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.

Other equities analysts have also issued reports about the stock. JPMorgan Chase & Co. upped their price objective on shares of Suncor Energy from C$59.00 to C$64.00 in a report on Thursday, November 6th. Desjardins boosted their target price on Suncor Energy from C$79.00 to C$85.00 and gave the company a “buy” rating in a research report on Thursday, February 5th. Scotiabank raised 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 report on Tuesday, January 20th. National Bank Financial lifted their price objective on Suncor Energy from C$72.00 to C$85.00 and gave the company an “outperform” rating in a research note on Tuesday, February 3rd. Finally, Royal Bank Of Canada increased their target price on Suncor Energy from C$69.00 to C$75.00 and gave the stock an “outperform” rating in a research note on Thursday, February 5th. Six equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Suncor Energy currently has an average rating of “Moderate Buy” and an average target price of C$74.07.

Suncor Energy Price Performance

The stock has a market capitalization of C$94.35 billion, a price-to-earnings 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. The company has a 50 day moving average of C$69.18 and a 200 day moving average of C$62.00.

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

Suncor Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 25th will be given a $0.60 dividend. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.0%. Suncor Energy’s dividend payout ratio is currently 47.63%.

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.