Suncor Energy (TSE:SU) Stock Rating Upgraded by Scotiabank

Scotiabank upgraded shares of Suncor Energy (TSE:SU) (NYSE:SU) to a hold rating in a report published on Wednesday morning,Zacks.com reports.

Other equities research analysts have also issued research reports about the company. Gerdes Energy Research set a C$69.00 target price on Suncor Energy and gave the company a “buy” rating in a research note on Monday, November 25th. Jefferies Financial Group upped their target price on Suncor Energy from C$58.00 to C$59.00 in a research note on Monday, February 24th. Royal Bank of Canada reduced their target price on Suncor Energy from C$66.00 to C$65.00 in a research note on Tuesday, January 14th. Tudor Pickering raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 10th. Finally, Raymond James upped their target price on Suncor Energy from C$57.00 to C$58.00 and gave the company a “market perform” rating in a research note on Friday, February 7th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$62.96.

Suncor Energy Stock Performance

SU opened at C$53.72 on Wednesday. The stock has a market cap of C$67.38 billion, a P/E ratio of 8.48, a P/E/G ratio of 0.15 and a beta of 1.47. The company has a debt-to-equity ratio of 33.35, a current ratio of 1.59 and a quick ratio of 0.83. The stock’s 50 day simple moving average is C$54.86 and its 200 day simple moving average is C$53.76. Suncor Energy has a 1-year low of C$48.41 and a 1-year high of C$58.58.

Suncor Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 25th will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date is Tuesday, March 4th. Suncor Energy’s dividend payout ratio is presently 34.42%.

About Suncor Energy

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.