Suncor Energy (TSE:SU) Shares Pass Above 200 Day Moving Average – What’s Next?

Suncor Energy Inc. (TSE:SU) (NYSE:SU) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$78.52 and traded as high as C$80.42. Suncor Energy shares last traded at C$80.28, with a volume of 6,659,210 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SU. Wells Fargo & Company raised their price objective on shares of Suncor Energy from C$74.00 to C$97.00 in a research report on Wednesday, April 1st. The Goldman Sachs Group downgraded shares of Suncor Energy from a “buy” rating to a “hold” rating in a research report on Friday, June 5th. BMO Capital Markets increased their target price on shares of Suncor Energy from C$85.00 to C$100.00 in a research note on Wednesday, April 1st. ATB Cormark Capital Markets upgraded shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a report on Wednesday, April 1st. Finally, Scotia lifted their price target on shares of 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. Eight analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$93.12.

Suncor Energy Stock Down 0.6%

The company has a quick ratio of 0.83, a current ratio of 1.42 and a debt-to-equity ratio of 32.36. The stock has a 50 day simple moving average of C$87.68 and a 200 day simple moving average of C$78.62. The stock has a market cap of C$91.04 billion, a price-to-earnings ratio of 14.66, a PEG ratio of 0.15 and a beta of 0.14.

Suncor Energy (TSE:SU) (NYSE:SU) last released its quarterly earnings data on Tuesday, May 5th. The company reported C$1.93 EPS for the quarter. Suncor Energy had a return on equity of 14.01% and a net margin of 12.17%.The firm had revenue of C$14.48 billion during the quarter. As a group, analysts expect that Suncor Energy Inc. will post 4.4208333 earnings per share for the current fiscal year.

Suncor Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 25th will be issued a dividend of $0.60 per share. The ex-dividend date is Thursday, June 4th. This represents a $2.40 annualized dividend and a yield of 3.1%. Suncor Energy’s dividend payout ratio is presently 44.49%.

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.