Suncor Energy (TSE:SU) Hits New 1-Year High – What’s Next?
by Tristan Rich · The Markets DailySuncor Energy Inc. (TSE:SU – Get Free Report) (NYSE:SU)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$81.76 and last traded at C$81.58, with a volume of 1929200 shares traded. The stock had previously closed at C$79.10.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on the stock. Canadian Imperial Bank of Commerce increased their price target on shares of Suncor Energy from C$70.00 to C$88.00 in a research report on Monday, March 2nd. BMO Capital Markets boosted their price objective on shares of Suncor Energy from C$69.00 to C$85.00 and gave the company an “outperform” rating in a report on Wednesday, February 4th. Scotiabank increased their target price on shares of Suncor Energy from C$62.00 to C$70.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 20th. Royal Bank Of Canada increased their target price on shares of Suncor Energy from C$69.00 to C$75.00 and gave the stock an “outperform” rating in a report on Thursday, February 5th. Finally, ATB Cormark Capital Markets boosted their price target on shares of Suncor Energy from C$68.00 to C$71.00 and gave the company a “sector perform” rating in a report on Thursday, February 5th. Six research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$74.07.
View Our Latest Stock Report on Suncor Energy
Suncor Energy Price Performance
The company has a current ratio of 1.39, a quick ratio of 0.83 and a debt-to-equity ratio of 40.74. The company has a 50 day simple moving average of C$72.16 and a 200 day simple moving average of C$63.31. The stock has a market cap of C$96.83 billion, a P/E ratio of 16.82, a PEG ratio of 0.15 and a beta of 0.75.
Suncor Energy (TSE:SU – Get Free Report) (NYSE:SU) last issued its quarterly earnings results on Tuesday, February 3rd. The company reported C$1.10 earnings per share for the quarter. Suncor Energy had a net margin of 12.10% and a return on equity of 13.17%. The company had revenue of C$12.04 billion during the quarter. Sell-side analysts forecast that Suncor Energy Inc. will post 4.4208333 earnings per share for the current fiscal year.
Suncor Energy Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Wednesday, March 25th will be given a $0.60 dividend. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a $2.40 dividend on an annualized basis and a yield of 2.9%. Suncor Energy’s dividend payout ratio (DPR) is 47.63%.
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.