Suncor Energy (TSE:SU) Shares Cross Above Two Hundred Day Moving Average – What’s Next?

Suncor Energy Inc. (TSE:SU) (NYSE:SU) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$53.71 and traded as high as C$56.66. Suncor Energy shares last traded at C$54.99, with a volume of 12,944,349 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SU. JPMorgan Chase & Co. upped their target price on shares of Suncor Energy from C$59.00 to C$61.00 in a research report on Friday, December 13th. Royal Bank of Canada dropped their price target on shares of Suncor Energy from C$66.00 to C$65.00 in a research note on Tuesday, January 14th. TD Securities raised their price target on Suncor Energy from C$60.00 to C$62.00 in a research note on Wednesday, November 13th. Raymond James lifted their target price on Suncor Energy from C$57.00 to C$58.00 and gave the company a “market perform” rating in a research report on Friday. Finally, Scotiabank increased their price objective on shares of Suncor Energy from C$59.00 to C$62.00 in a report on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$62.54.

Suncor Energy Price Performance

The stock has a 50-day moving average price of C$53.97 and a two-hundred day moving average price of C$53.74. 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 stock has a market cap of C$70.28 billion, a price-to-earnings ratio of 9.51, a PEG ratio of 0.15 and a beta of 1.47.

Suncor Energy (TSE:SU) (NYSE:SU) last released its quarterly earnings data on Tuesday, November 12th. The company reported C$1.48 earnings per share for the quarter, beating analysts’ consensus estimates of C$1.10 by C$0.38. Suncor Energy had a return on equity of 17.68% and a net margin of 14.87%. During the same quarter last year, the company posted $1.52 earnings per share. As a group, equities research analysts forecast that Suncor Energy Inc. will post 4.4208333 EPS for the current year.

Suncor Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 24th were paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 4.12%. The ex-dividend date was Tuesday, December 3rd. This is a boost from Suncor Energy’s previous quarterly dividend of $0.55. Suncor Energy’s payout ratio is 37.46%.

Insider Activity at Suncor Energy

In related news, Senior Officer Kristopher Peter Smith sold 105,000 shares of Suncor Energy stock in a transaction that occurred on Monday, November 18th. The shares were 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 firm’s stock in a transaction that occurred 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. 0.01% of the stock is owned by corporate 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.