Suncor Energy (TSE:SU) Given New C$62.00 Price Target at Scotiabank

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

A number of other brokerages have also recently issued reports on SU. Desjardins increased their price objective on Suncor Energy from C$56.00 to C$59.00 and gave the stock a “hold” rating in a report on Tuesday, July 23rd. BMO Capital Markets upgraded shares of Suncor Energy from a “market perform” rating to an “outperform” rating and set a C$62.00 price objective for the company in a research report on Wednesday, August 7th. Raymond James set a C$52.00 price objective on shares of Suncor Energy in a research note on Tuesday, October 15th. TD Securities increased their target price on shares of Suncor Energy from C$60.00 to C$62.00 in a research note on Wednesday. Finally, Wolfe Research raised shares of Suncor Energy to a “strong-buy” rating in a report on Thursday, July 18th. Six research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$60.79.

Suncor Energy Trading Up 4.2 %

Shares of SU stock opened at C$55.40 on Wednesday. The stock has a market capitalization of C$70.36 billion, a price-to-earnings ratio of 9.52, a PEG ratio of 0.15 and a beta of 1.47. The company’s fifty day simple moving average is C$52.49 and its two-hundred day simple moving average is C$53.06. Suncor Energy has a 1 year low of C$40.07 and a 1 year high of C$57.32. The company has a debt-to-equity ratio of 34.98, a current ratio of 1.46 and a quick ratio of 0.83.

Suncor Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 25th were paid a $0.545 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $2.18 dividend on an annualized basis and a yield of 3.94%. Suncor Energy’s dividend payout ratio is presently 37.46%.

Insider Buying and Selling at Suncor Energy

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