Suncor Energy (NYSE:SU) Sets New 1-Year High – Should You Buy?

Suncor Energy Inc. (NYSE:SU) (TSE:SU)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $67.45 and last traded at $67.2640, with a volume of 16746 shares trading hands. The stock had previously closed at $66.66.

Wall Street Analysts Forecast Growth

SU has been the subject of a number of research reports. Wall Street Zen lowered Suncor Energy from a “buy” rating to a “hold” rating in a research note on Sunday, December 28th. The Goldman Sachs Group raised their target price on Suncor Energy from $55.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, March 12th. Zacks Research lowered Suncor Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 20th. Royal Bank Of Canada upped their price target on shares of Suncor Energy from $69.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, February 5th. Finally, JPMorgan Chase & Co. upgraded shares of Suncor Energy from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $46.15 to $54.00 in a research report on Tuesday, January 20th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Suncor Energy currently has a consensus rating of “Moderate Buy” and an average target price of $63.67.

Suncor Energy Stock Up 1.5%

The stock has a fifty day moving average of $56.56 and a 200-day moving average of $47.70. The firm has a market capitalization of $80.55 billion, a price-to-earnings ratio of 19.47 and a beta of 0.42. The company has a current ratio of 1.39, a quick ratio of 0.89 and a debt-to-equity ratio of 0.20.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings results on Tuesday, February 3rd. The oil and gas producer reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.02. The business had revenue of $8.77 billion during the quarter, compared to analyst estimates of $8.79 billion. Suncor Energy had a return on equity of 12.51% and a net margin of 11.99%.During the same quarter last year, the company posted $1.25 EPS. As a group, sell-side analysts expect that Suncor Energy Inc. will post 3.42 EPS for the current year.

Suncor Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 4th were issued a dividend of $0.60 per share. The ex-dividend date was Wednesday, March 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.5%. Suncor Energy’s payout ratio is currently 50.72%.

Hedge Funds Weigh In On Suncor Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Purpose Unlimited Inc. acquired a new stake in shares of Suncor Energy in the fourth quarter worth $8,997,000. Rockefeller Capital Management L.P. lifted its stake in Suncor Energy by 1.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 217,454 shares of the oil and gas producer’s stock worth $9,646,000 after acquiring an additional 3,442 shares in the last quarter. World Investment Advisors lifted its stake in Suncor Energy by 2.8% in the 4th quarter. World Investment Advisors now owns 28,830 shares of the oil and gas producer’s stock worth $1,279,000 after acquiring an additional 788 shares in the last quarter. Larry Mathis Financial Planning LLC acquired a new stake in Suncor Energy during the 4th quarter worth about $257,000. Finally, Union Savings Bank acquired a new stake in Suncor Energy during the 4th quarter worth about $110,000. Institutional investors and hedge funds own 67.37% of the company’s stock.

About Suncor Energy

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.