Suncor Energy (TSE:SU) Hits New 52-Week High on Analyst Upgrade

Suncor Energy Inc. (TSE:SU) (NYSE:SU) shares hit a new 52-week high on Monday after Desjardins raised their price target on the stock from C$48.50 to C$54.00. Desjardins currently has a hold rating on the stock. Suncor Energy traded as high as C$53.85 and last traded at C$53.58, with a volume of 1945192 shares changing hands. The stock had previously closed at C$52.99.

Several other equities research analysts also recently weighed in on the stock. National Bankshares raised their price target on shares of Suncor Energy from C$57.00 to C$75.00 and gave the company an “outperform” rating in a research report on Friday, April 19th. Royal Bank of Canada lifted their target price on shares of Suncor Energy from C$52.00 to C$58.00 in a research report on Tuesday, April 9th. BMO Capital Markets lifted their target price on shares of Suncor Energy from C$52.00 to C$55.00 in a research report on Thursday, March 28th. Jefferies Financial Group lifted their target price on shares of Suncor Energy from C$50.00 to C$53.00 and gave the stock a “hold” rating in a research report on Friday, April 12th. Finally, TD Securities lifted their target price on shares of Suncor Energy from C$46.00 to C$48.00 and gave the stock a “hold” rating in a research report on Thursday, February 22nd. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of C$57.62.

Insider Activity at Suncor Energy

In related news, Senior Officer Shelley Powell sold 16,400 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of C$45.84, for a total transaction of C$751,776.00. In other Suncor Energy news, Senior Officer Shelley Powell sold 16,400 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of C$45.84, for a total transaction of C$751,776.00. Also, Senior Officer Jacqueline Sue Moore sold 12,000 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of C$45.83, for a total transaction of C$549,960.00. 0.01% of the stock is currently owned by corporate insiders.

Suncor Energy Stock Down 0.1 %

The company’s fifty day moving average price is C$48.93 and its 200-day moving average price is C$45.79. The stock has a market cap of C$68.98 billion, a P/E ratio of 8.45, a price-to-earnings-growth ratio of 0.15 and a beta of 1.52. The company has a debt-to-equity ratio of 36.52, a quick ratio of 0.83 and a current ratio of 1.44.

Suncor Energy (TSE:SU) (NYSE:SU) last released its earnings results on Wednesday, February 21st. The company reported C$1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of C$1.05 by C$0.21. Suncor Energy had a net margin of 16.90% and a return on equity of 20.07%. The firm had revenue of C$14.14 billion during the quarter, compared to analyst estimates of C$11.33 billion. Equities analysts forecast that Suncor Energy Inc. will post 4.7415525 EPS for the current year.

Suncor Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Monday, March 4th were issued a dividend of $0.545 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $2.18 dividend on an annualized basis and a yield of 4.08%. Suncor Energy’s payout ratio is 34.44%.

Suncor Energy Company Profile

Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.