Suncor Energy (TSE:SU) Reaches New 1-Year High After Analyst Upgrade

Suncor Energy Inc. (TSE:SU) (NYSE:SU)’s share price reached a new 52-week high on Wednesday after ATB Capital raised their price target on the stock from C$68.00 to C$71.00. ATB Capital currently has a sector perform rating on the stock. Suncor Energy traded as high as C$75.50 and last traded at C$73.90, with a volume of 3071730 shares trading hands. The stock had previously closed at C$72.85.

SU has been the topic of several other reports. TD Securities increased their price objective on shares of Suncor Energy from C$74.00 to C$81.00 in a research note on Wednesday. Scotiabank increased their price target on shares of Suncor Energy from C$62.00 to C$70.00 and gave the company a “sector perform” rating in a research report on Tuesday, January 20th. Wells Fargo & Company set a C$57.00 price objective on Suncor Energy and gave the stock an “equal weight” rating in a research report on Friday, October 17th. JPMorgan Chase & Co. upped their target price on Suncor Energy from C$59.00 to C$64.00 in a research note on Thursday, November 6th. Finally, UBS Group raised their price target on Suncor Energy from C$61.00 to C$65.00 in a research report on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$72.79.

Insider Transactions at Suncor Energy

In related news, insider Troy Ward Little sold 8,711 shares of the company’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of C$62.61, for a total value of C$545,395.71. Also, insider Kristopher Peter Smith sold 112,600 shares of the firm’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of C$61.74, for a total value of C$6,951,924.00. Following the completion of the sale, the insider directly owned 48,482 shares in the company, valued at approximately C$2,993,278.68. The trade was a 69.90% decrease in their ownership of the stock. Insiders have sold 164,675 shares of company stock worth $10,208,871 over the last quarter. 0.01% of the stock is currently owned by insiders.

Suncor Energy News Summary

Here are the key news stories impacting Suncor Energy this week:

• Positive Sentiment: Desjardins raised its target to C$85.00 and kept a “buy” rating, implying ~16.9% upside versus the current price. Desjardins raise to C$85
• Positive Sentiment: BMO Capital Markets raised its target to C$85.00 and set an “outperform” rating, signaling material upside. BMO raise to C$85
• Positive Sentiment: TD Securities lifted its target to C$81.00, representing double-digit upside from recent levels. TD raise to C$81
• Positive Sentiment: National Bankshares raised its target to C$85.00, reinforcing bullish analyst sentiment. National Bankshares boost to C$85
• Positive Sentiment: Raymond James increased its target to C$76.00 and kept an “outperform” view, adding to the cluster of upward revisions. Raymond James raise to C$76
• Positive Sentiment: RBC raised its target to C$75.00 and maintained an “outperform” call. RBC raise to C$75
• Positive Sentiment: Suncor reported a Q4 beat and quarterly-record production, supporting the bullish analyst moves despite soft oil prices. Q4 beat & record production
• Negative Sentiment: ATB Capital raised its target to C$71.00 but kept a “sector perform” rating; that target implies slight downside from current levels and is a more cautious take amid the broader bullishness. ATB raise to C$71

Suncor Energy Price Performance

The stock has a market cap of C$87.36 billion, a price-to-earnings ratio of 16.95, a price-to-earnings-growth ratio of 0.15 and a beta of 0.89. 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 business’s fifty day simple moving average is C$64.35 and its 200 day simple moving average is C$59.46.

Suncor Energy (TSE:SU) (NYSE:SU) last posted its quarterly earnings data on Tuesday, February 3rd. The company reported C$1.10 EPS for the quarter. Suncor Energy had a net margin of 15.15% and a return on equity of 18.10%. Research analysts predict that Suncor Energy Inc. will post 4.4208333 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The company also recently disclosed 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. This represents a $2.40 annualized dividend and a yield of 3.3%. This is a boost from Suncor Energy’s previous quarterly dividend of $0.57. The ex-dividend date was Wednesday, December 3rd. Suncor Energy’s dividend payout ratio (DPR) is 53.15%.

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.