JPMorgan Chase & Co. Issues Positive Forecast for Suncor Energy (TSE:SU) Stock Price

Suncor Energy (TSE:SU) (NYSE:SU) had its price objective increased by JPMorgan Chase & Co. from C$59.00 to C$64.00 in a research note issued to investors on Thursday morning,BayStreet.CA reports.

A number of other research analysts have also recently weighed in on SU. Scotiabank lifted their price objective on Suncor Energy from C$60.00 to C$62.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 6th. Desjardins lifted their price target on shares of Suncor Energy from C$64.00 to C$65.00 and gave the company a “buy” rating in a report on Thursday, August 7th. TD Securities increased their target price on Suncor Energy from C$67.00 to C$70.00 and gave the stock a “buy” rating in a research report on Wednesday. Jefferies Financial Group lifted their target price on Suncor Energy from C$53.00 to C$57.00 in a research note on Monday, August 18th. Finally, Wells Fargo & Company set a C$57.00 price target on Suncor Energy and gave the stock an “equal weight” rating in a research note on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of C$64.33.

Suncor Energy Stock Up 1.9%

SU stock opened at C$59.27 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. The company has a market cap of C$71.91 billion, a price-to-earnings ratio of 13.06, a P/E/G ratio of 0.15 and a beta of 0.61. The business’s 50-day moving average is C$56.78 and its two-hundred day moving average is C$53.71. Suncor Energy has a fifty-two week low of C$43.59 and a fifty-two week high of C$60.48.

Suncor Energy (TSE:SU) (NYSE:SU) last issued its quarterly earnings results on Tuesday, August 5th. The company reported C$0.71 earnings per share for the quarter. Suncor Energy had a net margin of 15.15% and a return on equity of 18.10%. As a group, analysts forecast that Suncor Energy will post 4.4208333 earnings per share for the current year.

Suncor Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Thursday, September 25th were given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 3.8%. The ex-dividend date was Thursday, September 4th. Suncor Energy’s payout ratio is currently 49.67%.

Insider Activity at Suncor Energy

In other news, insider Shelley Powell sold 30,000 shares of the business’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of C$58.06, for a total value of C$1,741,650.00. Following the sale, the insider directly owned 27,705 shares in the company, valued at C$1,608,413.78. The trade was a 51.99% decrease in their position. Also, insider David Jason Oldreive sold 4,542 shares of the company’s stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of C$57.50, for a total transaction of C$261,165.00. Insiders have sold 139,542 shares of company stock valued at $8,052,015 over the last quarter. 0.01% of the stock is currently owned by insiders.

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.