Suncor Energy (NYSE:SU) Sets New 1-Year High – What’s Next?

Shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $58.30 and last traded at $57.8090, with a volume of 641938 shares traded. The stock had previously closed at $56.52.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SU. The Goldman Sachs Group upped their target price on Suncor Energy from $48.00 to $54.00 and gave the stock a “buy” rating in a research note on Friday, January 23rd. Zacks Research cut shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Wall Street Zen lowered shares of Suncor Energy from a “buy” rating to a “hold” rating in a research report on Sunday, December 28th. JPMorgan Chase & Co. raised shares of Suncor Energy from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $46.15 to $54.00 in a research note on Tuesday, January 20th. Finally, Raymond James Financial upgraded shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 6th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.00.

Suncor Energy Stock Up 2.9%

The company has a market cap of $69.19 billion, a PE ratio of 16.80 and a beta of 0.46. The stock’s 50 day moving average price is $50.46 and its 200-day moving average price is $44.81. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.89 and a current ratio of 1.39.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its earnings results on Tuesday, February 3rd. The oil and gas producer reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.02. The company had revenue of $8.77 billion for the quarter, compared to analysts’ expectations of $8.79 billion. Suncor Energy had a net margin of 11.99% and a return on equity of 12.51%. During the same quarter last year, the company earned $1.25 EPS. On average, analysts predict that Suncor Energy Inc. will post 3.42 earnings per share for the current year.

Suncor Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Wednesday, March 4th will be issued a dividend of $0.60 per share. The ex-dividend date is Wednesday, March 4th. This represents a $2.40 annualized dividend and a yield of 4.1%. Suncor Energy’s dividend payout ratio is currently 50.14%.

Institutional Trading of Suncor Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Artisan Partners Limited Partnership increased its stake in shares of Suncor Energy by 38.5% in the second quarter. Artisan Partners Limited Partnership now owns 33,722,975 shares of the oil and gas producer’s stock worth $1,264,043,000 after buying an additional 9,378,552 shares during the period. Fisher Asset Management LLC grew its holdings in Suncor Energy by 85.5% in the 3rd quarter. Fisher Asset Management LLC now owns 15,530,965 shares of the oil and gas producer’s stock worth $649,350,000 after acquiring an additional 7,158,953 shares during the last quarter. AQR Capital Management LLC grew its holdings in Suncor Energy by 7,636.8% in the 4th quarter. AQR Capital Management LLC now owns 6,016,483 shares of the oil and gas producer’s stock worth $267,042,000 after acquiring an additional 5,938,719 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Suncor Energy by 62.2% in the third quarter. Arrowstreet Capital Limited Partnership now owns 13,335,239 shares of the oil and gas producer’s stock valued at $557,682,000 after acquiring an additional 5,113,280 shares during the period. Finally, FIL Ltd raised its stake in shares of Suncor Energy by 14.0% during the fourth quarter. FIL Ltd now owns 21,050,387 shares of the oil and gas producer’s stock valued at $934,312,000 after acquiring an additional 2,592,516 shares during the last quarter. Institutional investors own 67.37% of the company’s stock.

Suncor Energy Company Profile

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company’s operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.