Wells Fargo & Company Raises Suncor Energy (TSE:SU) Price Target to C$66.00

Suncor Energy (TSE:SU) (NYSE:SU) had its target price boosted by Wells Fargo & Company from C$61.00 to C$66.00 in a research note issued to investors on Wednesday, BayStreet.CA reports. The firm currently has an overweight rating on the stock.

A number of other equities analysts also recently commented on the company. Jefferies Financial Group raised their price objective on Suncor Energy from C$54.00 to C$62.00 and gave the stock a hold rating in a report on Wednesday. Desjardins raised their price objective on Suncor Energy from C$48.50 to C$54.00 and gave the stock a hold rating in a report on Tuesday, April 23rd. National Bankshares raised their price objective on Suncor Energy from C$75.00 to C$79.00 and gave the stock an outperform rating in a report on Wednesday. TD Securities raised their price objective on Suncor Energy from C$52.00 to C$57.00 and gave the stock a hold rating in a report on Wednesday. Finally, CIBC raised their price objective on Suncor Energy from C$60.00 to C$65.00 and gave the stock an outperform rating in a report on Monday, April 22nd. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of C$62.42.

Suncor Energy Stock Performance

TSE SU opened at C$55.06 on Wednesday. The business’s 50-day moving average price is C$52.51 and its 200 day moving average price is C$47.07. Suncor Energy has a twelve month low of C$37.09 and a twelve month high of C$56.69. The company has a market capitalization of C$70.48 billion, a PE ratio of 9.12, a price-to-earnings-growth ratio of 0.15 and a beta of 1.50. The company has a current ratio of 1.51, a quick ratio of 0.83 and a debt-to-equity ratio of 36.00.

Suncor Energy (TSE:SU) (NYSE:SU) last released its quarterly earnings data on Wednesday, February 21st. The company reported C$1.26 EPS for the quarter, topping analysts’ consensus estimates of C$1.05 by C$0.21. The company had revenue of C$14.14 billion for the quarter, compared to the consensus estimate of C$11.33 billion. Suncor Energy had a return on equity of 18.64% and a net margin of 15.85%. On average, research analysts predict that Suncor Energy will post 4.9972527 earnings per share for the current year.

Suncor Energy Dividend Announcement

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

Insider Transactions at Suncor Energy

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 stock was sold at an average price of C$45.84, for a total value 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.