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

Suncor Energy Inc. (TSE:SU) (NYSE:SU)’s share price hit a new 52-week high during trading on Monday after Desjardins raised their price target on the stock from C$48.50 to C$54.00. Desjardins currently has a hold rating on the stock. Suncor Energy traded as high as C$53.85 and last traded at C$53.58, with a volume of 1945192 shares trading hands. The stock had previously closed at C$52.99.

Other equities analysts have also issued reports about the stock. Jefferies Financial Group raised their target price on shares of Suncor Energy from C$50.00 to C$53.00 and gave the stock a “hold” rating in a research report on Friday, April 12th. Wells Fargo & Company raised their target price on shares of Suncor Energy from C$55.00 to C$60.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. National Bankshares raised their target price on shares of Suncor Energy from C$57.00 to C$75.00 and gave the stock an “outperform” rating in a research report on Friday, April 19th. BMO Capital Markets raised their target price on shares of Suncor Energy from C$52.00 to C$55.00 in a research report on Thursday, March 28th. Finally, CIBC raised their target price on shares of Suncor Energy from C$60.00 to C$65.00 and gave the stock an “outperform” rating in a research report on Monday. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Suncor Energy presently has a consensus rating of “Hold” and an average target price of C$57.62.

Insider Buying and Selling

In related news, Senior Officer Jacqueline Sue Moore sold 12,000 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of C$45.83, for a total transaction of C$549,960.00. In other Suncor Energy news, Senior Officer Shelley Powell sold 16,400 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of C$45.84, for a total value of C$751,776.00. Also, Senior Officer Jacqueline Sue Moore sold 12,000 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of C$45.83, for a total value of C$549,960.00. Corporate insiders own 0.01% of the company’s stock.

Suncor Energy Trading Down 0.1 %

The company has a quick ratio of 0.83, a current ratio of 1.44 and a debt-to-equity ratio of 36.52. The business has a fifty day simple moving average of C$48.93 and a 200 day simple moving average of C$45.79. The company has a market cap of C$68.98 billion, a price-to-earnings ratio of 8.45, a P/E/G ratio of 0.15 and a beta of 1.52.

Suncor Energy (TSE:SU) (NYSE:SU) last released its quarterly earnings results on Wednesday, February 21st. The company reported C$1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of C$1.05 by C$0.21. The business had revenue of C$14.14 billion during the quarter, compared to the consensus estimate of C$11.33 billion. Suncor Energy had a return on equity of 20.07% and a net margin of 16.90%. On average, equities analysts anticipate that Suncor Energy Inc. will post 4.7415525 EPS for the current fiscal year.

Suncor Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Monday, March 4th were paid a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a dividend yield of 4.08%. The ex-dividend date was Friday, March 1st. Suncor Energy’s dividend payout ratio (DPR) is presently 34.44%.

About Suncor Energy

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.