Analysts Set Suncor Energy Inc. (TSE:SU) PT at C$61.89

Shares of Suncor Energy Inc. (TSE:SU) (NYSE:SU) have been assigned a consensus recommendation of “Moderate Buy” from the twelve research firms that are covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is C$61.89.

SU has been the subject of a number of recent analyst reports. Raymond James lowered their target price on shares of Suncor Energy from C$56.00 to C$55.00 in a research note on Friday, December 13th. Wells Fargo & Company lowered their price objective on shares of Suncor Energy from C$66.00 to C$64.00 in a research report on Monday, December 9th. Jefferies Financial Group reduced their target price on shares of Suncor Energy from C$62.00 to C$54.00 and set a “hold” rating on the stock in a research report on Friday, December 20th. Desjardins upgraded Suncor Energy from a “hold” rating to a “moderate buy” rating in a report on Thursday, November 14th. Finally, TD Securities raised their price objective on Suncor Energy from C$60.00 to C$62.00 in a report on Wednesday, November 13th.

Suncor Energy Price Performance

Suncor Energy stock opened at C$51.92 on Friday. The firm has a market capitalization of C$65.94 billion, a PE ratio of 8.92, a price-to-earnings-growth ratio of 0.15 and a beta of 1.47. Suncor Energy has a 12-month low of C$41.88 and a 12-month high of C$58.28. The firm has a 50-day moving average price of C$53.67 and a 200-day moving average price of C$53.04. The company has a current ratio of 1.46, a quick ratio of 0.83 and a debt-to-equity ratio of 34.98.

Suncor Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 24th were issued a dividend of $0.57 per share. The ex-dividend date of this dividend was Tuesday, December 3rd. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.55. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.39%. Suncor Energy’s payout ratio is 37.46%.

Insiders Place Their Bets

In other news, Senior Officer Shelley Powell sold 50,000 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of C$56.87, for a total value of C$2,843,700.00. Also, Senior Officer Kristopher Peter Smith sold 105,000 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of C$57.10, for a total value of C$5,995,185.00. 0.01% of the stock is currently owned by insiders.

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.