Suncor Energy (TSE:SU) Sets New 52-Week High – Here’s What Happened

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

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. National Bank Financial lifted their price target on shares of Suncor Energy from C$72.00 to C$85.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 3rd. UBS Group boosted their target price on shares of Suncor Energy from C$61.00 to C$65.00 in a research note on Wednesday, November 5th. JPMorgan Chase & Co. lifted their price target on Suncor Energy from C$59.00 to C$64.00 in a report on Thursday, November 6th. Royal Bank Of Canada increased their price objective on Suncor Energy from C$69.00 to C$75.00 and gave the company an “outperform” rating in a report on Thursday, February 5th. Finally, Canadian Imperial Bank of Commerce upped their price target on Suncor Energy from C$65.00 to C$70.00 in a report on Thursday, November 27th. Six investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of C$72.79.

Suncor Energy Stock Performance

The stock’s 50-day moving average is C$65.87 and its 200 day moving average is C$60.33. The stock has a market cap of C$91.01 billion, a price-to-earnings ratio of 15.72, a P/E/G ratio of 0.15 and a beta of 0.89. The company has a debt-to-equity ratio of 33.35, a current ratio of 1.59 and a quick ratio of 0.83.

Suncor Energy (TSE:SU) (NYSE:SU) last issued its earnings results on Tuesday, February 3rd. The company reported C$1.10 earnings per share (EPS) for the quarter. Suncor Energy had a return on equity of 18.10% and a net margin of 15.15%. As a group, analysts predict that Suncor Energy Inc. will post 4.4208333 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 24th. Shareholders of record on Wednesday, December 24th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Wednesday, December 3rd. This is an increase from Suncor Energy’s previous quarterly dividend of $0.57. Suncor Energy’s payout ratio is presently 47.63%.

Insider Transactions at Suncor Energy

In related news, insider Troy Ward Little sold 8,711 shares of the firm’s stock in a transaction dated 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 company’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of C$62.53, for a total transaction of C$2,711,550.92. Company insiders own 0.01% of the company’s stock.

Suncor Energy Company Profile

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.