Suncor Energy (TSE:SU) Given New C$56.00 Price Target at Raymond James

Suncor Energy (TSE:SU) (NYSE:SU) had its target price raised by Raymond James from C$52.00 to C$56.00 in a report released 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.

A number of other equities research analysts have also commented on the company. Desjardins upped their price target on Suncor Energy from C$56.00 to C$59.00 and gave the company a “hold” rating in a research report on Tuesday, July 23rd. Royal Bank of Canada upped their target price on Suncor Energy from C$64.00 to C$66.00 in a research report on Thursday. National Bankshares cut their target price on Suncor Energy from C$77.00 to C$73.00 in a research report on Friday, September 27th. Scotiabank increased their price target on Suncor Energy from C$59.00 to C$62.00 in a report on Wednesday. Finally, BMO Capital Markets upgraded Suncor Energy from a “market perform” rating to an “outperform” rating and set a C$62.00 price target on the stock in a report on Wednesday, August 7th. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$61.54.

Suncor Energy Price Performance

Shares of Suncor Energy stock traded down C$0.14 during trading on Thursday, reaching C$56.70. 1,439,860 shares of the company’s stock were exchanged, compared to its average volume of 7,818,309. The company has a debt-to-equity ratio of 34.98, a quick ratio of 0.83 and a current ratio of 1.46. Suncor Energy has a 1-year low of C$40.07 and a 1-year high of C$57.50. The company has a market cap of C$72.01 billion, a P/E ratio of 9.82, a PEG ratio of 0.15 and a beta of 1.47. The firm’s 50-day moving average price is C$52.61 and its 200 day moving average price is C$53.10.

Suncor Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 25th were issued a $0.545 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $2.18 annualized dividend and a dividend yield of 3.84%. Suncor Energy’s dividend payout ratio is currently 37.46%.

Insider Activity at Suncor Energy

In other Suncor Energy news, Senior Officer Jacqueline Sue Moore sold 37,700 shares of Suncor Energy 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 transaction of C$2,131,558.00. 0.01% of the stock is 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.