Brokerages Set Suncor Energy Inc. (TSE:SU) Target Price at C$62.54

Suncor Energy Inc. (TSE:SU) (NYSE:SU) has been assigned a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are currently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is C$62.54.

A number of research analysts recently weighed in on the stock. National Bankshares lifted their price objective on shares of Suncor Energy from C$65.00 to C$68.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Raymond James lifted their price objective on shares of Suncor Energy from C$57.00 to C$58.00 and gave the company a “market perform” rating in a report on Friday, February 7th. Wells Fargo & Company dropped their price objective on shares of Suncor Energy from C$66.00 to C$64.00 in a report on Monday, December 9th. Jefferies Financial Group lifted their price objective on shares of Suncor Energy from C$54.00 to C$58.00 in a report on Thursday, January 30th. Finally, Royal Bank of Canada lowered their price target on shares of Suncor Energy from C$66.00 to C$65.00 in a report on Tuesday, January 14th.

Suncor Energy Trading Down 1.3 %

Shares of SU stock opened at C$56.19 on Monday. The company has a debt-to-equity ratio of 33.35, a quick ratio of 0.83 and a current ratio of 1.59. The stock has a market capitalization of C$70.48 billion, a P/E ratio of 8.87, a price-to-earnings-growth ratio of 0.15 and a beta of 1.47. The company has a 50 day moving average price of C$54.49 and a 200 day moving average price of C$53.99. Suncor Energy has a fifty-two week low of C$44.92 and a fifty-two week high of C$58.58.

Suncor Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 24th. Investors of record on Tuesday, December 24th were given a $0.57 dividend. This is an increase from Suncor Energy’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $2.28 annualized dividend and a yield of 4.06%. Suncor Energy’s dividend payout ratio is 34.42%.

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.