Suncor Energy (TSE:SU) Sets New 1-Year High – Here’s What Happened

Suncor Energy Inc. (TSE:SU) (NYSE:SU)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$76.25 and last traded at C$76.13, with a volume of 1696740 shares traded. The stock had previously closed at C$74.00.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SU. Raymond James Financial raised their price target on Suncor Energy from C$73.00 to C$76.00 and gave the company an “outperform” rating in a report on Thursday, February 5th. JPMorgan Chase & Co. raised their price target on Suncor Energy from C$59.00 to C$64.00 in a research report on Thursday, November 6th. National Bankshares boosted their price target on Suncor Energy from C$72.00 to C$85.00 and gave the company an “outperform” rating in a report on Tuesday, February 3rd. Royal Bank Of Canada lifted their target price on Suncor Energy from C$69.00 to C$75.00 and gave the company an “outperform” rating in a report on Thursday, February 5th. Finally, Canadian Imperial Bank of Commerce boosted their price objective on shares of Suncor Energy from C$65.00 to C$70.00 in a research note on Thursday, November 27th. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$72.79.

Suncor Energy Stock Performance

The firm has a market cap of C$90.58 billion, a P/E ratio of 15.65, a price-to-earnings-growth ratio of 0.15 and a beta of 0.89. The company has a current ratio of 1.59, a quick ratio of 0.83 and a debt-to-equity ratio of 33.35. The business’s fifty day simple moving average is C$65.04 and its 200-day simple moving average is C$59.97.

Suncor Energy (TSE:SU) (NYSE:SU) last posted its earnings results 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 expect that Suncor Energy Inc. will post 4.4208333 earnings per share for the current year.

Suncor Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 24th. Investors of record on Wednesday, December 24th were given a $0.60 dividend. 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 annualized dividend and a yield of 3.2%. Suncor Energy’s payout ratio is currently 47.63%.

Insider Activity

In related news, insider Peter Douglas Zebedee sold 43,364 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of C$62.53, for a total value of C$2,711,550.92. Also, insider Troy Ward Little sold 8,711 shares of the business’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of C$62.61, for a total transaction of C$545,395.71. 0.01% of the stock is currently owned by corporate insiders.

About Suncor Energy

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.