Suncor Energy (NYSE:SU) Hits New 1-Year High – What’s Next?

Suncor Energy Inc. (NYSE:SU) (TSE:SU) reached a new 52-week high during trading on Thursday . The stock traded as high as $68.09 and last traded at $67.7640, with a volume of 835381 shares changing hands. The stock had previously closed at $67.07.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Zacks Research upgraded Suncor Energy from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 2nd. Royal Bank Of Canada boosted their price objective on Suncor Energy from $75.00 to $89.00 and gave the company an “outperform” rating in a report on Wednesday, April 1st. ATB Cormark Capital Markets upgraded Suncor Energy from a “hold” rating to a “moderate buy” rating in a report on Wednesday, April 1st. JPMorgan Chase & Co. upgraded Suncor Energy from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $46.15 to $54.00 in a report on Tuesday, January 20th. Finally, The Goldman Sachs Group boosted their price objective on Suncor Energy from $66.00 to $73.00 and gave the company a “buy” rating in a report on Wednesday, April 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $72.00.

Suncor Energy Stock Performance

The company has a fifty day moving average price of $62.02 and a 200 day moving average price of $51.43. The stock has a market cap of $80.03 billion, a P/E ratio of 19.48 and a beta of 0.32. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.39 and a quick ratio of 0.89.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings results on Tuesday, February 3rd. The oil and gas producer reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.02. Suncor Energy had a return on equity of 12.51% and a net margin of 11.99%.The business had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.79 billion. During the same quarter in the prior year, the company posted $1.25 earnings per share. On average, equities analysts expect that Suncor Energy Inc. will post 6.72 EPS for the current year.

Suncor Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 25th. Investors of record on Wednesday, March 4th were issued a dividend of $0.60 per share. The ex-dividend date was Wednesday, March 4th. This represents a $2.40 annualized dividend and a yield of 3.6%. Suncor Energy’s dividend payout ratio is 50.43%.

Institutional Investors Weigh In On Suncor Energy

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Suncor Energy by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 55,720,921 shares of the oil and gas producer’s stock worth $2,473,173,000 after buying an additional 1,166,405 shares in the last quarter. Artisan Partners Limited Partnership grew its holdings in Suncor Energy by 0.4% during the third quarter. Artisan Partners Limited Partnership now owns 33,868,775 shares of the oil and gas producer’s stock worth $1,417,029,000 after buying an additional 145,800 shares in the last quarter. Dodge & Cox grew its holdings in Suncor Energy by 0.3% during the third quarter. Dodge & Cox now owns 27,471,954 shares of the oil and gas producer’s stock worth $1,148,602,000 after buying an additional 70,300 shares in the last quarter. FIL Ltd grew its holdings in Suncor Energy by 14.0% during the fourth quarter. FIL Ltd now owns 21,050,387 shares of the oil and gas producer’s stock worth $934,312,000 after buying an additional 2,592,516 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in Suncor Energy by 2.7% in the fourth quarter. Principal Financial Group Inc. now owns 19,371,704 shares of the oil and gas producer’s stock worth $860,933,000 after purchasing an additional 516,783 shares during the last quarter. Institutional investors own 67.37% of the company’s stock.

Suncor Energy Company Profile

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company’s operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.