Suncor Energy (TSE:SU) Reaches New 52-Week High on Analyst Upgrade

Suncor Energy Inc. (TSE:SU) (NYSE:SU)’s stock price reached a new 52-week high during trading on Friday after Desjardins upgraded the stock from a hold rating to a moderate buy rating. The company traded as high as C$57.50 and last traded at C$57.46, with a volume of 580157 shares trading hands. The stock had previously closed at C$56.84.

Several other research firms have also weighed in on SU. Raymond James lifted their price objective on Suncor Energy from C$52.00 to C$56.00 in a research report on Thursday. National Bankshares boosted their target price on shares of Suncor Energy from C$73.00 to C$76.00 in a research report on Thursday. Wolfe Research raised shares of Suncor Energy to a “strong-buy” rating in a research note on Thursday, July 18th. TD Securities lifted their price target on shares of Suncor Energy from C$60.00 to C$62.00 in a research note on Wednesday. Finally, Royal Bank of Canada increased their price objective on shares of Suncor Energy from C$64.00 to C$66.00 in a research report on Thursday. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$61.54.

Insiders Place Their Bets

In other news, Senior Officer Jacqueline Sue Moore sold 37,700 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of C$56.54, for a total value of C$2,131,558.00. 0.01% of the stock is owned by corporate insiders.

Suncor Energy Stock Performance

The company has a 50-day moving average of C$52.61 and a 200 day moving average of C$53.10. The firm has a market capitalization of C$72.39 billion, a PE ratio of 9.82, a PEG ratio of 0.15 and a beta of 1.47. The company has a quick ratio of 0.83, a current ratio of 1.46 and a debt-to-equity ratio of 34.98.

Suncor Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 25th were given a $0.545 dividend. This represents a $2.18 annualized dividend and a dividend yield of 3.82%. The ex-dividend date was Wednesday, September 4th. Suncor Energy’s dividend payout ratio (DPR) is 37.46%.

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.