Suncor Energy (TSE:SU) Hits New 12-Month High After Analyst Upgrade

Suncor Energy Inc. (TSE:SU) (NYSE:SU) hit a new 52-week high during trading on Monday after Canadian Imperial Bank of Commerce raised their price target on the stock from C$70.00 to C$88.00. The stock traded as high as C$80.12 and last traded at C$78.53, with a volume of 9364361 shares. The stock had previously closed at C$77.05.

A number of other analysts also recently commented on the stock. Raymond James Financial increased their price objective on shares of Suncor Energy from C$73.00 to C$76.00 and gave the company an “outperform” rating in a report on Thursday, February 5th. JPMorgan Chase & Co. increased their price target on Suncor Energy from C$59.00 to C$64.00 in a report on Thursday, November 6th. Royal Bank Of Canada lifted their price objective on Suncor Energy from C$69.00 to C$75.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. TD Securities upped their target price on Suncor Energy from C$74.00 to C$81.00 in a report on Wednesday, February 4th. Finally, ATB Cormark Capital Markets lifted their price target on Suncor Energy from C$68.00 to C$71.00 and gave the stock a “sector perform” rating in a 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 a consensus rating of “Moderate Buy” and an average price target of C$74.07.

Suncor Energy Price Performance

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 business’s fifty day moving average is C$69.96 and its 200 day moving average is C$62.35. The firm has a market capitalization of C$93.23 billion, a P/E ratio of 16.11, a P/E/G ratio of 0.15 and a beta of 0.89.

Suncor Energy (TSE:SU) (NYSE:SU) last issued its earnings results on Tuesday, February 3rd. The company reported C$1.10 earnings per share for the quarter. The firm had revenue of C$12.04 billion during the quarter. Suncor Energy had a net margin of 12.10% and a return on equity of 13.17%. As a group, analysts forecast that Suncor Energy Inc. will post 4.4208333 EPS for the current year.

Suncor Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 25th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a $2.40 annualized dividend and a dividend yield of 3.1%. Suncor Energy’s dividend payout ratio (DPR) is currently 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.