Suncor Energy (TSE:SU) Upgraded to Moderate Buy at Desjardins

Desjardins upgraded shares of Suncor Energy (TSE:SU) (NYSE:SU) from a hold rating to a moderate buy rating in a research report released on Thursday,Zacks.com reports.

A number of other analysts have also commented on the company. BMO Capital Markets raised Suncor Energy from a “market perform” rating to an “outperform” rating and set a C$62.00 target price for the company in a research report on Wednesday, August 7th. Raymond James boosted their price objective on Suncor Energy from C$52.00 to C$56.00 in a report on Thursday. Wolfe Research raised Suncor Energy to a “strong-buy” rating in a report on Thursday, July 18th. Royal Bank of Canada boosted their target price on Suncor Energy from C$64.00 to C$66.00 in a research note on Thursday. Finally, TD Securities boosted their target price on Suncor Energy from C$60.00 to C$62.00 in a research note on Wednesday. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$61.54.

Suncor Energy Price Performance

Shares of TSE SU traded up C$0.01 during mid-day trading on Thursday, hitting C$56.85. 1,214,566 shares of the stock traded hands, compared to its average volume of 7,817,294. 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 has a twelve month low of C$40.07 and a twelve month high of C$57.50. The company has a market cap of C$72.20 billion, a PE ratio of 9.82, a price-to-earnings-growth ratio of 0.15 and a beta of 1.47. The firm has a 50 day simple moving average of C$52.61 and a two-hundred day simple moving average of C$53.10.

Suncor Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 25th were given a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a yield of 3.83%. The ex-dividend date of this dividend was Wednesday, September 4th. Suncor Energy’s dividend payout ratio (DPR) is 37.46%.

Insider Activity at Suncor Energy

In other Suncor Energy news, Senior Officer Jacqueline Sue Moore sold 37,700 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were 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 currently owned by insiders.

Suncor Energy Company Profile

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.