Suncor Energy (TSE:SU) Sets New 52-Week High – Here’s What Happened

Suncor Energy Inc. (TSE:SU) (NYSE:SU) reached a new 52-week high during trading on Tuesday . The stock traded as high as C$89.93 and last traded at C$89.58, with a volume of 1507979 shares. The stock had previously closed at C$86.70.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on SU shares. BMO Capital Markets lifted their target price on Suncor Energy from C$69.00 to C$85.00 and gave the stock an “outperform” rating in a report on Wednesday, February 4th. National Bank Financial raised their price objective on shares of Suncor Energy from C$72.00 to C$85.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 3rd. ATB Cormark Capital Markets lifted their price objective on shares of Suncor Energy from C$68.00 to C$71.00 and gave the company a “sector perform” rating in a research note on Thursday, February 5th. TD Securities boosted their target price on shares of Suncor Energy from C$74.00 to C$81.00 in a research report on Wednesday, February 4th. Finally, Canadian Imperial Bank of Commerce increased their target price on shares of Suncor Energy from C$70.00 to C$88.00 in a research note on Monday, March 2nd. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of C$75.86.

Suncor Energy Price Performance

The business has a 50-day moving average of C$75.63 and a 200 day moving average of C$64.95. The company has a current ratio of 1.39, a quick ratio of 0.83 and a debt-to-equity ratio of 40.74. The firm has a market capitalization of C$104.77 billion, a P/E ratio of 18.20, a price-to-earnings-growth ratio of 0.15 and a beta of 0.75.

Suncor Energy (TSE:SU) (NYSE:SU) last announced its quarterly earnings results on Tuesday, February 3rd. The company reported C$1.10 earnings per share (EPS) for the quarter. Suncor Energy had a return on equity of 13.17% and a net margin of 12.10%.The business had revenue of C$12.04 billion for the quarter. On average, sell-side analysts predict that Suncor Energy Inc. will post 4.4208333 earnings per share for the current fiscal year.

Suncor Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Wednesday, March 25th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Wednesday, March 4th. Suncor Energy’s dividend payout ratio (DPR) is currently 47.63%.

About Suncor Energy

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.