Suncor Energy (TSE:SU) Price Target Raised to C$62.00 at Scotiabank

Suncor Energy (TSE:SU) (NYSE:SU) had its price objective boosted by Scotiabank from C$59.00 to C$62.00 in a report released on Wednesday,BayStreet.CA reports.

SU has been the subject of several other reports. Wolfe Research upgraded Suncor Energy to a “strong-buy” rating in a research note on Thursday, July 18th. Desjardins boosted their target price on Suncor Energy from C$56.00 to C$59.00 and gave the stock a “hold” rating in a research note on Tuesday, July 23rd. Royal Bank of Canada decreased their price target on shares of Suncor Energy from C$67.00 to C$64.00 in a report on Tuesday, September 17th. TD Securities increased their price objective on shares of Suncor Energy from C$60.00 to C$62.00 in a research note on Wednesday. Finally, BMO Capital Markets raised shares of Suncor Energy from a “market perform” rating to an “outperform” rating and set a C$62.00 target price on the stock in a research note on Wednesday, August 7th. Six research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Suncor Energy currently has an average rating of “Moderate Buy” and an average price target of C$60.79.

Suncor Energy Price Performance

SU stock opened at C$55.40 on Wednesday. The company’s 50-day moving average price is C$52.49 and its two-hundred day moving average price is C$53.06. Suncor Energy has a 12 month low of C$40.07 and a 12 month high of C$57.32. The company has a quick ratio of 0.83, a current ratio of 1.46 and a debt-to-equity ratio of 34.98. The firm has a market cap of C$70.36 billion, a P/E ratio of 9.52, a P/E/G ratio of 0.15 and a beta of 1.47.

Suncor Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 25th were given a dividend of $0.545 per share. The ex-dividend date was Wednesday, September 4th. This represents a $2.18 dividend on an annualized basis and a dividend yield of 3.94%. Suncor Energy’s dividend payout ratio (DPR) is presently 37.46%.

Insider Activity at Suncor Energy

In other news, Senior Officer Jacqueline Sue Moore sold 37,700 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of C$56.54, for a total value of C$2,131,558.00. 0.01% of the stock is currently owned by corporate insiders.

About Suncor Energy

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.