Suncor Energy Inc. (TSE:SU) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• Suncor Energy Inc. has an average recommendation of "Moderate Buy" from 12 research firms, with a 12-month price target of C$63.00.
• The company announced a quarterly dividend of $0.57, representing a 4.1% yield and a payout ratio of 49.67%.
• Suncor Energy's stock has recently seen price adjustments from various analysts, with notable increases in target prices from firms like Desjardins and Wells Fargo.

Suncor Energy Inc. (TSE:SU - Get Free Report) NYSE: SU has earned an average recommendation of "Moderate Buy" from the twelve research firms that are presently covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is C$63.00.

A number of analysts have recently commented on SU shares. Desjardins boosted their price target on Suncor Energy from C$64.00 to C$65.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Wells Fargo & Company lifted their price objective on Suncor Energy from C$59.00 to C$60.00 and gave the company an "overweight" rating in a research note on Thursday, June 26th. TD Securities boosted their target price on Suncor Energy from C$62.00 to C$63.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. ATB Capital increased their target price on Suncor Energy from C$60.00 to C$62.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 7th. Finally, Jefferies Financial Group raised their price target on Suncor Energy from C$53.00 to C$57.00 in a report on Monday, August 18th.

Insider Activity

In other news, Senior Officer Jacqueline Sue Moore sold 25,585 shares of the stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of C$55.99, for a total transaction of C$1,432,478.57. Corporate insiders own 0.01% of the company's stock.

Suncor Energy Stock Down 0.9%

Shares of Suncor Energy stock opened at C$55.59 on Friday. The company has a debt-to-equity ratio of 33.35, a current ratio of 1.59 and a quick ratio of 0.83. The company has a 50-day moving average of C$54.04 and a 200 day moving average of C$52.20. The firm has a market cap of C$68.24 billion, a price-to-earnings ratio of 12.24, a PEG ratio of 0.15 and a beta of 0.84. Suncor Energy has a 1 year low of C$43.59 and a 1 year high of C$58.58.

Suncor Energy (TSE:SU - Get Free Report) NYSE: SU last posted its quarterly earnings data on Tuesday, August 5th. The company reported C$0.71 EPS for the quarter. Suncor Energy had a net margin of 15.15% and a return on equity of 18.10%. As a group, sell-side analysts anticipate that Suncor Energy will post 4.4208333 earnings per share for the current fiscal year.

Suncor Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 25th will be issued a $0.57 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $2.28 annualized dividend and a yield of 4.1%. Suncor Energy's payout ratio is 49.67%.

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.

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