Suncor Energy (TSE:SU) Shares Cross Above Two Hundred Day Moving Average - Here's Why

Key Points

• Suncor's stock crossed above its 200‑day moving average, trading last at C$89.13 versus a 200‑day MA of C$70.65 (50‑day MA C$84.58) with an intraday high of C$89.92.
• Analysts have been lifting targets and ratings — eight Buys and three Holds give an average consensus of “Moderate Buy” with an average target of C$93.06 (recent targets raised by TD, BMO, Jefferies and others).
• Fundamentals and shareholder return: market cap C$105.8B, P/E 18.38 with last quarter EPS C$1.10, and an annualized dividend of C$2.40 (yield ~2.7%, DPR ~47.6%).

Suncor Energy Inc. (TSE:SU - Get Free Report) NYSE: SU's stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$70.65 and traded as high as C$89.92. Suncor Energy shares last traded at C$89.13, with a volume of 2,743,610 shares.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SU. Jefferies Financial Group increased their price target on Suncor Energy from C$66.00 to C$82.00 in a research note on Monday, March 16th. TD Securities boosted their price objective on Suncor Energy from C$81.00 to C$91.00 and gave the stock a "buy" rating in a research note on Wednesday, April 1st. Scotiabank upped their price objective on Suncor Energy from C$80.00 to C$85.00 in a report on Wednesday, April 1st. BMO Capital Markets raised their target price on Suncor Energy from C$85.00 to C$100.00 in a research note on Wednesday, April 1st. Finally, Scotia lifted their target price on Suncor Energy from C$85.00 to C$90.00 and gave the stock a "sector perform" rating in a report on Tuesday, April 21st. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of C$93.06.

Suncor Energy Price Performance

The company has a current ratio of 1.39, a quick ratio of 0.83 and a debt-to-equity ratio of 40.74. The stock has a 50-day simple moving average of C$84.58 and a 200 day simple moving average of C$70.65. The stock has a market capitalization of C$105.79 billion, a price-to-earnings ratio of 18.38, a price-to-earnings-growth ratio of 0.15 and a beta of 0.23.

Suncor Energy (TSE:SU - Get Free Report) NYSE: SU last posted its quarterly earnings results on Tuesday, February 3rd. The company reported C$1.10 EPS for the quarter. Suncor Energy had a net margin of 12.10% and a return on equity of 13.17%. The business had revenue of C$12.04 billion for the quarter. On average, equities research analysts forecast that Suncor Energy Inc. will post 4.4208333 EPS for the current fiscal year.

Suncor Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 25th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Wednesday, March 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.7%. Suncor Energy's dividend payout ratio (DPR) is 47.63%.

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. It also conducts energy trading activities focused principally on the marketing and trading of crude oil, natural gas, byproducts, refined products and power.

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