Desjardins Cuts Suncor Energy (TSE:SU) Price Target to C$65.00

Suncor Energy (TSE:SU) (NYSE:SU) had its target price reduced by Desjardins from C$68.50 to C$65.00 in a research report released on Wednesday morning,BayStreet.CA reports. They currently have a buy rating on the stock.

Other equities analysts have also recently issued reports about the company. Raymond James increased their price target on 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. Wells Fargo & Company cut their price target on Suncor Energy from C$66.00 to C$64.00 in a report on Monday, December 9th. Tudor Pickering upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, February 10th. Jefferies Financial Group increased their target price on Suncor Energy from C$58.00 to C$59.00 in a report on Monday, February 24th. Finally, JPMorgan Chase & Co. increased their target price on Suncor Energy from C$59.00 to C$61.00 in a report on Friday, December 13th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of C$62.96.

Suncor Energy Trading Down 0.5 %

Shares of Suncor Energy stock opened at C$53.72 on Wednesday. The firm has a 50-day moving average of C$54.86 and a 200-day moving average of C$53.76. The stock has a market cap of C$67.38 billion, a PE ratio of 8.48, a PEG ratio of 0.15 and a beta of 1.47. Suncor Energy has a 52-week low of C$48.41 and a 52-week high of C$58.58. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 25th will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 4.24%. The ex-dividend date is Tuesday, March 4th. Suncor Energy’s dividend payout ratio (DPR) is presently 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.