Scotiabank Increases Suncor Energy (TSE:SU) Price Target to C$61.00

Suncor Energy (TSE:SU) (NYSE:SU) had its target price lifted by Scotiabank from C$54.00 to C$61.00 in a research report sent to investors on Wednesday, BayStreet.CA reports. Scotiabank currently has a sector perform rating on the stock.

Other equities analysts also recently issued reports about the company. Jefferies Financial Group boosted their price objective on Suncor Energy from C$54.00 to C$62.00 and gave the stock a hold rating in a research report on Wednesday. Wells Fargo & Company boosted their price target on Suncor Energy from C$61.00 to C$66.00 and gave the stock an overweight rating in a research report on Wednesday. BMO Capital Markets increased their price target on Suncor Energy from C$60.00 to C$62.00 and gave the stock a market perform rating in a research note on Wednesday. Royal Bank of Canada lifted their price objective on shares of Suncor Energy from C$58.00 to C$60.00 in a research note on Thursday, May 9th. Finally, Desjardins upped their price objective on shares of Suncor Energy from C$48.50 to C$54.00 and gave the stock a hold rating in a report on Tuesday, April 23rd. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Suncor Energy presently has a consensus rating of Hold and a consensus target price of C$62.42.

Suncor Energy Stock Down 0.2 %

Suncor Energy stock opened at C$55.06 on Wednesday. The company has a debt-to-equity ratio of 36.00, a quick ratio of 0.83 and a current ratio of 1.51. Suncor Energy has a one year low of C$37.09 and a one year high of C$56.69. The company has a 50-day simple moving average of C$52.51 and a 200-day simple moving average of C$47.09. The firm has a market capitalization of C$70.48 billion, a P/E ratio of 9.12, a P/E/G ratio of 0.15 and a beta of 1.50.

Suncor Energy (TSE:SU) (NYSE:SU) last posted its earnings results on Wednesday, February 21st. The company reported C$1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.05 by C$0.21. Suncor Energy had a net margin of 15.85% and a return on equity of 18.64%. The firm had revenue of C$14.14 billion during the quarter, compared to analyst estimates of C$11.33 billion. As a group, equities analysts expect that Suncor Energy will post 4.9972527 earnings per share for the current year.

Suncor Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Tuesday, June 4th will be paid a $0.545 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $2.18 annualized dividend and a dividend yield of 3.96%. Suncor Energy’s dividend payout ratio is currently 36.09%.

Insider Buying and Selling

In related news, Senior Officer Shelley Powell sold 16,400 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of C$45.84, for a total transaction of C$751,776.00. Insiders own 0.01% of the company’s stock.

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.