TD Securities Issues Positive Forecast for Suncor Energy (TSE:SU) Stock Price

by · The Markets Daily

Suncor Energy (TSE:SU – Get Free Report) (NYSE:SU) had its price objective raised by TD Securities from C$71.00 to C$73.00 in a note issued to investors on Friday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. TD Securities’ price objective points to a potential upside of 19.44% from the stock’s previous close.

Several other brokerages have also commented on SU. National Bankshares upped their price target on Suncor Energy from C$65.00 to C$68.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. Raymond James Financial upgraded shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a report on Thursday, November 6th. JPMorgan Chase & Co. boosted their price objective on shares of Suncor Energy from C$59.00 to C$64.00 in a research note on Thursday, November 6th. CIBC increased their price objective on shares of Suncor Energy from C$65.00 to C$70.00 in a research report on Thursday, November 27th. Finally, Gerdes Energy Research raised their target price on shares of Suncor Energy from C$75.00 to C$78.00 in a research note on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Suncor Energy has an average rating of “Moderate Buy” and an average target price of C$65.77.

Read Our Latest Stock Analysis on SU

Suncor Energy Trading Up 0.2%

Suncor Energy stock traded up C$0.14 during trading on Friday, reaching C$61.12. The company had a trading volume of 909,771 shares, compared to its average volume of 7,910,735. Suncor Energy has a 12-month low of C$43.59 and a 12-month high of C$64.14. 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 stock’s 50 day moving average price is C$58.89 and its two-hundred day moving average price is C$55.93. The firm has a market capitalization of C$73.42 billion, a price-to-earnings ratio of 14.25, a PEG ratio of 0.15 and a beta of 0.75.

Suncor Energy (TSE:SU – Get Free Report) (NYSE:SU) last announced its quarterly earnings results on Tuesday, November 4th. The company reported C$1.48 earnings per share for the quarter. The company had revenue of C$12.55 billion for the quarter. Suncor Energy had a net margin of 15.15% and a return on equity of 18.10%. As a group, equities analysts expect that Suncor Energy will post 4.4208333 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Kristopher Peter Smith sold 112,600 shares of the stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of C$61.74, for a total value of C$6,951,924.00. Following the completion of the transaction, the insider owned 48,482 shares of the company’s stock, valued at approximately C$2,993,278.68. This represents a 69.90% decrease in their ownership of the stock. Insiders own 0.01% of the company’s stock.

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.

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