Suncor Energy (NYSE:SU) Reaches New 12-Month High at $41.17

Suncor Energy Inc. (NYSE:SU) (TSE:SU)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $41.17 and last traded at $41.14, with a volume of 2568452 shares changing hands. The stock had previously closed at $39.85.

Wall Street Analysts Forecast Growth

SU has been the subject of a number of research analyst reports. Morgan Stanley increased their target price on shares of Suncor Energy from $50.00 to $52.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. TD Securities lifted their target price on shares of Suncor Energy from $52.00 to $57.00 and gave the stock a “hold” rating in a research note on Wednesday. Finally, StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, May 16th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.00.

Suncor Energy Price Performance

The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.97 and a current ratio of 1.51. The stock has a market cap of $52.06 billion, a price-to-earnings ratio of 9.02, a price-to-earnings-growth ratio of 3.69 and a beta of 1.11. The business’s fifty day simple moving average is $38.30 and its 200 day simple moving average is $34.64.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its earnings results on Wednesday, February 21st. The oil and gas producer reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.13. The business had revenue of $10.39 billion for the quarter, compared to analyst estimates of $8.46 billion. Suncor Energy had a net margin of 15.38% and a return on equity of 15.69%. During the same quarter in the prior year, the business posted $1.33 EPS. Research analysts predict that Suncor Energy Inc. will post 3.71 EPS for the current fiscal year.

Suncor Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Tuesday, June 4th will be paid a $0.395 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $1.58 dividend on an annualized basis and a dividend yield of 3.90%. Suncor Energy’s dividend payout ratio (DPR) is presently 35.86%.

Institutional Investors Weigh In On Suncor Energy

Institutional investors have recently modified their holdings of the business. Vanguard Personalized Indexing Management LLC grew its position in Suncor Energy by 10.7% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 29,873 shares of the oil and gas producer’s stock worth $957,000 after purchasing an additional 2,895 shares during the last quarter. Vanguard Group Inc. grew its position in Suncor Energy by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 50,379,614 shares of the oil and gas producer’s stock worth $1,732,051,000 after purchasing an additional 731,163 shares during the last quarter. JPMorgan Chase & Co. grew its position in Suncor Energy by 13.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,348,348 shares of the oil and gas producer’s stock worth $183,876,000 after purchasing an additional 628,262 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Suncor Energy by 1,689.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 565,339 shares of the oil and gas producer’s stock valued at $18,118,000 after acquiring an additional 533,754 shares in the last quarter. Finally, FMR LLC boosted its holdings in shares of Suncor Energy by 0.3% in the third quarter. FMR LLC now owns 17,248,932 shares of the oil and gas producer’s stock valued at $593,188,000 after acquiring an additional 49,765 shares in the last quarter. Institutional investors own 67.37% of the company’s stock.

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.