TD Securities Issues Positive Forecast for Suncor Energy (TSE:SU) Stock Price

Suncor Energy (TSE:SU) (NYSE:SU) had its price objective lifted by TD Securities from C$71.00 to C$73.00 in a report issued on Friday morning,BayStreet.CA reports. The firm currently has a buy rating on the stock.

A number of other research firms have also issued reports on SU. Raymond James Financial raised shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a research note on Thursday, November 6th. JPMorgan Chase & Co. boosted their price objective on Suncor Energy from C$59.00 to C$64.00 in a research report on Thursday, November 6th. Jefferies Financial Group raised their target price on Suncor Energy from C$53.00 to C$57.00 in a research report on Monday, August 18th. Gerdes Energy Research boosted their price target on Suncor Energy from C$75.00 to C$78.00 in a research report on Monday, November 10th. Finally, National Bankshares raised their price target on Suncor Energy from C$65.00 to C$68.00 and gave the company an “outperform” rating in a report on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$65.77.

Suncor Energy Trading Up 0.0%

TSE:SU opened at C$61.01 on Friday. The firm has a market capitalization of C$73.29 billion, a P/E ratio of 14.22, a P/E/G ratio of 0.15 and a beta of 0.75. The business has a 50 day simple moving average of C$58.96 and a 200 day simple moving average of C$56.01. The company has a debt-to-equity ratio of 33.35, a current ratio of 1.59 and a quick ratio of 0.83. Suncor Energy has a 12-month low of C$43.59 and a 12-month high of C$64.14.

Suncor Energy (TSE:SU) (NYSE:SU) last posted its earnings results on Tuesday, November 4th. The company reported C$1.48 earnings per share (EPS) for the quarter. Suncor Energy had a return on equity of 18.10% and a net margin of 15.15%.The company had revenue of C$12.55 billion for the quarter. Equities research analysts predict that Suncor Energy will post 4.4208333 EPS for the current year.

Suncor Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 24th. Shareholders of record on Wednesday, December 24th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Wednesday, December 3rd. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.57. Suncor Energy’s dividend payout ratio is currently 53.15%.

Insider Buying and Selling at Suncor Energy

In other news, insider Kristopher Peter Smith sold 112,600 shares of Suncor Energy stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of C$61.74, for a total value of C$6,951,924.00. Following the transaction, the insider owned 48,482 shares of the company’s stock, valued at C$2,993,278.68. The trade was a 69.90% decrease in their position. Company insiders own 0.01% of the company’s stock.

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.