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

Suncor Energy Inc. (TSE:SU) (NYSE:SU) shares reached a new 52-week high during trading on Monday after Raymond James Financial raised their price target on the stock from C$76.00 to C$93.00. The company traded as high as C$94.32 and last traded at C$93.27, with a volume of 1711552 shares trading hands. The stock had previously closed at C$92.50.

A number of other research firms have also recently issued reports on SU. Canadian Imperial Bank of Commerce boosted their target price on Suncor Energy from C$70.00 to C$88.00 in a research note on Monday, March 2nd. Desjardins lifted their price objective on Suncor Energy from C$79.00 to C$85.00 and gave the company a “buy” rating in a report 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 company an “outperform” rating in a research report on Tuesday, February 3rd. Royal Bank Of Canada increased their target price on Suncor Energy from C$69.00 to C$75.00 and gave the stock an “outperform” rating in a research note on Thursday, February 5th. Finally, Jefferies Financial Group raised their target price on shares of Suncor Energy from C$66.00 to C$82.00 in a report on Monday, March 16th. Six investment analysts have rated the stock with 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 a consensus rating of “Moderate Buy” and an average price target of C$78.79.

Suncor Energy Price Performance

The stock has a market cap of C$109.12 billion, a P/E ratio of 18.96, a PEG ratio of 0.15 and a beta of 0.75. The company has a 50 day simple moving average of C$77.83 and a 200 day simple moving average of C$66.13. The company has a current ratio of 1.39, a quick ratio of 0.83 and a debt-to-equity ratio of 40.74.

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

Suncor Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 25th. Investors of record on Wednesday, March 25th were issued a dividend of $0.60 per share. The ex-dividend date was Wednesday, March 4th. This represents a $2.40 annualized dividend and a yield of 2.6%. Suncor Energy’s dividend payout ratio 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.