Suncor Energy (TSE:SU) Rating Increased to Hold at Scotiabank

Scotiabank upgraded shares of Suncor Energy (TSE:SU - Free Report) NYSE: SU to a hold rating in a research note released on Wednesday, March 19th,Zacks.com reports.

Several other research firms have also issued reports on SU. TD Securities decreased their price target on shares of Suncor Energy from C$63.00 to C$61.00 and set a "buy" rating on the stock in a research report on Thursday, March 20th. Desjardins decreased their target price on Suncor Energy from C$68.50 to C$65.00 and set a "buy" rating on the stock in a report on Wednesday, March 19th. Wells Fargo & Company reduced their target price on Suncor Energy from C$66.00 to C$64.00 in a report on Monday, December 9th. Gerdes Energy Research set a C$69.00 price target on Suncor Energy and gave the stock a "buy" rating in a research note on Monday, November 25th. Finally, National Bankshares upped their price objective on shares of Suncor Energy from C$65.00 to C$68.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of C$62.96.

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Suncor Energy Price Performance

Suncor Energy stock traded up C$0.55 during trading hours on Wednesday, hitting C$55.52. 2,514,131 shares of the company traded hands, compared to its average volume of 8,600,131. Suncor Energy has a 1-year low of C$48.41 and a 1-year high of C$58.58. The firm has a market cap of C$69.64 billion, a P/E ratio of 8.77, a P/E/G ratio of 0.15 and a beta of 1.47. The firm's 50-day simple moving average is C$54.75 and its two-hundred day simple moving average is C$53.75. The company has a quick ratio of 0.83, a current ratio of 1.59 and a debt-to-equity ratio of 33.35.

Suncor Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 25th were issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 4.11%. The ex-dividend date was Tuesday, March 4th. Suncor Energy's dividend 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.