Suncor Energy (TSE:SU) Given New C$89.00 Price Target at Royal Bank Of Canada

Suncor Energy (TSE:SU) (NYSE:SU) had its price objective increased by Royal Bank Of Canada from C$75.00 to C$89.00 in a research report sent to investors on Wednesday morning,BayStreet.CA reports.

A number of other research firms have also issued reports on SU. BMO Capital Markets boosted their target price on Suncor Energy from C$69.00 to C$85.00 and gave the company an “outperform” rating in a report on Wednesday, February 4th. Wells Fargo & Company lifted their price objective on shares of Suncor Energy from C$74.00 to C$97.00 in a research report on Wednesday. Scotiabank boosted their price objective on shares of Suncor Energy from C$80.00 to C$85.00 in a research note on Wednesday. Raymond James Financial upped their price objective on shares of Suncor Energy from C$76.00 to C$93.00 in a research report on Monday. Finally, ATB Cormark Capital Markets raised their target price on shares of Suncor Energy from C$71.00 to C$95.00 and gave the stock a “sector perform” rating in a research note on Friday, March 27th. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$87.86.

Suncor Energy Stock Performance

TSE SU opened at C$90.29 on Wednesday. The firm has a market cap of C$107.17 billion, a P/E ratio of 18.62, a P/E/G ratio of 0.15 and a beta of 0.75. Suncor Energy has a 52-week low of C$43.59 and a 52-week high of C$94.34. The business’s 50-day moving average price is C$78.71 and its 200 day moving average price is C$66.54. The company has a quick ratio of 0.83, a current ratio of 1.39 and a debt-to-equity ratio of 40.74.

Suncor Energy (TSE:SU) (NYSE:SU) last posted its quarterly earnings data on Tuesday, February 3rd. The company reported C$1.10 EPS for the quarter. Suncor Energy had a return on equity of 13.17% and a net margin of 12.10%.The firm had revenue of C$12.04 billion during the quarter. On average, equities research analysts expect that Suncor Energy will post 4.4208333 earnings per share for the current year.

Suncor Energy Announces Dividend

The firm also recently announced 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. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Wednesday, March 4th. Suncor Energy’s dividend payout ratio is 47.63%.

Key Stories Impacting Suncor Energy

Here are the key news stories impacting Suncor Energy this week:

• Positive Sentiment: BMO Capital Markets raised its price target to C$100, signaling stronger earnings/valuation expectations from a major bank. BMO target raise
• Positive Sentiment: Wells Fargo lifted its target to C$97, another sizable upgrade supporting upside versus recent levels. Wells Fargo target raise TickerReport Item
• Positive Sentiment: TD Securities raised its target to C$91 and now has a “buy” rating — incremental buying support from a large dealer. TD Securities rating
• Positive Sentiment: National Bank Financial bumped its target sharply to C$118 and assigned an “outperform” — the most bullish analyst call and a material upside thesis for investors. National Bank target raise
• Positive Sentiment: Raymond James reiterated/updated a positive view and media coverage notes SU reached a new 52?week high after analyst upgrades, reflecting strong recent momentum. Raymond James coverage 52-week high note
• Neutral Sentiment: BNN Bloomberg reports Suncor has increased its production plan — positive for long?term volume but may require capital allocation choices; investors should watch production timing and capex guidance. BNNBloomberg article
• Neutral Sentiment: Industry coverage notes Suncor is “doubling down” on in?situ thermal projects as output from a base plant/mine runs down — signals a strategic shift that may boost long?term resource life but could raise near?term execution and capex risk. WealthProfessional article
• Negative Sentiment: Scotiabank’s new target (C$85) implies downside versus recent trade, which could cap the stock for investors who follow that house. Scotiabank target
• Negative Sentiment: RBC’s target at C$89 sits marginally below recent prices, offering a more cautious signal from another large bank. RBC target

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.