Suncor Energy (TSE:SU) Reaches New 12-Month High After Analyst Upgrade

Suncor Energy Inc. (TSE:SU) (NYSE:SU) hit a new 52-week high during mid-day trading on Wednesday after TD Securities raised their price target on the stock from C$50.00 to C$52.00. TD Securities currently has a hold rating on the stock. Suncor Energy traded as high as C$54.32 and last traded at C$54.15, with a volume of 889232 shares traded. The stock had previously closed at C$53.44.

SU has been the subject of a number of other reports. Jefferies Financial Group upped their price target on shares of Suncor Energy from C$50.00 to C$53.00 and gave the company a “hold” rating in a report on Friday, April 12th. Wells Fargo & Company lifted their price target on shares of Suncor Energy from C$55.00 to C$60.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. National Bankshares increased their price objective on Suncor Energy from C$57.00 to C$75.00 and gave the company an “outperform” rating in a research report on Friday, April 19th. Desjardins lifted their target price on Suncor Energy from C$48.50 to C$54.00 and gave the stock a “hold” rating in a report on Tuesday, April 23rd. Finally, CIBC boosted their target price on Suncor Energy from C$60.00 to C$65.00 and gave the stock an “outperform” rating in a research report on Monday, April 22nd. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of C$57.92.

Insider Buying and Selling

In other news, Senior Officer Shelley Powell sold 16,400 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of C$45.84, for a total value of C$751,776.00. In other news, Senior Officer Jacqueline Sue Moore sold 12,000 shares of Suncor Energy stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of C$45.83, for a total transaction of C$549,960.00. Also, Senior Officer Shelley Powell sold 16,400 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of C$45.84, for a total value of C$751,776.00. 0.01% of the stock is owned by insiders.

Suncor Energy Stock Down 0.4 %

The stock has a market capitalization of C$68.64 billion, a P/E ratio of 8.43, a PEG ratio of 0.15 and a beta of 1.52. The business has a 50-day simple moving average of C$50.59 and a two-hundred day simple moving average of C$46.26. The company has a quick ratio of 0.83, a current ratio of 1.44 and a debt-to-equity ratio of 36.52.

Suncor Energy (TSE:SU) (NYSE:SU) last posted its quarterly earnings data on Wednesday, February 21st. The company reported C$1.26 earnings per share for the quarter, topping the consensus estimate of C$1.05 by C$0.21. The company had revenue of C$14.14 billion during the quarter, compared to analyst estimates of C$11.33 billion. Suncor Energy had a net margin of 16.90% and a return on equity of 20.07%. Equities research analysts forecast that Suncor Energy Inc. will post 4.7379873 earnings per share for the current fiscal year.

Suncor Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 4th were paid a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date was Friday, March 1st. Suncor Energy’s dividend payout ratio is presently 34.44%.

About Suncor Energy

Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.