Suncor Energy (TSE:SU) Sets New 12-Month High – What’s Next?

Suncor Energy Inc. (TSE:SU) (NYSE:SU)’s share price hit a new 52-week high during trading on Friday . The stock traded as high as C$69.99 and last traded at C$69.77, with a volume of 1865484 shares trading hands. The stock had previously closed at C$68.05.

Analyst Ratings Changes

A number of brokerages have weighed in on SU. Wells Fargo & Company set a C$57.00 target price on Suncor Energy and gave the stock an “equal weight” rating in a report on Friday, October 17th. JPMorgan Chase & Co. lifted their price objective on shares of Suncor Energy from C$59.00 to C$64.00 in a research note on Thursday, November 6th. Raymond James Financial increased their target price on shares of Suncor Energy from C$70.00 to C$75.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 7th. Royal Bank Of Canada lifted their price target on shares of Suncor Energy from C$67.00 to C$70.00 and gave the company an “outperform” rating in a research note on Friday, January 9th. Finally, UBS Group upped their price objective on shares of Suncor Energy from C$61.00 to C$65.00 in a report on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$67.62.

Suncor Energy Price Performance

The stock has a market capitalization of C$83.43 billion, a P/E ratio of 16.19, a price-to-earnings-growth ratio of 0.15 and a beta of 0.79. The business’s 50 day simple moving average is C$61.75 and its two-hundred day simple moving average is C$57.61. The company has a quick ratio of 0.83, a current ratio of 1.59 and a debt-to-equity ratio of 33.35.

Suncor Energy (TSE:SU) (NYSE:SU) last posted its earnings results on Tuesday, November 4th. The company reported C$1.48 earnings per share for the quarter. Suncor Energy had a net margin of 15.15% and a return on equity of 18.10%. The company had revenue of C$12.55 billion for 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 Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 24th. Stockholders of record on Wednesday, December 24th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.5%. This is a boost from Suncor Energy’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Wednesday, December 3rd. Suncor Energy’s dividend payout ratio (DPR) is currently 53.15%.

Insider Activity at Suncor Energy

In related news, insider Peter Douglas Zebedee sold 43,364 shares of the company’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of C$62.53, for a total transaction of C$2,711,550.92. Also, insider Kristopher Peter Smith sold 112,600 shares of the stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of C$61.74, for a total value of C$6,951,924.00. Following the completion of the sale, the insider directly owned 48,482 shares of the company’s stock, valued at C$2,993,278.68. The trade was a 69.90% decrease in their ownership of the stock. Insiders have sold a total of 164,675 shares of company stock valued at $10,208,871 over the last 90 days. Insiders own 0.01% of the company’s stock.

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.