Suncor Energy (TSE:SU) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Shares of Suncor Energy Inc. (TSE:SU) (NYSE:SU) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$77.79 and traded as high as C$83.48. Suncor Energy shares last traded at C$83.39, with a volume of 8,153,140 shares.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Scotiabank increased their target price on Suncor Energy from C$80.00 to C$85.00 in a report on Wednesday, April 1st. JPMorgan Chase & Co. increased their target price on Suncor Energy from C$105.00 to C$106.00 in a report on Tuesday, May 12th. Royal Bank Of Canada raised their price objective on Suncor Energy from C$89.00 to C$100.00 and gave the company an “outperform” rating in a report on Wednesday, April 8th. Raymond James Financial raised their price objective on Suncor Energy from C$76.00 to C$93.00 in a report on Monday, March 30th. Finally, Canadian Imperial Bank of Commerce raised their price objective on Suncor Energy from C$88.00 to C$92.00 in a report on Thursday, April 2nd. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$93.13.

Suncor Energy Price Performance

The firm has a market capitalization of C$98.46 billion, a price-to-earnings ratio of 15.85, a P/E/G ratio of 0.15 and a beta of 0.14. The company’s 50 day moving average is C$89.22 and its 200-day moving average is C$77.79. The company has a current ratio of 1.42, a quick ratio of 0.83 and a debt-to-equity ratio of 32.36.

Suncor Energy (TSE:SU) (NYSE:SU) last issued its earnings results on Tuesday, May 5th. The company reported C$1.93 earnings per share (EPS) for the quarter. Suncor Energy had a net margin of 12.17% and a return on equity of 14.01%. The business had revenue of C$14.48 billion during the quarter. Equities research analysts anticipate that Suncor Energy Inc. will post 4.4208333 earnings per share for the current year.

Suncor Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 25th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.9%. The ex-dividend date is Thursday, June 4th. Suncor Energy’s dividend payout ratio (DPR) is 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.