Suncor Energy (TSE:SU) Price Target Increased to C$65.00 by Analysts at Royal Bank of Canada

Suncor Energy (TSE:SU) (NYSE:SU) had its price objective increased by Royal Bank of Canada from C$60.00 to C$65.00 in a research report report published on Wednesday morning, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

SU has been the topic of several other reports. CIBC lifted 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. BMO Capital Markets lifted their price target on shares of Suncor Energy from C$60.00 to C$62.00 and gave the stock a market perform rating in a research note on Wednesday. Desjardins increased their price objective on shares of Suncor Energy from C$54.00 to C$56.00 and gave the company a hold rating in a research note on Wednesday. TD Securities raised their price objective on shares of Suncor Energy from C$52.00 to C$57.00 and gave the stock a hold rating in a report on Wednesday. Finally, National Bankshares upped their target price on shares of Suncor Energy from C$75.00 to C$79.00 and gave the company an outperform rating in a research note on Wednesday. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average target price of C$62.42.

Suncor Energy Stock Performance

Suncor Energy stock opened at C$55.06 on Wednesday. Suncor Energy has a 12-month low of C$37.09 and a 12-month high of C$56.69. The company has a debt-to-equity ratio of 36.00, a current ratio of 1.51 and a quick ratio of 0.83. The company has a market capitalization of C$70.48 billion, a price-to-earnings ratio of 9.12, a price-to-earnings-growth ratio of 0.15 and a beta of 1.50. The firm’s fifty day moving average price is C$52.51 and its 200 day moving average price is C$47.09.

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

Suncor Energy Dividend Announcement

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

Insider Activity

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. Corporate insiders own 0.01% of the company’s stock.

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.