Suncor Energy Inc. (TSE:SU) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Suncor Energy Inc. (TSE:SU) (NYSE:SU) have earned an average recommendation of “Moderate Buy” from the twelve analysts that are currently covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is C$62.96.

Several equities research analysts have recently weighed in on SU shares. Raymond James boosted their target price on shares of Suncor Energy from C$52.00 to C$56.00 in a research report on Thursday, November 14th. Royal Bank of Canada boosted their target price on shares of Suncor Energy from C$64.00 to C$66.00 in a research note on Thursday, November 14th. Jefferies Financial Group reduced 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 research note on Monday, September 16th. Wells Fargo & Company reduced their target price on shares of Suncor Energy from C$66.00 to C$64.00 in a research note on Monday. Finally, Scotiabank boosted their target price on shares of Suncor Energy from C$59.00 to C$62.00 in a research note on Wednesday, November 13th.

Suncor Energy Trading Down 0.9 %

Shares of Suncor Energy stock opened at C$53.67 on Wednesday. The company has a current ratio of 1.46, a quick ratio of 0.83 and a debt-to-equity ratio of 34.98. The company has a 50-day moving average of C$54.55 and a two-hundred day moving average of C$53.38. Suncor Energy has a 12-month low of C$40.07 and a 12-month high of C$58.28. The stock has a market cap of C$68.16 billion, a PE ratio of 9.22, a price-to-earnings-growth ratio of 0.15 and a beta of 1.47.

Suncor Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 24th will be paid a $0.57 dividend. This is an increase from Suncor Energy’s previous quarterly dividend of $0.55. This represents a $2.28 annualized dividend and a yield of 4.25%. The ex-dividend date of this dividend is Tuesday, December 3rd. Suncor Energy’s payout ratio is 37.46%.

Insider Transactions at Suncor Energy

In other news, Senior Officer Shelley Powell sold 50,000 shares of the stock in a transaction on Thursday, November 14th. The shares were sold at an average price of C$56.87, for a total value of C$2,843,700.00. Also, Senior Officer Kristopher Peter Smith sold 105,000 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of C$57.10, for a total transaction of C$5,995,185.00. 0.01% of the stock is currently owned by insiders.

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.