Desjardins Forecasts Strong Price Appreciation for Suncor Energy (TSE:SU) Stock

by · The Markets Daily

Suncor Energy (TSE:SU – Get Free Report) (NYSE:SU) had its price target increased by equities research analysts at Desjardins from C$110.00 to C$117.00 in a research report issued on Tuesday, BayStreet reports. The firm currently has a “buy” rating on the stock. Desjardins’ target price points to a potential upside of 6.50% from the stock’s current price.

A number of other analysts have also weighed in on the stock. TD upped their target price on shares of Suncor Energy from C$113.00 to C$116.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Royal Bank Of Canada increased their target price on shares of Suncor Energy from C$100.00 to C$110.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 13th. Gerdes Energy Research downgraded shares of Suncor Energy from a “buy” rating to a “neutral” rating and raised their price target for the company from C$96.00 to C$97.00 in a report on Wednesday, July 22nd. Raymond James Financial raised their price target on shares of Suncor Energy from C$109.00 to C$118.00 and gave the company an “outperform” rating in a report on Wednesday, September 16th. Finally, Scotiabank upgraded shares of Suncor Energy to a “strong-buy” rating in a research report on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$102.12.

Check Out Our Latest Research Report on Suncor Energy

Suncor Energy Price Performance

Shares of Suncor Energy stock traded down C$0.77 on Tuesday, reaching C$109.86. The stock had a trading volume of 1,110,626 shares, compared to its average volume of 6,162,521. Suncor Energy has a 1 year low of C$53.02 and a 1 year high of C$112.04. The company has a market cap of C$128.50 billion, a P/E ratio of 14.67, a price-to-earnings-growth ratio of 0.15 and a beta of 0.18. The company has a current ratio of 1.65, a quick ratio of 0.83 and a debt-to-equity ratio of 30.48. The business’s 50 day moving average is C$96.47 and its two-hundred day moving average is C$90.47.

Suncor Energy (TSE:SU – Get Free Report) (NYSE:SU) last released its quarterly earnings data on Tuesday, August 4th. The company reported C$3.23 EPS for the quarter. The company had revenue of C$17.50 billion during the quarter. Suncor Energy had a net margin of 15.32% and a return on equity of 19.38%. As a group, research analysts anticipate that Suncor Energy will post 4.42 EPS for the current year.

Insider Transactions at Suncor Energy

In other news, insider Adam Husain Albeldawi sold 1,173 shares of Suncor Energy stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of C$95.01, for a total transaction of C$111,446.73. Also, insider Curtis Wade Serra sold 2,400 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of C$94.03, for a total transaction of C$225,672.00. Over the last quarter, insiders have sold 79,792 shares of company stock worth $7,294,928. 0.01% of the stock is owned by insiders.

About Suncor Energy

(Get Free Report)

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.

Further Reading