Suncor Energy (TSE:SU) Price Target Raised to C$61.00 at JPMorgan Chase & Co.

Suncor Energy (TSE:SU) (NYSE:SU) had its target price raised by JPMorgan Chase & Co. from C$59.00 to C$61.00 in a research report sent to investors on Friday morning,BayStreet.CA reports.

Several other equities analysts have also issued reports on the stock. Royal Bank of Canada boosted their price target on shares of Suncor Energy from C$64.00 to C$66.00 in a report on Thursday, November 14th. Raymond James lowered their price target on Suncor Energy from C$56.00 to C$55.00 in a report on Friday. Scotiabank lifted their price objective on Suncor Energy from C$59.00 to C$62.00 in a report on Wednesday, November 13th. Gerdes Energy Research set a C$69.00 target price on Suncor Energy and gave the stock a “buy” rating in a research note on Monday, November 25th. Finally, Desjardins raised shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a research note on Thursday, November 14th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$62.75.

Suncor Energy Stock Performance

Shares of SU stock opened at C$52.37 on Friday. The stock has a 50-day moving average of C$54.62 and a 200-day moving average of C$53.36. Suncor Energy has a one year low of C$41.30 and a one year high of C$58.28. The stock has a market cap of C$66.51 billion, a PE ratio of 9.00, a price-to-earnings-growth ratio of 0.15 and a beta of 1.47. 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 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 24th. Investors of record on Tuesday, December 24th will be given a dividend of $0.57 per share. The ex-dividend date is Tuesday, December 3rd. This is a boost from Suncor Energy’s previous quarterly dividend of $0.55. This represents a $2.28 annualized dividend and a yield of 4.35%. Suncor Energy’s dividend payout ratio is 37.46%.

Insiders Place Their Bets

In other news, Senior Officer Kristopher Peter Smith sold 105,000 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of C$57.10, for a total value of C$5,995,185.00. Also, Senior Officer Shelley Powell sold 50,000 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of C$56.87, for a total transaction of C$2,843,700.00. Insiders own 0.01% of the company’s stock.

About Suncor Energy

Suncor Energy Inc is an integrated energy company. The company’s operations include oil sands development, production and upgrading, offshore oil and gas, petroleum refining in Canada and the U.S. and the company’s PetroCanada retail and wholesale distribution networks. The company is developing petroleum resources while advancing the transition to a low-emissions future through investment in power, renewable fuels and hydrogen.