Raymond James Raises Suncor Energy (TSE:SU) Price Target to C$58.00

Suncor Energy (TSE:SU) (NYSE:SU) had its price objective boosted by Raymond James from C$57.00 to C$58.00 in a research note published on Friday morning,BayStreet.CA reports. They currently have a market perform rating on the stock.

A number of other research firms also recently commented on SU. TD Securities upped their price objective on shares of Suncor Energy from C$60.00 to C$62.00 in a research note on Wednesday, November 13th. Royal Bank of Canada dropped their price target on shares of Suncor Energy from C$66.00 to C$65.00 in a research report on Tuesday, January 14th. Scotiabank lifted their price target on shares of Suncor Energy from C$59.00 to C$62.00 in a report on Wednesday, November 13th. Jefferies Financial Group upped their price objective on Suncor Energy from C$54.00 to C$58.00 in a report on Thursday, January 30th. Finally, JPMorgan Chase & Co. increased their target price on Suncor Energy from C$59.00 to C$61.00 in a research report on Friday, December 13th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of C$62.54.

Suncor Energy Stock Up 0.6 %

SU stock opened at C$55.34 on Friday. The company has a 50 day moving average price of C$53.98 and a two-hundred day moving average price of C$53.72. The company has a debt-to-equity ratio of 34.98, a quick ratio of 0.83 and a current ratio of 1.46. The stock has a market capitalization of C$70.28 billion, a P/E ratio of 9.51, a PEG ratio of 0.15 and a beta of 1.47. Suncor Energy has a one year low of C$42.43 and a one year high of C$58.58.

Suncor Energy (TSE:SU) (NYSE:SU) last announced its quarterly earnings data on Tuesday, November 12th. The company reported C$1.48 EPS for the quarter, beating analysts’ consensus estimates of C$1.10 by C$0.38. Suncor Energy had a return on equity of 17.68% and a net margin of 14.87%. During the same period in the prior year, the company earned $1.52 earnings per share. As a group, sell-side analysts expect that Suncor Energy will post 4.4208333 EPS for the current year.

Suncor Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 24th. Investors of record on Tuesday, December 24th were issued a dividend of $0.57 per share. This is an increase from Suncor Energy’s previous quarterly dividend of $0.55. This represents a $2.28 annualized dividend and a dividend yield of 4.12%. The ex-dividend date of this dividend was Tuesday, December 3rd. Suncor Energy’s dividend payout ratio (DPR) is presently 37.46%.

Insider Buying and Selling

In related news, Senior Officer Shelley Powell sold 50,000 shares of the 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 that occurred on Monday, November 18th. The shares were 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 corporate 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.