Suncor Energy (TSE:SU) Upgraded by BMO Capital Markets to “Outperform”

BMO Capital Markets upgraded shares of Suncor Energy (TSE:SU) (NYSE:SU) from a market perform rating to an outperform rating in a report released on Wednesday, Marketbeat.com reports. They currently have C$62.00 target price on the stock.

A number of other equities research analysts have also recently issued reports on the stock. Scotiabank decreased their price target on shares of Suncor Energy from C$61.00 to C$60.00 in a report on Friday, July 12th. National Bankshares upped their price objective on shares of Suncor Energy from C$75.00 to C$79.00 and gave the company an outperform rating in a research report on Wednesday, May 22nd. TD Securities raised Suncor Energy from a hold rating to a buy rating and set a C$59.00 target price on the stock in a research report on Wednesday. Wells Fargo & Company upped their price target on Suncor Energy from C$61.00 to C$66.00 and gave the company an overweight rating in a report on Wednesday, May 22nd. Finally, CIBC lifted their price objective on Suncor Energy from C$60.00 to C$65.00 and gave the stock an outperform rating in a report on Monday, April 22nd. Six equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of C$61.96.

Suncor Energy Stock Performance

Shares of SU stock opened at C$54.48 on Wednesday. The stock’s 50-day moving average is C$52.24 and its two-hundred day moving average is C$50.49. Suncor Energy has a fifty-two week low of C$40.07 and a fifty-two week high of C$56.69. The firm has a market cap of C$69.73 billion, a P/E ratio of 8.98, a PEG ratio of 0.15 and a beta of 1.50. The company has a debt-to-equity ratio of 36.00, a current ratio of 1.51 and a quick ratio of 0.83.

Suncor Energy (TSE:SU) (NYSE:SU) last posted its earnings results on Tuesday, May 7th. The company reported C$1.41 earnings per share for the quarter, beating the consensus estimate of C$1.23 by C$0.18. The company had revenue of C$12.53 billion for the quarter, compared to analyst estimates of C$11.81 billion. Suncor Energy had a return on equity of 18.64% and a net margin of 15.85%. Analysts predict that Suncor Energy will post 5.7081192 earnings per share for the current fiscal year.

Suncor Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th will be issued a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date of this dividend is Wednesday, September 4th. Suncor Energy’s dividend payout ratio is presently 35.91%.

Insider Transactions at Suncor Energy

In related news, Senior Officer Kristopher Peter Smith sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of C$51.66, for a total transaction of C$5,165,900.00. 0.01% of the stock is owned by corporate insiders.

About Suncor Energy

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.