Suncor Energy (TSE:SU) Reaches New 1-Year High on Analyst Upgrade

Suncor Energy Inc. (TSE:SU) (NYSE:SU) shares hit a new 52-week high during mid-day trading on Wednesday after National Bankshares raised their price target on the stock from C$72.00 to C$85.00. National Bankshares currently has an outperform rating on the stock. Suncor Energy traded as high as C$75.50 and last traded at C$73.90, with a volume of 3071730 shares. The stock had previously closed at C$72.85.

Several other research analysts also recently issued reports on SU. Raymond James Financial raised their price objective on shares of Suncor Energy from C$70.00 to C$75.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 7th. Royal Bank Of Canada raised their price target on Suncor Energy from C$67.00 to C$70.00 and gave the stock an “outperform” rating in a report on Friday, January 9th. UBS Group lifted their target price on Suncor Energy from C$61.00 to C$65.00 in a research note on Wednesday, November 5th. Scotiabank upped their price target on Suncor Energy from C$62.00 to C$70.00 and gave the stock a “sector perform” rating in a research note on Tuesday, January 20th. Finally, Desjardins increased their price target on Suncor Energy from C$74.00 to C$79.00 and gave the stock a “buy” rating in a report on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$69.62.

Insiders Place Their Bets

In other news, insider Troy Ward Little sold 8,711 shares of the company’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of C$62.61, for a total transaction of C$545,395.71. Also, insider Kristopher Peter Smith sold 112,600 shares of the stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of C$61.74, for a total transaction of C$6,951,924.00. Following the completion of the transaction, the insider owned 48,482 shares of the company’s stock, valued at C$2,993,278.68. This represents a 69.90% decrease in their position. In the last ninety days, insiders have sold 164,675 shares of company stock worth $10,208,871. Corporate insiders own 0.01% of the company’s stock.

Suncor Energy Stock Performance

The company has a quick ratio of 0.83, a current ratio of 1.59 and a debt-to-equity ratio of 33.35. The stock has a market capitalization of C$88.81 billion, a price-to-earnings ratio of 17.23, a PEG ratio of 0.15 and a beta of 0.89. The firm has a fifty day moving average of C$63.96 and a 200-day moving average of C$59.28.

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 for the quarter. Suncor Energy had a return on equity of 18.10% and a net margin of 15.15%. As a group, sell-side analysts anticipate that Suncor Energy Inc. will post 4.4208333 EPS for the current year.

Suncor Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 24th. Shareholders of record on Wednesday, December 24th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.2%. 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 payout ratio is currently 53.15%.

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. It also conducts energy trading activities focused principally on the marketing and trading of crude oil, natural gas, byproducts, refined products and power.