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

Suncor Energy Inc. (TSE:SU) (NYSE:SU)’s share price reached a new 52-week high on Tuesday . The company traded as high as C$76.84 and last traded at C$75.77, with a volume of 36660 shares. The stock had previously closed at C$76.25.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. UBS Group increased their price target on shares of Suncor Energy from C$61.00 to C$65.00 in a report on Wednesday, November 5th. TD Securities raised their price objective on Suncor Energy from C$74.00 to C$81.00 in a research note on Wednesday, February 4th. Desjardins lifted their target price on Suncor Energy from C$79.00 to C$85.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. Raymond James Financial increased their price target on Suncor Energy from C$73.00 to C$76.00 and gave the company an “outperform” rating in a report on Thursday, February 5th. Finally, ATB Cormark Capital Markets raised their price target on Suncor Energy from C$68.00 to C$71.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 5th. Six investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$72.79.

Suncor Energy Trading Down 1.7%

The company has a 50 day moving average of C$66.17 and a 200-day moving average of C$60.56. 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 stock has a market cap of C$89.42 billion, a price-to-earnings ratio of 15.45, a price-to-earnings-growth ratio of 0.15 and a beta of 0.89.

Suncor Energy (TSE:SU) (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 return on equity of 18.10% and a net margin of 15.15%. On average, research analysts anticipate that Suncor Energy Inc. will post 4.4208333 earnings per share for the current year.

Suncor Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 24th. Investors of record on Wednesday, December 24th were paid a dividend of $0.60 per share. The ex-dividend date was Wednesday, December 3rd. This is an increase from Suncor Energy’s previous quarterly dividend of $0.57. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.2%. Suncor Energy’s payout ratio is presently 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.