Suncor Energy (TSE:SU) Price Target Raised to C$56.00

Suncor Energy (TSE:SU) (NYSE:SU) had its price target lifted by Raymond James from C$52.00 to C$56.00 in a research note released on Thursday morning,BayStreet.CA reports. Raymond James also issued estimates for Suncor Energy’s FY2024 earnings at $5.29 EPS, FY2025 earnings at $4.86 EPS and FY2028 earnings at $4.51 EPS.

Other analysts have also issued research reports about the company. National Bankshares lowered their target price on Suncor Energy from C$77.00 to C$73.00 in a report on Friday, September 27th. Royal Bank of Canada increased their price target on shares of Suncor Energy from C$64.00 to C$66.00 in a report on Thursday. TD Securities boosted their price objective on shares of Suncor Energy from C$60.00 to C$62.00 in a report on Wednesday, November 13th. Wolfe Research upgraded Suncor Energy to a “strong-buy” rating in a research note on Thursday, July 18th. Finally, Desjardins raised their price objective on Suncor Energy from C$56.00 to C$59.00 and gave the stock a “hold” rating in a research report on Tuesday, July 23rd. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$61.54.

Suncor Energy Trading Up 0.3 %

Shares of TSE:SU opened at C$57.00 on Thursday. 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 50-day moving average is C$52.72 and its 200-day moving average is C$53.12. The company has a market cap of C$72.39 billion, a P/E ratio of 9.79, a P/E/G ratio of 0.15 and a beta of 1.47. Suncor Energy has a 52-week low of C$40.07 and a 52-week high of C$57.50.

Suncor Energy Announces Dividend

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

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.