suncor Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 25th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.7%. The ex-dividend date was Thursday, June 4th. Suncor Energy’s payout ratio is presently 44.49%.

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.