Brokerages Set Suncor Energy Inc. (TSE:SU) Target Price at C$61.89

Suncor Energy Inc. (TSE:SU) (NYSE:SU) has been given an average recommendation of “Moderate Buy” by the twelve research firms that are presently covering the company, Marketbeat reports. Four analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is C$61.89.

Several research analysts recently weighed in on the stock. Raymond James reduced their price target on shares of Suncor Energy from C$56.00 to C$55.00 in a research report on Friday, December 13th. JPMorgan Chase & Co. upped their price objective on shares of Suncor Energy from C$59.00 to C$61.00 in a research note on Friday, December 13th. UBS Group raised their target price on shares of Suncor Energy from C$61.00 to C$65.00 in a research note on Monday, November 18th. Royal Bank of Canada boosted their target price on Suncor Energy from C$64.00 to C$66.00 in a report on Thursday, November 14th. Finally, Jefferies Financial Group cut their price target on Suncor Energy from C$62.00 to C$54.00 and set a “hold” rating for the company in a report on Friday, December 20th.

Insider Activity

In other Suncor Energy news, Senior Officer Shelley Powell sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were 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 company’s stock in a transaction on 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. Insiders own 0.01% of the company’s stock.

Suncor Energy Stock Performance

TSE:SU opened at C$51.92 on Friday. 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$65.94 billion, a PE ratio of 8.92, a P/E/G ratio of 0.15 and a beta of 1.47. Suncor Energy has a fifty-two week low of C$41.88 and a fifty-two week high of C$58.28. The company has a fifty day moving average of C$53.67 and a two-hundred day moving average of C$53.04.

Suncor Energy Increases Dividend

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

Suncor Energy Company Profile

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.