Suncor Energy (TSE:SU) Reaches New 52-Week High – Here’s Why

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on SU. JPMorgan Chase & Co. boosted their target price on shares of Suncor Energy from C$59.00 to C$64.00 in a research note on Thursday, November 6th. Desjardins lifted their target price on Suncor Energy from C$79.00 to C$85.00 and gave the company a “buy” rating in a research note on Thursday, February 5th. Gerdes Energy Research upped their price target on Suncor Energy from C$75.00 to C$78.00 in a research report on Monday, November 10th. National Bankshares increased their price objective on shares of Suncor Energy from C$72.00 to C$85.00 and gave the company an “outperform” rating in a research report on Tuesday, February 3rd. Finally, BMO Capital Markets boosted their price target on Suncor Energy from C$69.00 to C$85.00 and gave the company an “outperform” rating in a research note on Wednesday, February 4th. Six equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Suncor Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of C$72.79.

Suncor Energy Stock Performance

The stock has a 50-day moving average of C$65.04 and a 200 day moving average of C$59.97. The company has a quick ratio of 0.83, a current ratio of 1.59 and a debt-to-equity ratio of 33.35. The stock has a market cap of C$90.58 billion, a PE ratio of 15.65, a P/E/G ratio of 0.15 and a beta of 0.89.

Suncor Energy (TSE:SU) (NYSE:SU) last announced 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 net margin of 15.15% and a return on equity of 18.10%. Equities analysts predict that Suncor Energy Inc. will post 4.4208333 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 24th. Shareholders of record on Wednesday, December 24th were issued a dividend of $0.60 per share. This is a boost from Suncor Energy’s previous quarterly dividend of $0.57. The ex-dividend date was Wednesday, December 3rd. This represents a $2.40 dividend on an annualized basis and a yield of 3.2%. Suncor Energy’s dividend payout ratio (DPR) is currently 47.63%.

Insider Activity

In related news, insider Troy Ward Little sold 8,711 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$62.61, for a total value of C$545,395.71. Also, insider Peter Douglas Zebedee sold 43,364 shares of the business’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. Company insiders own 0.01% of the company’s stock.

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.