Suncor Energy (TSE:SU) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Suncor Energy (TSE:SU) (NYSE:SU) had its target price lifted by JPMorgan Chase & Co. from C$59.00 to C$61.00 in a report released on Friday morning,BayStreet.CA reports.

A number of other brokerages have also weighed in on SU. Jefferies Financial Group dropped their price objective on shares of Suncor Energy from C$62.00 to C$55.00 and set a “hold” rating on the stock in a report on Monday, September 16th. Wells Fargo & Company decreased their price objective on shares of Suncor Energy from C$66.00 to C$64.00 in a research report on Monday, December 9th. Desjardins raised shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a report on Thursday, November 14th. National Bankshares increased their target price on Suncor Energy from C$73.00 to C$76.00 in a report on Thursday, November 14th. Finally, Royal Bank of Canada raised their price target on shares of Suncor Energy from C$64.00 to C$66.00 in a research note on Thursday, November 14th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$62.75.

Suncor Energy Trading Down 1.0 %

Suncor Energy stock opened at C$52.37 on Friday. The stock has a market cap of C$66.51 billion, a PE ratio of 9.00, a price-to-earnings-growth ratio of 0.15 and a beta of 1.47. The company has a debt-to-equity ratio of 34.98, a quick ratio of 0.83 and a current ratio of 1.46. The stock has a 50-day moving average of C$54.62 and a two-hundred day moving average of C$53.33. Suncor Energy has a one year low of C$41.30 and a one year high of C$58.28.

Suncor Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 24th will be given a dividend of $0.57 per share. The ex-dividend date is Tuesday, December 3rd. This is a boost from Suncor Energy’s previous quarterly dividend of $0.55. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.35%. Suncor Energy’s dividend payout ratio (DPR) is currently 37.46%.

Insiders Place Their Bets

In other Suncor Energy news, Senior Officer Kristopher Peter Smith sold 105,000 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of C$57.10, for a total value of C$5,995,185.00. Also, Senior Officer Shelley Powell sold 50,000 shares of Suncor Energy stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of C$56.87, for a total transaction of C$2,843,700.00. 0.01% of the stock is owned by insiders.

Suncor Energy Company Profile

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.