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

Shares of Suncor Energy Inc. (TSE:SU) (NYSE:SU) hit a new 52-week high on Monday after Canadian Imperial Bank of Commerce raised their price target on the stock from C$70.00 to C$88.00. The stock traded as high as C$80.12 and last traded at C$78.53, with a volume of 9364361 shares traded. The stock had previously closed at C$77.05.

Several other equities analysts also recently issued reports on SU. Raymond James Financial increased their price objective on shares of Suncor Energy from C$73.00 to C$76.00 and gave the company an “outperform” rating in a report on Thursday, February 5th. BMO Capital Markets raised their price target on shares of Suncor Energy from C$69.00 to C$85.00 and gave the company an “outperform” rating in a research note on Wednesday, February 4th. UBS Group boosted their price objective on Suncor Energy from C$61.00 to C$65.00 in a research note on Wednesday, November 5th. Gerdes Energy Research increased their target price on Suncor Energy from C$75.00 to C$78.00 in a report on Monday, November 10th. Finally, Scotiabank lifted their price target on Suncor Energy from C$62.00 to C$70.00 and gave the stock a “sector perform” rating in a research note on Tuesday, January 20th. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of C$74.07.

Suncor Energy Stock Performance

The firm’s 50 day moving average price is C$69.18 and its two-hundred day moving average price is C$62.00. The firm has a market cap of C$94.35 billion, a PE ratio of 16.30, a PEG ratio of 0.15 and a beta of 0.89. The company has a debt-to-equity ratio of 33.35, a quick ratio of 0.83 and a current ratio of 1.59.

Suncor Energy (TSE:SU) (NYSE:SU) last released its quarterly earnings data on Tuesday, February 3rd. The company reported C$1.10 EPS for the quarter. The firm had revenue of C$12.04 billion for the quarter. Suncor Energy had a return on equity of 18.10% and a net margin of 15.15%. On average, research analysts forecast that Suncor Energy Inc. will post 4.4208333 earnings per share for the current year.

Suncor Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Wednesday, March 25th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.0%. The ex-dividend date is Wednesday, March 4th. Suncor Energy’s payout ratio is 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.