Suncor Energy (TSE:SU) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Suncor Energy Inc. (TSE:SU) (NYSE:SU)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$53.83 and traded as high as C$56.27. Suncor Energy shares last traded at C$55.72, with a volume of 4,995,891 shares trading hands.

Wall Street Analyst Weigh In

Several research firms have commented on SU. Raymond James boosted their price target on shares of Suncor Energy from C$57.00 to C$58.00 and gave the stock a “market perform” rating in a report on Friday, February 7th. Royal Bank of Canada lowered their target price on shares of Suncor Energy from C$66.00 to C$65.00 in a research note on Tuesday, January 14th. Desjardins cut their price target on Suncor Energy from C$68.50 to C$65.00 and set a “buy” rating on the stock in a research note on Wednesday, March 19th. Jefferies Financial Group lifted their price target on Suncor Energy from C$58.00 to C$59.00 in a report on Monday, February 24th. Finally, TD Securities dropped their price objective on Suncor Energy from C$63.00 to C$61.00 and set a “buy” rating on the stock in a report on Thursday, March 20th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$62.96.

Suncor Energy Stock Performance

The stock has a market cap of C$70.34 billion, a PE ratio of 8.86, a P/E/G ratio of 0.15 and a beta of 1.47. The firm’s 50-day moving average is C$54.65 and its 200 day moving average is C$53.87. The company has a debt-to-equity ratio of 33.35, a quick ratio of 0.83 and a current ratio of 1.59.

Suncor Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 25th were paid a dividend of $0.57 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $2.28 annualized dividend and a dividend yield of 4.07%. Suncor Energy’s dividend payout ratio (DPR) is 34.42%.

Suncor Energy Company Profile

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.