Royal Bank of Canada Issues Positive Forecast for Suncor Energy (TSE:SU) Stock Price

Suncor Energy (TSE:SU) (NYSE:SU) had its price objective boosted by Royal Bank of Canada from C$64.00 to C$66.00 in a research note published on Thursday morning,BayStreet.CA reports.

A number of other research analysts have also issued reports on SU. Jefferies Financial Group reduced their target price on shares of Suncor Energy from C$62.00 to C$55.00 and set a “hold” rating for the company in a research note on Monday, September 16th. National Bankshares reduced their price objective on Suncor Energy from C$77.00 to C$73.00 in a research report on Friday, September 27th. TD Securities raised their target price on Suncor Energy from C$60.00 to C$62.00 in a research report on Wednesday. Raymond James set a C$52.00 price target on Suncor Energy in a research report on Tuesday, October 15th. Finally, BMO Capital Markets raised Suncor Energy from a “market perform” rating to an “outperform” rating and set a C$62.00 price target on the stock in a report on Wednesday, August 7th. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Suncor Energy currently has an average rating of “Moderate Buy” and an average target price of C$61.54.

Suncor Energy Stock Performance

SU stock opened at C$57.00 on Thursday. Suncor Energy has a 1 year low of C$40.07 and a 1 year high of C$57.50. The stock has a market capitalization of C$72.39 billion, a price-to-earnings ratio of 9.79, a PEG 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’s fifty day moving average is C$52.72 and its two-hundred day moving average is C$53.12.

Suncor Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 25th were given a $0.545 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $2.18 annualized dividend and a yield of 3.82%. Suncor Energy’s dividend payout ratio (DPR) is 37.46%.

Insider Activity

In other Suncor Energy news, Senior Officer Jacqueline Sue Moore sold 37,700 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of C$56.54, for a total transaction of C$2,131,558.00. 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.