Desjardins Increases Suncor Energy (TSE:SU) Price Target to C$59.00

Suncor Energy (TSE:SU) (NYSE:SU) had its price objective hoisted by Desjardins from C$56.00 to C$59.00 in a research report released on Tuesday morning, BayStreet.CA reports. Desjardins currently has a hold rating on the stock.

Other equities analysts have also issued research reports about the stock. ATB Capital raised their price objective on shares of Suncor Energy from C$53.00 to C$57.50 and gave the company a sector perform rating in a research report on Wednesday, May 22nd. Wells Fargo & Company raised their price objective on shares of Suncor Energy from C$61.00 to C$66.00 and gave the company an overweight rating in a research report on Wednesday, May 22nd. Royal Bank of Canada raised their price objective on shares of Suncor Energy from C$60.00 to C$65.00 and gave the company an outperform rating in a research report on Wednesday, May 22nd. Scotiabank reduced their price objective on shares of Suncor Energy from C$61.00 to C$60.00 in a research report on Friday, July 12th. Finally, National Bankshares raised their price objective on shares of Suncor Energy from C$75.00 to C$79.00 and gave the company an outperform rating in a research report on Wednesday, May 22nd. Eight equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of C$61.75.

Suncor Energy Stock Performance

Shares of SU opened at C$53.20 on Tuesday. The firm has a 50-day moving average price of C$52.70 and a 200 day moving average price of C$49.75. The firm has a market capitalization of C$68.10 billion, a PE ratio of 8.76, a P/E/G ratio of 0.15 and a beta of 1.50. The company has a quick ratio of 0.83, a current ratio of 1.51 and a debt-to-equity ratio of 36.00. Suncor Energy has a 52-week low of C$39.30 and a 52-week high of C$56.69.

Suncor Energy (TSE:SU) (NYSE:SU) last announced its earnings results on Tuesday, May 7th. The company reported C$1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.23 by C$0.18. The firm had revenue of C$12.53 billion during the quarter, compared to analyst estimates of C$11.81 billion. Suncor Energy had a net margin of 15.85% and a return on equity of 18.64%. On average, sell-side analysts anticipate that Suncor Energy will post 5.7081192 earnings per share for the current fiscal year.

Suncor Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 25th. Stockholders of record on Tuesday, June 25th were given a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date was Tuesday, June 4th. Suncor Energy’s dividend payout ratio (DPR) is 35.91%.

Insider Transactions at Suncor Energy

In other news, Senior Officer Kristopher Peter Smith sold 100,000 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of C$51.66, for a total value of C$5,165,900.00. 0.01% of the stock is owned by 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.