Suncor Energy (TSE:SU) Hits New 52-Week High – Here’s What Happened
by Mitch Edgeman · The Markets DailySuncor Energy Inc. (TSE:SU – Get Free Report) (NYSE:SU) shares reached a new 52-week high during mid-day trading on Friday . The stock traded as high as C$70.55 and last traded at C$70.08, with a volume of 1562893 shares traded. The stock had previously closed at C$68.72.
Analysts Set New Price Targets
Several analysts have weighed in on SU shares. UBS Group boosted their price objective on Suncor Energy from C$61.00 to C$65.00 in a research report on Wednesday, November 5th. Wells Fargo & Company set a C$57.00 target price on shares of Suncor Energy and gave the stock an “equal weight” rating in a research note on Friday, October 17th. CIBC upped their price target on shares of Suncor Energy from C$65.00 to C$70.00 in a report on Thursday, November 27th. Desjardins raised their price target on shares of Suncor Energy from C$73.00 to C$74.00 and gave the stock a “buy” rating in a report on Friday, December 12th. Finally, TD Securities boosted their price objective on shares of Suncor Energy from C$71.00 to C$73.00 and gave the company a “buy” rating in a research report on Friday, December 12th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of C$68.23.
Get Our Latest Stock Analysis on Suncor Energy
Suncor Energy Trading Up 1.6%
The company has a debt-to-equity ratio of 33.35, a quick ratio of 0.83 and a current ratio of 1.59. The firm has a market capitalization of C$83.91 billion, a PE ratio of 16.28, a P/E/G ratio of 0.15 and a beta of 0.79. The stock’s 50-day simple moving average is C$62.56 and its 200-day simple moving average is C$58.21.
Suncor Energy (TSE:SU – Get Free Report) (NYSE:SU) last announced its earnings results on Tuesday, November 4th. The company reported C$1.48 earnings per share for the quarter. Suncor Energy had a net margin of 15.15% and a return on equity of 18.10%. The firm had revenue of C$12.55 billion for the quarter. As a group, sell-side analysts expect that Suncor Energy Inc. will post 4.4208333 EPS for the current fiscal year.
Suncor Energy Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, December 24th. Investors of record on Wednesday, December 24th were paid a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, December 3rd. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.57. This represents a $2.40 annualized dividend and a yield of 3.4%. Suncor Energy’s payout ratio is currently 53.15%.
Insiders Place Their Bets
In other Suncor Energy news, insider Peter Douglas Zebedee sold 43,364 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of C$62.53, for a total value of C$2,711,550.92. Also, insider Troy Ward Little sold 8,711 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of C$62.61, for a total transaction of C$545,395.71. Over the last 90 days, insiders sold 164,675 shares of company stock worth $10,208,871. 0.01% of the stock is owned by corporate insiders.
About Suncor Energy
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.