Desjardins Cuts Suncor Energy (TSE:SU) Price Target to C$62.00

Suncor Energy (TSE:SU) (NYSE:SU) had its target price cut by Desjardins from C$63.00 to C$62.00 in a research report sent to investors on Thursday,BayStreet.CA reports. They currently have a buy rating on the stock.

Other equities analysts also recently issued research reports about the stock. Scotiabank upgraded shares of Suncor Energy to a “hold” rating in a research note on Wednesday, March 19th. Tudor Pickering raised shares of Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, February 10th. TD Securities lowered their target price on shares of Suncor Energy from C$63.00 to C$62.00 and set a “buy” rating for the company in a report on Wednesday. Raymond James boosted their price target on shares of Suncor Energy from C$57.00 to C$58.00 and gave the company a “market perform” rating in a research report on Friday, February 7th. Finally, Royal Bank of Canada decreased their price objective on shares of Suncor Energy from C$66.00 to C$65.00 in a research note on Tuesday, January 14th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$62.58.

Suncor Energy Stock Performance

Shares of Suncor Energy stock opened at C$48.72 on Thursday. The company has a debt-to-equity ratio of 33.35, a quick ratio of 0.83 and a current ratio of 1.59. Suncor Energy has a one year low of C$43.59 and a one year high of C$58.58. The company has a market cap of C$61.11 billion, a PE ratio of 7.69, a P/E/G ratio of 0.15 and a beta of 1.47. The business has a 50-day simple moving average of C$50.23 and a 200-day simple moving average of C$53.07.

Suncor Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 25th were paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 4.68%. The ex-dividend date of this dividend was Tuesday, March 4th. Suncor Energy’s payout ratio is currently 34.42%.

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.