Suncor Energy (NYSE:SU) Sets New 12-Month High – What’s Next?

Suncor Energy Inc. (NYSE:SU) (TSE:SU) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $59.14 and last traded at $59.2030, with a volume of 607193 shares trading hands. The stock had previously closed at $58.27.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Royal Bank Of Canada raised 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. The Goldman Sachs Group raised their target price on shares of Suncor Energy from $48.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, January 23rd. Weiss Ratings restated a “buy (b)” rating on shares of Suncor Energy in a report on Monday, December 29th. JPMorgan Chase & Co. upgraded Suncor Energy from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $46.15 to $54.00 in a research note on Tuesday, January 20th. Finally, Zacks Research downgraded Suncor Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 20th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $61.00.

Suncor Energy Price Performance

The company has a market cap of $70.29 billion, a price-to-earnings ratio of 17.01 and a beta of 0.43. The company has a current ratio of 1.39, a quick ratio of 0.89 and a debt-to-equity ratio of 0.20. The company has a fifty day moving average price of $52.69 and a two-hundred day moving average price of $45.81.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its earnings results on Tuesday, February 3rd. The oil and gas producer reported $0.79 EPS for the quarter, topping the consensus estimate of $0.77 by $0.02. Suncor Energy had a return on equity of 12.51% and a net margin of 11.99%.The firm had revenue of $8.77 billion during the quarter, compared to analysts’ expectations of $8.79 billion. During the same period last year, the business earned $1.25 earnings per share. As a group, equities research analysts anticipate that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Wednesday, March 4th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Wednesday, March 4th. Suncor Energy’s dividend payout ratio is 50.72%.

Institutional Investors Weigh In On Suncor Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Atlantic Edge Private Wealth Management LLC grew its holdings in shares of Suncor Energy by 54.9% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 635 shares of the oil and gas producer’s stock worth $28,000 after purchasing an additional 225 shares during the last quarter. Richardson Financial Services Inc. raised its stake in shares of Suncor Energy by 64.1% in the third quarter. Richardson Financial Services Inc. now owns 704 shares of the oil and gas producer’s stock worth $29,000 after acquiring an additional 275 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Suncor Energy during the second quarter worth approximately $31,000. 1 North Wealth Services LLC bought a new stake in shares of Suncor Energy during the fourth quarter valued at approximately $32,000. Finally, Hanson & Doremus Investment Management raised its position in shares of Suncor Energy by 143.5% during the third quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 465 shares during the last quarter. 67.37% of the stock is owned by institutional investors and hedge funds.

Suncor Energy Company Profile

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.