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

Suncor Energy (TSE:SU) (NYSE:SU) had its price objective increased by Raymond James from C$52.00 to C$56.00 in a research note issued to investors 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.

Several other research firms have also commented on SU. TD Securities upped their price objective on Suncor Energy from C$60.00 to C$62.00 in a research note on Wednesday. Jefferies Financial Group dropped 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 report on Monday, September 16th. Scotiabank upped their target price on shares of Suncor Energy from C$59.00 to C$62.00 in a report on Wednesday. BMO Capital Markets raised shares of Suncor Energy from a “market perform” rating to an “outperform” rating and set a C$62.00 target price for the company in a report on Wednesday, August 7th. Finally, Royal Bank of Canada upped their target price on shares of Suncor Energy from C$64.00 to C$66.00 in a report on Thursday. Five equities 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’s stock. Based on data from MarketBeat, Suncor Energy has a consensus rating of “Moderate Buy” and an average price target of C$61.54.

Suncor Energy Stock Performance

Shares of TSE:SU traded down C$0.14 during midday trading on Thursday, hitting C$56.70. The company had a trading volume of 1,439,860 shares, compared to its average volume of 7,818,309. The company has a debt-to-equity ratio of 34.98, a current ratio of 1.46 and a quick ratio of 0.83. The company has a market cap of C$72.01 billion, a price-to-earnings ratio of 9.82, a PEG ratio of 0.15 and a beta of 1.47. Suncor Energy has a 12-month low of C$40.07 and a 12-month high of C$57.50. The company has a fifty day moving average of C$52.61 and a two-hundred day moving average of C$53.10.

Suncor Energy Dividend Announcement

The firm 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 3.84%. The ex-dividend date was Wednesday, September 4th. Suncor Energy’s payout ratio is 37.46%.

Insider Buying and Selling

In related news, Senior Officer Jacqueline Sue Moore sold 37,700 shares of Suncor Energy stock in a transaction dated 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. 0.01% of the stock is currently owned by company insiders.

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.