Desjardins Upgrades Suncor Energy (TSE:SU) to Moderate Buy

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

SU has been the topic of several other research reports. Scotiabank boosted their target price on shares of Suncor Energy from C$59.00 to C$62.00 in a report on Wednesday. BMO Capital Markets upgraded shares of Suncor Energy from a “market perform” rating to an “outperform” rating and set a C$62.00 price target on the stock in a research note on Wednesday, August 7th. Royal Bank of Canada lifted their target price on Suncor Energy from C$64.00 to C$66.00 in a report on Thursday. Wolfe Research raised Suncor Energy to a “strong-buy” rating in a research note on Thursday, July 18th. Finally, Jefferies Financial Group reduced their price objective on Suncor Energy from C$62.00 to C$55.00 and set a “hold” rating on the stock in a research note on Monday, September 16th. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of C$61.54.

Suncor Energy Stock Up 0.3 %

Shares of SU opened at C$57.00 on Thursday. The business’s 50 day moving average is C$52.72 and its 200 day moving average is C$53.12. The company has a current ratio of 1.46, a quick ratio of 0.83 and a debt-to-equity ratio of 34.98. Suncor Energy has a 12-month low of C$40.07 and a 12-month high of C$57.50. The company has a market capitalization of C$72.39 billion, a PE ratio of 9.79, a price-to-earnings-growth ratio of 0.15 and a beta of 1.47.

Suncor Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 25th were paid a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a yield of 3.82%. The ex-dividend date was Wednesday, September 4th. Suncor Energy’s payout ratio is 37.46%.

Insider Buying and Selling at Suncor Energy

In other Suncor Energy news, Senior Officer Jacqueline Sue Moore sold 37,700 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of C$56.54, for a total value of C$2,131,558.00. Company insiders own 0.01% of the company’s stock.

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.