TD Securities Cuts Suncor Energy (TSE:SU) Price Target to C$61.00

Suncor Energy (TSE:SU) (NYSE:SU) had its price target reduced by TD Securities from C$63.00 to C$61.00 in a research report released on Thursday,BayStreet.CA reports. They currently have a buy rating on the stock.

SU has been the subject of a number of other research reports. JPMorgan Chase & Co. boosted their price target on shares of Suncor Energy from C$59.00 to C$61.00 in a research note on Friday, December 13th. Desjardins cut their price target on shares of Suncor Energy from C$68.50 to C$65.00 and set a “buy” rating on the stock in a report on Wednesday. National Bankshares boosted their price target on shares of Suncor Energy from C$65.00 to C$68.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Tudor Pickering raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, February 10th. Finally, Royal Bank of Canada dropped their price objective on shares of Suncor Energy from C$66.00 to C$65.00 in a report on Tuesday, January 14th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$62.96.

Suncor Energy Stock Performance

Shares of SU stock opened at C$53.72 on Thursday. The firm has a market capitalization of C$67.38 billion, a PE ratio of 8.48, a price-to-earnings-growth ratio of 0.15 and a beta of 1.47. The firm has a fifty day simple moving average of C$54.86 and a two-hundred day simple moving average of C$53.75. The company has a current ratio of 1.59, a quick ratio of 0.83 and a debt-to-equity ratio of 33.35. Suncor Energy has a 12 month low of C$48.41 and a 12 month high of C$58.58.

Suncor Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 25th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 4.24%. The ex-dividend date is Tuesday, March 4th. Suncor Energy’s dividend payout ratio (DPR) is 34.42%.

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.