Suncor Energy (TSE:SU) Price Target Raised to C$75.00 at Royal Bank Of Canada

Suncor Energy (TSE:SU) (NYSE:SU) had its price objective increased by Royal Bank Of Canada from C$69.00 to C$75.00 in a research report sent to investors on Thursday morning,BayStreet.CA reports. Royal Bank Of Canada currently has an outperform rating on the stock.

A number of other equities analysts have also recently weighed in on SU. Raymond James Financial upped their price target on Suncor Energy from C$70.00 to C$75.00 and gave the stock an “outperform” rating in a report on Wednesday, January 7th. JPMorgan Chase & Co. boosted their target price on shares of Suncor Energy from C$59.00 to C$64.00 in a research report on Thursday, November 6th. National Bankshares raised their price target on shares of Suncor Energy from C$72.00 to C$85.00 and gave the company an “outperform” rating in a report on Tuesday. Gerdes Energy Research lifted their price target on shares of Suncor Energy from C$75.00 to C$78.00 in a research note on Monday, November 10th. Finally, Wells Fargo & Company set a C$57.00 price objective on shares of Suncor Energy and gave the stock an “equal weight” rating in a report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$72.79.

Suncor Energy Stock Up 1.0%

Shares of Suncor Energy stock opened at C$72.72 on Thursday. Suncor Energy has a twelve month low of C$43.59 and a twelve month high of C$75.50. The stock has a market cap of C$87.36 billion, a price-to-earnings ratio of 16.95, a price-to-earnings-growth ratio of 0.15 and a beta of 0.89. The company has a current ratio of 1.59, a quick ratio of 0.83 and a debt-to-equity ratio of 33.35. The company has a fifty day moving average price of C$64.35 and a 200 day moving average price of C$59.46.

Suncor Energy (TSE:SU) (NYSE:SU) last issued its quarterly earnings data on Tuesday, February 3rd. The company reported C$1.10 EPS for the quarter. Suncor Energy had a return on equity of 18.10% and a net margin of 15.15%. Equities research analysts forecast that Suncor Energy will post 4.4208333 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

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

Insiders Place Their Bets

In related news, insider Kristopher Peter Smith sold 112,600 shares of the business’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 completion of the sale, the insider directly owned 48,482 shares of the company’s stock, valued at C$2,993,278.68. The trade was a 69.90% decrease in their ownership of the stock. Also, insider Peter Douglas Zebedee sold 43,364 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The shares were 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 ninety days. Corporate insiders own 0.01% of the company’s stock.

Key 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.