Suncor Energy (NYSE:SU) Reaches New 12-Month High at $41.95

Shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) hit a new 52-week high during trading on Monday . The stock traded as high as $41.95 and last traded at $41.66, with a volume of 933430 shares traded. The stock had previously closed at $40.84.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on SU shares. The Goldman Sachs Group lifted their price target on shares of Suncor Energy from $38.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. BMO Capital Markets raised Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 7th. Raymond James upgraded Suncor Energy to a “hold” rating in a report on Tuesday, May 28th. Wolfe Research assumed coverage on Suncor Energy in a research note on Thursday, July 18th. They issued an “outperform” rating and a $68.00 price objective on the stock. Finally, TD Securities raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Suncor Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.86.

Suncor Energy Stock Performance

The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.93 and a current ratio of 1.46. The stock has a fifty day simple moving average of $38.67 and a two-hundred day simple moving average of $37.68. The stock has a market cap of $53.44 billion, a PE ratio of 9.10, a PEG ratio of 2.84 and a beta of 1.12.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings results on Tuesday, August 6th. The oil and gas producer reported $1.27 EPS for the quarter, topping the consensus estimate of $0.76 by $0.51. Suncor Energy had a return on equity of 16.22% and a net margin of 14.40%. The business had revenue of $12.90 billion for the quarter, compared to analysts’ expectations of $9.30 billion. During the same quarter in the previous year, the firm posted $0.71 earnings per share. The company’s revenue was up 10.1% compared to the same quarter last year. Equities analysts anticipate that Suncor Energy Inc. will post 3.64 EPS for the current fiscal year.

Suncor Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th will be issued a $0.395 dividend. This represents a $1.58 annualized dividend and a yield of 3.79%. The ex-dividend date of this dividend is Wednesday, September 4th. Suncor Energy’s dividend payout ratio is currently 34.97%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Vanguard Personalized Indexing Management LLC boosted its position in Suncor Energy by 10.7% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 29,873 shares of the oil and gas producer’s stock valued at $957,000 after purchasing an additional 2,895 shares during the period. Sanders Capital LLC grew its position in shares of Suncor Energy by 2.8% during the fourth quarter. Sanders Capital LLC now owns 57,318,037 shares of the oil and gas producer’s stock worth $1,836,470,000 after acquiring an additional 1,568,629 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Suncor Energy by 2,358.4% in the 1st quarter. BNP Paribas Financial Markets now owns 17,209 shares of the oil and gas producer’s stock worth $635,000 after acquiring an additional 16,509 shares during the period. Empowered Funds LLC bought a new stake in Suncor Energy in the 1st quarter valued at about $2,940,000. Finally, Artisan Partners Limited Partnership boosted its stake in Suncor Energy by 0.9% during the 4th quarter. Artisan Partners Limited Partnership now owns 20,530,994 shares of the oil and gas producer’s stock valued at $657,772,000 after purchasing an additional 182,289 shares during the period. 67.37% of the stock is currently owned by institutional investors.

Suncor Energy Company Profile

Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.