UBS Group Forecasts Strong Price Appreciation for Suncor Energy (TSE:SU) Stock

Suncor Energy (TSE:SU) (NYSE:SU) had its price objective increased by UBS Group from C$61.00 to C$65.00 in a research note released on Monday,BayStreet.CA reports.

Other research analysts also recently issued reports about the stock. TD Securities upped their price target on shares of Suncor Energy from C$60.00 to C$62.00 in a report on Wednesday, November 13th. Scotiabank increased their price objective on Suncor Energy from C$59.00 to C$62.00 in a report on Wednesday, November 13th. National Bankshares upped their price target on shares of Suncor Energy from C$73.00 to C$76.00 in a research report on Thursday, November 14th. Royal Bank of Canada upped their price target on shares of Suncor Energy from C$64.00 to C$66.00 in a research report on Thursday, November 14th. Finally, BMO Capital Markets raised shares of Suncor Energy from a “market perform” rating to an “outperform” rating and set a C$62.00 price target on the stock in a research report on Wednesday, August 7th. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$61.81.

Suncor Energy Stock Up 0.7 %

Shares of SU opened at C$57.50 on Monday. Suncor Energy has a one year low of C$40.07 and a one year high of C$57.69. The company has a market cap of C$73.03 billion, a P/E ratio of 9.88, a P/E/G ratio of 0.15 and a beta of 1.47. The company has a debt-to-equity ratio of 34.98, a current ratio of 1.46 and a quick ratio of 0.83. The firm has a 50 day simple moving average of C$53.31 and a two-hundred day simple moving average of C$53.22.

Suncor Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 25th were paid a dividend of $0.545 per share. The ex-dividend date was Wednesday, September 4th. This represents a $2.18 annualized dividend and a dividend yield of 3.79%. Suncor Energy’s payout ratio is currently 37.46%.

Insider Buying and Selling

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

Suncor Energy Company Profile

Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.