Suncor Energy (NYSE:SU) Sets New 12-Month High – Here’s What Happened

Suncor Energy Inc. (NYSE:SU) (TSE:SU) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $55.91 and last traded at $55.6240, with a volume of 651722 shares changing hands. The stock had previously closed at $54.61.

Analyst Upgrades and Downgrades

SU has been the subject of a number of recent research reports. The Goldman Sachs Group lifted their price target on shares of Suncor Energy from $48.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, January 23rd. Wells Fargo & Company assumed coverage on Suncor Energy in a research note on Friday, October 17th. They set an “equal weight” rating on the stock. JPMorgan Chase & Co. upgraded Suncor Energy from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $46.15 to $54.00 in a report on Tuesday, January 20th. Royal Bank Of Canada upped their target price on Suncor Energy from $69.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. Finally, Raymond James Financial raised Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Thursday, November 6th. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Suncor Energy currently has an average rating of “Moderate Buy” and a consensus price target of $61.00.

Suncor Energy Trading Down 0.2%

The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.89 and a current ratio of 1.39. The company has a market capitalization of $65.64 billion, a PE ratio of 15.92 and a beta of 0.46. The business has a fifty day moving average price of $47.73 and a 200 day moving average price of $43.46.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings results on Tuesday, February 3rd. The oil and gas producer reported $0.79 EPS for the quarter, beating the consensus estimate of $0.77 by $0.02. Suncor Energy had a net margin of 11.99% and a return on equity of 12.51%. The firm had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.79 billion. During the same quarter last year, the firm posted $1.25 earnings per share. Analysts expect that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Wednesday, March 4th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 4.4%. The ex-dividend date is Wednesday, March 4th. Suncor Energy’s dividend payout ratio is currently 49.57%.

Institutional Investors Weigh In On Suncor Energy

A number of large investors have recently modified their holdings of SU. Atlantic Edge Private Wealth Management LLC grew its position in Suncor Energy by 54.9% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 635 shares of the oil and gas producer’s stock valued at $28,000 after acquiring an additional 225 shares in the last quarter. Richardson Financial Services Inc. increased its stake in Suncor Energy by 64.1% during the 3rd quarter. Richardson Financial Services Inc. now owns 704 shares of the oil and gas producer’s stock worth $29,000 after buying an additional 275 shares during the period. Headlands Technologies LLC acquired a new position in Suncor Energy in the 2nd quarter worth $31,000. Hanson & Doremus Investment Management boosted its position in Suncor Energy by 143.5% in the 3rd quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer’s stock valued at $33,000 after buying an additional 465 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in shares of Suncor Energy by 95.8% during the third quarter. Smartleaf Asset Management LLC now owns 793 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 388 shares in the last quarter. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Company Profile

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company’s operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.