Suncor Energy (TSE:SU) Hits New 12-Month High – Still a 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$89.93 and last traded at C$89.58, with a volume of 1507979 shares changing hands. The stock had previously closed at C$86.70.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on SU shares. Canadian Imperial Bank of Commerce lifted their price objective on shares of Suncor Energy from C$70.00 to C$88.00 in a report on Monday, March 2nd. ATB Cormark Capital Markets raised 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 research report on Thursday, February 5th. Royal Bank Of Canada lifted their price target on Suncor Energy from C$69.00 to C$75.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. National Bank Financial boosted their price objective on Suncor Energy from C$72.00 to C$85.00 and gave the stock an “outperform” rating in a report on Tuesday, February 3rd. Finally, Jefferies Financial Group increased their price objective on Suncor Energy from C$66.00 to C$82.00 in a research note on Monday, March 16th. Six analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of C$75.86.

Suncor Energy Stock Up 1.8%

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 firm has a market capitalization of C$104.77 billion, a P/E ratio of 18.20, a P/E/G ratio of 0.15 and a beta of 0.75. The stock’s 50-day simple moving average is C$75.63 and its 200-day simple moving average is C$64.95.

Suncor Energy (TSE:SU) (NYSE:SU) last posted its earnings results on Tuesday, February 3rd. The company reported C$1.10 EPS for the quarter. Suncor Energy had a net margin of 12.10% and a return on equity of 13.17%. The firm had revenue of C$12.04 billion for the quarter. As a group, research analysts predict that Suncor Energy Inc. will post 4.4208333 earnings per share 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 25th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Wednesday, March 4th. Suncor Energy’s dividend payout ratio (DPR) is presently 47.63%.

Suncor Energy Company Profile

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.