Suncor Energy (TSE:SU) Sets New 12-Month High on Analyst Upgrade

Suncor Energy Inc. (TSE:SU) (NYSE:SU) shares reached a new 52-week high during mid-day trading on Tuesday after Desjardins raised their price target on the stock from C$110.00 to C$117.00. Desjardins currently has a buy rating on the stock. Suncor Energy traded as high as C$110.98 and last traded at C$110.63, with a volume of 2,968,660 shares changing hands. The stock had previously closed at C$110.25.

SU has been the subject of a number of other research reports. National Bank Financial cut their target price on shares of Suncor Energy from C$146.00 to C$145.00 and set an “outperform” rating for the company in a research note on Tuesday. JPMorgan Chase & Co. raised their price target on shares of Suncor Energy from C$107.00 to C$114.00 in a research note on Thursday, August 13th. TD raised their price target on shares of Suncor Energy from C$113.00 to C$116.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Royal Bank Of Canada lifted their price objective on Suncor Energy from C$100.00 to C$110.00 and gave the stock an “outperform” rating in a report on Tuesday, October 13th. Finally, BMO Capital Markets boosted their price objective on Suncor Energy from C$100.00 to C$105.00 in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$102.12.

Insider Buying and Selling

In other news, insider Peter Douglas Zebedee sold 5,000 shares of the company’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of C$98.00, for a total transaction of C$490,000.00. Also, insider Curtis Wade Serra sold 2,400 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of C$94.03, for a total transaction of C$225,672.00. Insiders have sold a total of 79,792 shares of company stock worth $7,294,928 in the last ninety days. Company insiders own 0.01% of the company’s stock.

Suncor Energy Stock Performance

The company has a market cap of C$129.68 billion, a PE ratio of 14.80, a PEG ratio of 0.15 and a beta of 0.18. The company has a debt-to-equity ratio of 30.48, a quick ratio of 0.83 and a current ratio of 1.65. The firm’s 50 day moving average is C$97.34 and its 200-day moving average is C$90.74.

Suncor Energy (TSE:SU) (NYSE:SU) last released its quarterly earnings data on Tuesday, August 4th. The company reported C$3.23 EPS for the quarter. Suncor Energy had a net margin of 15.32% and a return on equity of 19.38%. The company had revenue of C$17.50 billion during the quarter. On average, research analysts anticipate that Suncor Energy Inc. will post 4.42 earnings per share for the current fiscal year.

Suncor Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 25th were given a $0.60 dividend. The ex-dividend date was Friday, September 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.2%. Suncor Energy’s dividend payout ratio is 31.64%.

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.