Royal Bank Of Canada Issues Positive Forecast for Suncor Energy (TSE:SU) Stock Price

Suncor Energy (TSE:SU) (NYSE:SU) had its price objective hoisted by Royal Bank Of Canada from C$89.00 to C$100.00 in a research report sent to investors on Wednesday morning,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

A number of other equities research analysts have also issued reports on the stock. Canadian Imperial Bank of Commerce upped their target price on shares of Suncor Energy from C$88.00 to C$92.00 in a report on Thursday, April 2nd. National Bank Financial upped their target price on shares of Suncor Energy from C$85.00 to C$118.00 and gave the stock an “outperform” rating in a report on Tuesday, March 31st. Scotiabank upped their target price on shares of Suncor Energy from C$80.00 to C$85.00 in a report on Wednesday, April 1st. Wells Fargo & Company upped their target price on shares of Suncor Energy from C$74.00 to C$97.00 in a report on Wednesday, April 1st. Finally, BMO Capital Markets upped their target price on shares of Suncor Energy from C$85.00 to C$100.00 in a report on Wednesday, April 1st. Seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Suncor Energy currently has an average rating of “Moderate Buy” and an average target price of C$88.93.

Suncor Energy Price Performance

Suncor Energy stock opened at C$89.24 on Wednesday. Suncor Energy has a 52-week low of C$43.59 and a 52-week high of C$94.34. The firm has a market capitalization of C$105.92 billion, a price-to-earnings ratio of 18.40, a PEG ratio of 0.15 and a beta of 0.23. The company has a fifty day simple moving average of C$80.84 and a 200-day simple moving average of C$67.69. The company has a quick ratio of 0.83, a current ratio of 1.39 and a debt-to-equity ratio of 40.74.

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

Suncor Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 25th. Investors of record on Wednesday, March 25th were issued a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, March 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.7%. 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.