Suncor Energy (TSE:SU) Stock Price Passes Above 200-Day Moving Average – Here’s Why

Suncor Energy Inc. (TSE:SU) (NYSE:SU) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$53.83 and traded as high as C$56.27. Suncor Energy shares last traded at C$55.72, with a volume of 4,995,891 shares changing hands.

Wall Street Analyst Weigh In

Several research firms have recently commented on SU. Desjardins dropped their price objective on shares of Suncor Energy from C$68.50 to C$65.00 and set a “buy” rating on the stock in a report on Wednesday, March 19th. Royal Bank of Canada dropped their price objective on shares of Suncor Energy from C$66.00 to C$65.00 in a research note on Tuesday, January 14th. Tudor Pickering upgraded shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 10th. Scotiabank raised shares of Suncor Energy to a “hold” rating in a research note on Wednesday, March 19th. Finally, Wells Fargo & Company cut their price target on Suncor Energy from C$66.00 to C$64.00 in a research note on Monday, December 9th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$62.96.

Suncor Energy Trading Up 0.3 %

The company has a quick ratio of 0.83, a current ratio of 1.59 and a debt-to-equity ratio of 33.35. The business has a 50-day simple moving average of C$54.65 and a 200-day simple moving average of C$53.87. The company has a market cap of C$70.34 billion, a PE ratio of 8.86, a price-to-earnings-growth ratio of 0.15 and a beta of 1.47.

Suncor Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 25th were paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend was Tuesday, March 4th. Suncor Energy’s payout ratio is currently 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.