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

Suncor Energy (TSE:SU) (NYSE:SU) had its price objective lifted by TD Securities from C$67.00 to C$70.00 in a research note issued on Wednesday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. TD Securities’ price target suggests a potential upside of 20.01% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. National Bankshares raised their price target on shares of 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. Desjardins increased their price objective on Suncor Energy from C$64.00 to C$65.00 and gave the company a “buy” rating in a report on Thursday, August 7th. Scotiabank increased their price objective on Suncor Energy from C$60.00 to C$62.00 and gave the company a “sector perform” rating in a report on Wednesday, August 6th. Raymond James Financial increased their price objective on Suncor Energy from C$57.00 to C$58.00 and gave the company a “market perform” rating in a report on Thursday, August 7th. Finally, Gerdes Energy Research cut their price objective on Suncor Energy from C$79.00 to C$77.00 in a report on Thursday, September 11th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$64.17.

Suncor Energy Stock Up 4.8%

TSE SU traded up C$2.68 during trading hours on Wednesday, reaching C$58.33. 3,354,794 shares of the company’s stock were exchanged, compared to its average volume of 7,704,644. The company’s 50-day moving average is C$56.71 and its two-hundred day moving average is C$53.60. Suncor Energy has a one year low of C$43.59 and a one year high of C$60.48. 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 capitalization of C$70.77 billion, a price-to-earnings ratio of 12.85, a price-to-earnings-growth ratio of 0.15 and a beta of 0.61.

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

Insider Activity

In other Suncor Energy news, insider Kristopher Peter Smith sold 100,000 shares of the stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of C$57.57, for a total transaction of C$5,757,000.00. Following the transaction, the insider directly owned 48,482 shares in the company, valued at approximately C$2,791,108.74. This represents a 67.35% decrease in their position. Also, insider David Jason Oldreive sold 4,542 shares of the stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of C$57.50, for a total value of C$261,165.00. In the last three months, insiders sold 139,542 shares of company stock worth $8,052,015. Company insiders own 0.01% of the company’s stock.

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.