Royal Bank of Canada Forecasts Strong Price Appreciation for Suncor Energy (TSE:SU) Stock

Suncor Energy (TSE:SU) (NYSE:SU) had its target price raised by Royal Bank of Canada from C$64.00 to C$66.00 in a research note issued to investors on Thursday,BayStreet.CA reports.

Several other equities research analysts have also issued reports on the stock. Raymond James set a C$52.00 price objective on shares of Suncor Energy in a research report on Tuesday, October 15th. Scotiabank increased their price target on Suncor Energy from C$59.00 to C$62.00 in a report on Wednesday, November 13th. BMO Capital Markets upgraded Suncor Energy from a “market perform” rating to an “outperform” rating and set a C$62.00 price objective on the stock in a research note on Wednesday, August 7th. Jefferies Financial Group dropped their target price on Suncor Energy from C$62.00 to C$55.00 and set a “hold” rating on the stock in a report on Monday, September 16th. Finally, Wolfe Research upgraded Suncor Energy to a “strong-buy” rating in a report on Thursday, July 18th. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Suncor Energy has a consensus rating of “Moderate Buy” and a consensus price target of C$61.54.

Suncor Energy Stock Performance

Suncor Energy stock opened at C$57.00 on Thursday. The company has a debt-to-equity ratio of 34.98, a current ratio of 1.46 and a quick ratio of 0.83. Suncor Energy has a 12 month low of C$40.07 and a 12 month high of C$57.50. The company has a market cap of C$72.39 billion, a price-to-earnings ratio of 9.79, a price-to-earnings-growth ratio of 0.15 and a beta of 1.47. The stock’s 50-day moving average is C$52.72 and its 200-day moving average is C$53.12.

Suncor Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 25th were paid a $0.545 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $2.18 dividend on an annualized basis and a dividend yield of 3.82%. Suncor Energy’s dividend payout ratio (DPR) is presently 37.46%.

Suncor Energy Company Profile

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.