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

Suncor Energy (TSE:SU) (NYSE:SU) had its price target hoisted by Jefferies Financial Group from C$58.00 to C$59.00 in a research report released on Monday,BayStreet.CA reports.

SU has been the subject of a number of other research reports. Wells Fargo & Company cut their price objective on Suncor Energy from C$66.00 to C$64.00 in a research report on Monday, December 9th. National Bankshares lifted their target price on Suncor Energy from C$65.00 to C$68.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. upped their price objective on Suncor Energy from C$59.00 to C$61.00 in a research note on Friday, December 13th. Gerdes Energy Research set a C$69.00 price objective on shares of Suncor Energy and gave the company a “buy” rating in a report on Monday, November 25th. Finally, Raymond James raised their price target on shares of Suncor Energy from C$57.00 to C$58.00 and gave the stock a “market perform” rating in a research report on Friday, February 7th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Suncor Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of C$62.61.

Suncor Energy Price Performance

Shares of TSE:SU opened at C$55.79 on Monday. 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 firm’s 50 day simple moving average is C$54.57 and its two-hundred day simple moving average is C$54.00. The company has a market capitalization of C$69.97 billion, a P/E ratio of 8.81, a P/E/G ratio of 0.15 and a beta of 1.47. Suncor Energy has a 1-year low of C$45.12 and a 1-year high of C$58.58.

Suncor Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 24th were issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 4.09%. The ex-dividend date was Tuesday, December 3rd. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.55. 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.