Suncor Energy (NYSE:SU) Hits New 52-Week High – Still a Buy?

Shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) reached a new 52-week high on Thursday . The company traded as high as $53.19 and last traded at $52.9980, with a volume of 4189751 shares. The stock had previously closed at $52.03.

Wall Street Analyst Weigh In

A number of analysts have commented on SU shares. Royal Bank Of Canada reiterated an “outperform” rating and issued a $65.00 price objective on shares of Suncor Energy in a research report on Friday, October 3rd. Wells Fargo & Company assumed coverage on Suncor Energy in a research note on Friday, October 17th. They issued an “equal weight” rating for the company. Zacks Research downgraded shares of Suncor Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 20th. Weiss Ratings restated a “buy (b)” rating on shares of Suncor Energy in a research note on Monday, December 29th. Finally, Raymond James Financial raised shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Thursday, November 6th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $57.67.

Suncor Energy Price Performance

The company’s 50 day moving average price is $46.02 and its 200 day moving average price is $42.54. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.85 and a current ratio of 1.35. The company has a market cap of $63.21 billion, a price-to-earnings ratio of 17.36 and a beta of 0.46.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results on Tuesday, November 4th. The oil and gas producer reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.22. Suncor Energy had a net margin of 10.61% and a return on equity of 13.01%. The business had revenue of $9.04 billion during the quarter, compared to analysts’ expectations of $8.82 billion. During the same quarter last year, the company posted $1.48 EPS. On average, equities research analysts predict that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 24th. Stockholders of record on Wednesday, December 3rd were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.5%. This is an increase from Suncor Energy’s previous quarterly dividend of $0.41. The ex-dividend date was Wednesday, December 3rd. Suncor Energy’s dividend payout ratio is presently 56.39%.

Institutional Investors Weigh In On Suncor Energy

A number of large investors have recently bought and sold shares of the business. Atlantic Edge Private Wealth Management LLC grew its holdings in shares of Suncor Energy by 54.9% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 635 shares of the oil and gas producer’s stock worth $28,000 after purchasing an additional 225 shares during the last quarter. Richardson Financial Services Inc. raised its holdings in shares of Suncor Energy by 64.1% in the third quarter. Richardson Financial Services Inc. now owns 704 shares of the oil and gas producer’s stock valued at $29,000 after buying an additional 275 shares during the last quarter. Headlands Technologies LLC acquired a new position in Suncor Energy during the 2nd quarter worth about $31,000. Hanson & Doremus Investment Management lifted its position in Suncor Energy by 143.5% during the 3rd quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer’s stock worth $33,000 after buying an additional 465 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in Suncor Energy by 95.8% during the 3rd quarter. Smartleaf Asset Management LLC now owns 793 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 388 shares during the last quarter. 67.37% of the stock is currently owned by institutional investors.

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.