Suncor Energy (TSE:SU) Sets New 1-Year High After Analyst Upgrade

Shares of Suncor Energy Inc. (TSE:SU) (NYSE:SU) hit a new 52-week high during trading on Tuesday after Desjardins raised their price target on the stock from C$110.00 to C$117.00. Desjardins currently has a buy rating on the stock. Suncor Energy traded as high as C$110.98 and last traded at C$110.63, with a volume of 2,968,660 shares traded. The stock had previously closed at C$110.25.

Several other research analysts have also recently commented on the stock. BMO Capital Markets increased their target price on shares of Suncor Energy from C$100.00 to C$105.00 in a report on Wednesday, August 5th. National Bank Financial lowered their price target on shares of Suncor Energy from C$146.00 to C$145.00 and set an “outperform” rating on the stock in a research note on Tuesday. Royal Bank Of Canada boosted their price target on shares of Suncor Energy from C$100.00 to C$110.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 13th. Gerdes Energy Research downgraded shares of Suncor Energy from a “buy” rating to a “neutral” rating and increased their price objective for the stock from C$96.00 to C$97.00 in a research note on Wednesday, July 22nd. Finally, Scotiabank upgraded shares of Suncor Energy to a “strong-buy” rating in a research note on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Suncor Energy has an average rating of “Moderate Buy” and an average price target of C$102.12.

Insider Activity

In other news, insider Curtis Wade Serra sold 2,400 shares of Suncor Energy stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of C$94.03, for a total value of C$225,672.00. Also, insider Shelley Powell sold 41,911 shares of Suncor Energy stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of C$87.60, for a total transaction of C$3,671,403.60. Following the completion of the transaction, the insider directly owned 27,705 shares of the company’s stock, valued at approximately C$2,426,958. This trade represents a 60.20% decrease in their position. Over the last three months, insiders have sold 79,792 shares of company stock worth $7,294,928. Corporate insiders own 0.01% of the company’s stock.

Suncor Energy Price Performance

The firm has a market capitalization of C$129.68 billion, a price-to-earnings ratio of 14.80, a P/E/G ratio of 0.15 and a beta of 0.18. The company’s 50 day moving average is C$97.34 and its 200-day moving average is C$90.74. The company has a current ratio of 1.65, a quick ratio of 0.83 and a debt-to-equity ratio of 30.48.

Suncor Energy (TSE:SU) (NYSE:SU) last posted its quarterly earnings results on Tuesday, August 4th. The company reported C$3.23 EPS for the quarter. The business had revenue of C$17.50 billion during the quarter. Suncor Energy had a return on equity of 19.38% and a net margin of 15.32%. Equities research analysts anticipate that Suncor Energy Inc. will post 4.42 earnings per share for the current year.

Suncor Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 25th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Friday, September 4th. Suncor Energy’s payout ratio is currently 31.64%.

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.