Suncor Energy (TSE:SU) Hits New 1-Year High Following Analyst Upgrade

Shares of Suncor Energy Inc. (TSE:SU) (NYSE:SU) hit a new 52-week high during trading on Wednesday after TD Securities raised their price target on the stock from C$50.00 to C$52.00. TD Securities currently has a hold rating on the stock. Suncor Energy traded as high as C$54.32 and last traded at C$54.15, with a volume of 889232 shares traded. The stock had previously closed at C$53.44.

SU has been the topic of a number of other research reports. Jefferies Financial Group boosted their price objective on shares of Suncor Energy from C$50.00 to C$53.00 and gave the company a “hold” rating in a research report on Friday, April 12th. Desjardins upped their target price on shares of Suncor Energy from C$48.50 to C$54.00 and gave the stock a “hold” rating in a research report on Tuesday, April 23rd. Royal Bank of Canada upped their target price on shares of Suncor Energy from C$52.00 to C$58.00 in a research report on Tuesday, April 9th. National Bankshares upped their price target on shares of Suncor Energy from C$57.00 to C$75.00 and gave the stock an “outperform” rating in a research note on Friday, April 19th. Finally, CIBC upped their price target on shares of Suncor Energy from C$60.00 to C$65.00 and gave the stock an “outperform” rating in a research note on Monday, April 22nd. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of C$57.92.

Insider Buying and Selling

In other Suncor Energy news, Senior Officer Shelley Powell sold 16,400 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of C$45.84, for a total value of C$751,776.00. In related news, Senior Officer Shelley Powell sold 16,400 shares of the firm’s stock in a transaction dated 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 company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of C$45.83, for a total value of C$549,960.00. Corporate insiders own 0.01% of the company’s stock.

Suncor Energy Price Performance

The company’s 50 day simple moving average is C$50.59 and its 200 day simple moving average is C$46.26. The company has a debt-to-equity ratio of 36.52, a current ratio of 1.44 and a quick ratio of 0.83. The company has a market capitalization of C$69.23 billion, a PE ratio of 8.48, a price-to-earnings-growth ratio of 0.15 and a beta of 1.52.

Suncor Energy (TSE:SU) (NYSE:SU) last announced its earnings results on Wednesday, February 21st. The company reported C$1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.05 by C$0.21. Suncor Energy had a return on equity of 20.07% and a net margin of 16.90%. The firm had revenue of C$14.14 billion during the quarter, compared to analysts’ expectations of C$11.33 billion. As a group, sell-side analysts predict that Suncor Energy Inc. will post 4.7379873 earnings per share for the current year.

Suncor Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 4th were given a dividend of $0.545 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $2.18 annualized dividend and a dividend yield of 4.06%. Suncor Energy’s payout ratio is currently 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.