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

Shares of Suncor Energy Inc. (TSE:SU) (NYSE:SU) reached a new 52-week high during trading on Tuesday . The stock traded as high as C$89.93 and last traded at C$89.58, with a volume of 1507979 shares changing hands. The stock had previously closed at C$86.70.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on SU shares. Jefferies Financial Group boosted their price target on shares of Suncor Energy from C$66.00 to C$82.00 in a research note on Monday, March 16th. Royal Bank Of Canada raised their price objective on Suncor Energy from C$69.00 to C$75.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. TD Securities lifted their price objective on Suncor Energy from C$74.00 to C$81.00 in a report on Wednesday, February 4th. Desjardins increased their target price on Suncor Energy from C$79.00 to C$85.00 and gave the company a “buy” rating in a report on Thursday, February 5th. Finally, BMO Capital Markets raised their price target on Suncor Energy from C$69.00 to C$85.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. Six research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$75.86.

Suncor Energy Stock Up 0.7%

The company has a market capitalization of C$106.89 billion, a P/E ratio of 18.57, a price-to-earnings-growth ratio of 0.15 and a beta of 0.75. The company has a current ratio of 1.39, a quick ratio of 0.83 and a debt-to-equity ratio of 40.74. The stock’s fifty day moving average is C$76.47 and its 200 day moving average is C$65.35.

Suncor Energy (TSE:SU) (NYSE:SU) last announced its quarterly earnings results on Tuesday, February 3rd. The company reported C$1.10 earnings per share (EPS) for the quarter. The business had revenue of C$12.04 billion for the quarter. Suncor Energy had a net margin of 12.10% and a return on equity of 13.17%. Research analysts predict that Suncor Energy Inc. will post 4.4208333 EPS for the current fiscal year.

Suncor Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 25th. Investors of record on Wednesday, March 25th were paid a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, March 4th. This represents a $2.40 annualized dividend and a dividend yield of 2.7%. Suncor Energy’s dividend payout ratio (DPR) is presently 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.