Suncor Energy (TSE:SU) Hits New 12-Month High – Still a Buy?

Suncor Energy Inc. (TSE:SU) (NYSE:SU) shares hit a new 52-week high on Thursday. The company traded as high as C$100.64 and last traded at C$100.38, with a volume of 801758 shares changing hands. The stock had previously closed at C$97.26.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SU. Gerdes Energy Research lowered Suncor Energy from a “buy” rating to a “neutral” rating and raised their target price for the stock from C$96.00 to C$97.00 in a research note on Wednesday, July 22nd. National Bank Financial increased their price objective on Suncor Energy from C$118.00 to C$146.00 and gave the company an “outperform” rating in a report on Wednesday, September 30th. TD raised their price objective on Suncor Energy from C$113.00 to C$116.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Desjardins set a C$107.00 target price on Suncor Energy and gave the stock a “buy” rating in a report on Friday, July 17th. Finally, ATB Cormark Capital Markets upped their target price on Suncor Energy from C$108.00 to C$110.00 and gave the company an “outperform” rating in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$100.94.

Suncor Energy Trading Up 3.5%

The firm has a market cap of C$117.76 billion, a PE ratio of 13.44, a price-to-earnings-growth ratio of 0.15 and a beta of 0.18. The company has a 50-day simple moving average of C$93.84 and a 200 day simple moving average of C$89.54. The company has a current ratio of 1.65, a quick ratio of 0.83 and a debt-to-equity ratio of 30.48.

Suncor Energy (TSE:SU) (NYSE:SU) last posted its earnings results on Tuesday, August 4th. The company reported C$3.23 earnings per share for the quarter. Suncor Energy had a net margin of 15.32% and a return on equity of 19.38%. The firm had revenue of C$17.50 billion during the quarter. As a group, sell-side analysts forecast that Suncor Energy Inc. will post 4.4208333 earnings per share for the current fiscal year.

Suncor Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 25th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Friday, September 4th. Suncor Energy’s payout ratio is currently 31.64%.

Insider Buying and Selling

In other news, insider Shelley Powell sold 41,911 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of C$87.60, for a total transaction of C$3,671,403.60. Following the completion of the transaction, the insider directly owned 27,705 shares of the company’s stock, valued at C$2,426,958. This represents a 60.20% decrease in their position. Also, insider Peter Douglas Zebedee sold 5,000 shares of the stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of C$98.00, for a total value of C$490,000.00. Insiders have sold a total of 79,792 shares of company stock worth $7,294,928 in the last ninety days. 0.01% of the stock is owned by corporate insiders.

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.