Suncor Energy (TSE:SU) Sets New 52-Week High – What’s Next?

Shares of Suncor Energy Inc. (TSE:SU) (NYSE:SU) reached a new 52-week high on Tuesday . The company traded as high as C$76.84 and last traded at C$75.77, with a volume of 36660 shares. The stock had previously closed at C$76.25.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Royal Bank Of Canada lifted their price target on shares of Suncor Energy from C$69.00 to C$75.00 and gave the stock an “outperform” rating in a research note on Thursday, February 5th. Scotiabank boosted their target price on Suncor Energy from C$62.00 to C$70.00 and gave the company a “sector perform” rating in a report on Tuesday, January 20th. JPMorgan Chase & Co. upped their target price on Suncor Energy from C$59.00 to C$64.00 in a research report on Thursday, November 6th. Desjardins lifted their price target on Suncor Energy from C$79.00 to C$85.00 and gave the stock a “buy” rating in a research report on Thursday, February 5th. Finally, TD Securities boosted their price objective on Suncor Energy from C$74.00 to C$81.00 in a research note on Wednesday, February 4th. Six equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$72.79.

Suncor Energy Trading Down 1.7%

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 company’s fifty day moving average price is C$66.17 and its two-hundred day moving average price is C$60.56. The firm has a market cap of C$89.42 billion, a PE ratio of 15.45, a P/E/G ratio of 0.15 and a beta of 0.89.

Suncor Energy (TSE:SU) (NYSE:SU) last announced its quarterly earnings data on Tuesday, February 3rd. The company reported C$1.10 EPS for the quarter. Suncor Energy had a net margin of 15.15% and a return on equity of 18.10%. As a group, sell-side analysts forecast that Suncor Energy Inc. will post 4.4208333 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 24th. Stockholders of record on Wednesday, December 24th were paid a dividend of $0.60 per share. 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. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.2%. Suncor Energy’s dividend payout ratio is currently 47.63%.

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.