Suncor Energy (TSE:SU) Releases Earnings Results

Suncor Energy (TSE:SU) (NYSE:SU) issued its earnings results on Tuesday. The company reported C$1.77 earnings per share for the quarter, FiscalAI reports. The company had revenue of C$14.48 billion during the quarter. Suncor Energy had a net margin of 12.10% and a return on equity of 13.17%.

Suncor Energy Price Performance

TSE SU traded up C$1.75 during trading on Tuesday, hitting C$95.05. 7,027,626 shares of the stock traded hands, compared to its average volume of 6,621,063. 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 has a 12-month low of C$46.34 and a 12-month high of C$95.73. The firm has a 50-day simple moving average of C$85.19 and a 200-day simple moving average of C$71.17. The company has a market capitalization of C$112.82 billion, a P/E ratio of 19.60, a price-to-earnings-growth ratio of 0.15 and a beta of 0.23.

Suncor Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 25th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.5%. The ex-dividend date was Wednesday, March 4th. Suncor Energy’s dividend payout ratio (DPR) is currently 47.63%.

Analyst Ratings Changes

Several brokerages have recently commented on SU. Royal Bank Of Canada upped their price objective on Suncor Energy from C$89.00 to C$100.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 8th. Scotia lifted their target price on Suncor Energy from C$85.00 to C$90.00 and gave the company a “sector perform” rating in a research note on Tuesday, April 21st. National Bank Financial boosted their price target on Suncor Energy from C$85.00 to C$118.00 and gave the stock an “outperform” rating in a report on Tuesday, March 31st. ATB Cormark Capital Markets upgraded Suncor Energy from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, April 1st. Finally, Raymond James Financial lifted their price objective on shares of Suncor Energy from C$76.00 to C$93.00 in a research report on Monday, March 30th. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$93.06.

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. It also conducts energy trading activities focused principally on the marketing and trading of crude oil, natural gas, byproducts, refined products and power.