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

Suncor Energy (TSE:SU) (NYSE:SU) had its price objective hoisted by Desjardins from C$79.00 to C$85.00 in a report issued on Thursday,BayStreet.CA reports. They currently have a buy rating on the stock.

Other equities analysts have also issued research reports about the stock. TD Securities raised their price objective on shares of Suncor Energy from C$74.00 to C$81.00 in a research report on Wednesday. JPMorgan Chase & Co. raised their price target on shares of Suncor Energy from C$59.00 to C$64.00 in a report on Thursday, November 6th. Raymond James Financial lifted their price objective on shares of Suncor Energy from C$70.00 to C$75.00 and gave the company an “outperform” rating in a research note on Wednesday, January 7th. Royal Bank Of Canada increased their target price on shares of Suncor Energy from C$69.00 to C$75.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, BMO Capital Markets raised their target price on Suncor Energy from C$69.00 to C$85.00 and gave the company an “outperform” rating 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 given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$72.79.

Suncor Energy Price Performance

Shares of TSE:SU opened at C$72.72 on Thursday. The firm has a market cap of C$87.36 billion, a price-to-earnings ratio of 16.95, a P/E/G ratio of 0.15 and a beta of 0.89. Suncor Energy has a 1 year low of C$43.59 and a 1 year high of C$75.50. 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 business has a fifty day simple moving average of C$64.35 and a 200 day simple moving average of C$59.46.

Suncor Energy (TSE:SU) (NYSE:SU) last posted its quarterly earnings results on Tuesday, February 3rd. The company reported C$1.10 earnings per share for the quarter. Suncor Energy had a return on equity of 18.10% and a net margin of 15.15%. As a group, sell-side analysts predict that Suncor Energy will post 4.4208333 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

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

Insider Activity at Suncor Energy

In other Suncor Energy news, insider Kristopher Peter Smith sold 112,600 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider owned 48,482 shares of the company’s stock, valued at C$2,993,278.68. This represents a 69.90% decrease in their position. Also, insider Peter Douglas Zebedee sold 43,364 shares of the firm’s stock in a transaction that occurred on 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 have sold 164,675 shares of company stock worth $10,208,871 over the last three months. Company insiders own 0.01% of the company’s stock.

Key Stories Impacting Suncor Energy

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.