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

Suncor Energy (TSE:SU) (NYSE:SU) had its target price lifted by Raymond James Financial from C$76.00 to C$93.00 in a research report sent to investors on Monday,BayStreet.CA reports.

Other research analysts have also recently issued reports about the stock. Jefferies Financial Group increased their price objective on shares of Suncor Energy from C$66.00 to C$82.00 in a report on Monday, March 16th. Royal Bank Of Canada upped their price objective on Suncor Energy from C$69.00 to C$75.00 and gave the company an “outperform” rating in a report on Thursday, February 5th. Canadian Imperial Bank of Commerce lifted their target price on Suncor Energy from C$70.00 to C$88.00 in a report on Monday, March 2nd. Scotiabank boosted their price target on shares of Suncor Energy from C$62.00 to C$70.00 and gave the stock a “sector perform” rating in a research report on Tuesday, January 20th. Finally, ATB Cormark Capital Markets raised their price objective on shares of Suncor Energy from C$71.00 to C$95.00 and gave the company a “sector perform” rating in a research report on Friday. Six investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Suncor Energy has an average rating of “Moderate Buy” and a consensus target price of C$78.79.

Suncor Energy Stock Performance

Shares of TSE SU opened at C$91.94 on Monday. Suncor Energy has a 12-month low of C$43.59 and a 12-month high of C$94.34. The company has a market cap of C$109.12 billion, a PE ratio of 18.96, a P/E/G ratio of 0.15 and a beta of 0.75. The stock has a 50 day simple moving average of C$77.83 and a 200-day simple moving average of C$66.13. The company has a current ratio of 1.39, a quick ratio of 0.83 and a debt-to-equity ratio of 40.74.

Suncor Energy (TSE:SU) (NYSE:SU) last posted its earnings results on Tuesday, February 3rd. The company reported C$1.10 EPS for the quarter. The firm had revenue of C$12.04 billion for the quarter. Suncor Energy had a return on equity of 13.17% and a net margin of 12.10%. On average, equities research analysts forecast that Suncor Energy will post 4.4208333 EPS for the current year.

Suncor Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 25th were issued a $0.60 dividend. The ex-dividend date was Wednesday, March 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.6%. Suncor Energy’s dividend payout ratio is currently 47.63%.

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.