Scotiabank Issues Positive Forecast for Suncor Energy (TSE:SU) Stock Price

Suncor Energy (TSE:SU) (NYSE:SU) had its price objective lifted by Scotiabank from C$59.00 to C$62.00 in a report released on Wednesday,BayStreet.CA reports.

A number of other equities research analysts have also weighed in on SU. TD Securities boosted their target price on shares of Suncor Energy from C$60.00 to C$62.00 in a report on Wednesday. Desjardins boosted their price objective on shares of Suncor Energy from C$56.00 to C$59.00 and gave the stock a “hold” rating in a research note on Tuesday, July 23rd. BMO Capital Markets raised Suncor Energy from a “market perform” rating to an “outperform” rating and set a C$62.00 target price for the company in a research report on Wednesday, August 7th. Jefferies Financial Group cut their target price on 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. Finally, National Bankshares decreased their price target on Suncor Energy from C$77.00 to C$73.00 in a research note on Friday, September 27th. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$61.54.

Suncor Energy Price Performance

Suncor Energy stock opened at C$57.00 on Wednesday. The stock has a 50-day moving average price of C$52.61 and a two-hundred day moving average price of C$53.10. Suncor Energy has a 12 month low of C$40.07 and a 12 month high of C$57.50. The company has a market capitalization of C$72.39 billion, a PE ratio of 9.82, a P/E/G ratio of 0.15 and a beta of 1.47. The company has a current ratio of 1.46, a quick ratio of 0.83 and a debt-to-equity ratio of 34.98.

Suncor Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 25th were issued a dividend of $0.545 per share. The ex-dividend date was Wednesday, September 4th. This represents a $2.18 annualized dividend and a dividend yield of 3.82%. Suncor Energy’s dividend payout ratio is currently 37.46%.

Insiders Place Their Bets

In related news, Senior Officer Jacqueline Sue Moore sold 37,700 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of C$56.54, for a total value of C$2,131,558.00. Corporate insiders own 0.01% of the company’s stock.

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.