Suncor Energy (TSE:SU) Stock Rating Upgraded by Scotiabank

Scotiabank upgraded shares of Suncor Energy (TSE:SU) (NYSE:SU) to a hold rating in a report published on Wednesday morning,Zacks.com reports.

A number of other analysts have also recently commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of Suncor Energy from C$59.00 to C$61.00 in a research note on Friday, December 13th. Jefferies Financial Group boosted their price target on shares of Suncor Energy from C$58.00 to C$59.00 in a research report on Monday, February 24th. Royal Bank of Canada lowered their price objective on Suncor Energy from C$66.00 to C$65.00 in a research report on Tuesday, January 14th. Gerdes Energy Research set a C$69.00 price target on shares of Suncor Energy and gave the company a “buy” rating in a research report on Monday, November 25th. Finally, TD Securities cut their price objective on Suncor Energy from C$63.00 to C$61.00 and set a “buy” rating on the stock in a report on Thursday. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Suncor Energy has a consensus rating of “Moderate Buy” and a consensus price target of C$62.96.

Suncor Energy Price Performance

Shares of SU opened at C$53.72 on Wednesday. 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 1-year low of C$48.41 and a 1-year high of C$58.58. The firm has a market capitalization of C$67.38 billion, a PE ratio of 8.48, a price-to-earnings-growth ratio of 0.15 and a beta of 1.47. The company’s fifty day moving average price is C$54.86 and its 200-day moving average price is C$53.76.

Suncor Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 25th will be issued a $0.57 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.24%. Suncor Energy’s dividend payout ratio (DPR) is 34.42%.

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.