Suncor Energy (TSE:SU) Reaches New 12-Month High – Time to Buy?

by · The Markets Daily

Suncor Energy Inc. (TSE:SU – Get Free Report) (NYSE:SU) shares hit a new 52-week high on Monday. The company traded as high as C$112.00 and last traded at C$111.66, with a volume of 814,065 shares changing hands. The stock had previously closed at C$111.18.

Analysts Set New Price Targets

A number of analysts have recently commented on SU shares. ATB Cormark Capital Markets boosted their price objective on shares of Suncor Energy from C$100.00 to C$125.00 and gave the stock an “outperform” rating in a research report on Thursday. Desjardins increased their price target on Suncor Energy from C$110.00 to C$117.00 and gave the company a “buy” rating in a research note on Tuesday, October 20th. TD boosted their price target on Suncor Energy from C$113.00 to C$116.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. JPMorgan Chase & Co. lifted their price target on shares of Suncor Energy from C$107.00 to C$114.00 in a research report on Thursday, August 13th. Finally, Gerdes Energy Research cut shares of Suncor Energy from a “buy” rating to a “neutral” rating and boosted their target price for the company from C$96.00 to C$97.00 in a research report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$103.06.

Check Out Our Latest Analysis on SU

Suncor Energy Trading Up 0.5%

The company has a market capitalization of C$130.68 billion, a P/E ratio of 14.92, a PEG ratio of 0.15 and a beta of 0.18. The company has a debt-to-equity ratio of 30.48, a quick ratio of 0.83 and a current ratio of 1.65. The business has a fifty day moving average of C$98.08 and a 200-day moving average of C$90.99.

Suncor Energy (TSE:SU – Get Free Report) (NYSE:SU) last posted its earnings results on Tuesday, August 4th. The company reported C$3.23 earnings per share (EPS) for the quarter. The firm had revenue of C$17.50 billion during the quarter. Suncor Energy had a net margin of 15.32% and a return on equity of 19.38%. Analysts anticipate that Suncor Energy Inc. will post 4.42 earnings per share for the current fiscal year.

Suncor Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 25th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Friday, September 4th. Suncor Energy’s dividend payout ratio is 31.64%.

Insider Activity

In other Suncor Energy news, insider Curtis Wade Serra sold 2,400 shares of the company’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of C$94.03, for a total value of C$225,672.00. Also, insider Adam Husain Albeldawi sold 1,173 shares of the business’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of C$95.01, for a total transaction of C$111,446.73. In the last 90 days, insiders have sold 79,792 shares of company stock worth $7,294,928. Corporate insiders own 0.01% of the company’s stock.

About Suncor Energy

(Get Free Report)

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.

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