Suncor Energy (TSE:SU) Given New C$52.00 Price Target at Raymond James

Suncor Energy (TSE:SU) (NYSE:SU) had its price target lifted by Raymond James from C$51.00 to C$52.00 in a report published on Thursday, BayStreet.CA reports. Raymond James currently has a market perform rating on the stock. Raymond James also issued estimates for Suncor Energy’s FY2024 earnings at $5.02 EPS, FY2025 earnings at $4.72 EPS, FY2026 earnings at $4.20 EPS and FY2027 earnings at $4.20 EPS.

Other research analysts have also issued reports about the stock. Wells Fargo & Company lifted their price objective on shares of Suncor Energy from C$61.00 to C$66.00 and gave the company an overweight rating in a research note on Wednesday, May 22nd. TD Securities upgraded shares of Suncor Energy from a hold rating to a buy rating and set a C$59.00 price objective on the stock in a research note on Wednesday, August 7th. ATB Capital lifted their price objective on shares of Suncor Energy from C$53.00 to C$57.50 and gave the company a sector perform rating in a research note on Wednesday, May 22nd. Desjardins lifted their price objective on shares of Suncor Energy from C$56.00 to C$59.00 and gave the company a hold rating in a research note on Tuesday, July 23rd. Finally, Royal Bank of Canada lifted their price objective on shares of Suncor Energy from C$65.00 to C$67.00 in a research note on Thursday. Six research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of C$61.96.

Suncor Energy Price Performance

Shares of SU opened at C$54.48 on Thursday. The firm’s fifty day simple moving average is C$52.24 and its 200-day simple moving average is C$50.60. Suncor Energy has a twelve month low of C$40.07 and a twelve month high of C$56.69. The company has a current ratio of 1.51, a quick ratio of 0.83 and a debt-to-equity ratio of 36.00. The firm has a market capitalization of C$69.73 billion, a price-to-earnings ratio of 8.98, a PEG ratio of 0.15 and a beta of 1.50.

Suncor Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be given a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date of this dividend is Wednesday, September 4th. Suncor Energy’s dividend payout ratio is presently 35.91%.

Insider Activity

In related news, Senior Officer Kristopher Peter Smith sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of C$51.66, for a total transaction of C$5,165,900.00. Company insiders own 0.01% of the company’s stock.

Suncor Energy Company Profile

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.