Raymond James Financial Issues Positive Forecast for Suncor Energy (TSE:SU) Stock Price

Suncor Energy (TSE:SU) (NYSE:SU) had its price objective hoisted by Raymond James Financial from C$73.00 to C$76.00 in a research note published on Thursday,BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other analysts also recently issued reports on SU. Gerdes Energy Research lifted their price target on Suncor Energy from C$75.00 to C$78.00 in a research note on Monday, November 10th. CIBC lifted their target price on Suncor Energy from C$65.00 to C$70.00 in a research report on Thursday, November 27th. Wells Fargo & Company set a C$57.00 target price on Suncor Energy and gave the company an “equal weight” rating in a research note on Friday, October 17th. Royal Bank Of Canada raised their price target on shares of Suncor Energy from C$69.00 to C$75.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, TD Securities lifted their price objective on shares of Suncor Energy from C$74.00 to C$81.00 in a report on Wednesday. One investment 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 stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$72.79.

Suncor Energy Stock Performance

Shares of SU stock opened at C$72.72 on Thursday. The company has a debt-to-equity ratio of 33.35, a quick ratio of 0.83 and a current ratio of 1.59. The company has a market capitalization of C$87.36 billion, a P/E ratio of 16.95, a price-to-earnings-growth ratio of 0.15 and a beta of 0.89. The company’s 50 day moving average price is C$64.35 and its two-hundred day moving average price is C$59.46. Suncor Energy has a 52 week low of C$43.59 and a 52 week high of C$75.50.

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 for the quarter. Suncor Energy had a net margin of 15.15% and a return on equity of 18.10%. On average, analysts expect 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. Stockholders of record on Wednesday, December 24th were paid a dividend of $0.60 per share. The ex-dividend date was Wednesday, December 3rd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.3%. This is an increase from Suncor Energy’s previous quarterly dividend of $0.57. Suncor Energy’s dividend payout ratio (DPR) is currently 53.15%.

Insider Activity

In other Suncor Energy news, insider Troy Ward Little sold 8,711 shares of the stock in a transaction 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 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. In the last 90 days, insiders sold 164,675 shares of company stock valued at $10,208,871. 0.01% of the stock is owned by insiders.

Suncor Energy News Summary

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.