Suncor Energy (NYSE:SU) Hits New 12-Month High at $37.00

Suncor Energy Inc. (NYSE:SU - Get Free Report) TSE: SU's share price hit a new 52-week high on Monday . The company traded as high as $37.00 and last traded at $37.00, with a volume of 2284 shares changing hands. The stock had previously closed at $36.91.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley increased their price target on shares of Suncor Energy from $50.00 to $52.00 and gave the company an "overweight" rating in a report on Thursday. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $52.00.

Suncor Energy Stock Up 1.1 %

The company has a current ratio of 1.44, a quick ratio of 0.88 and a debt-to-equity ratio of 0.26. The firm has a market cap of $48.06 billion, a P/E ratio of 7.89, a price-to-earnings-growth ratio of 3.44 and a beta of 1.13. The firm's 50 day moving average is $33.98 and its two-hundred day moving average is $33.27.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last issued its earnings results on Wednesday, February 21st. The oil and gas producer reported $0.93 earnings per share for the quarter, topping analysts' consensus estimates of $0.80 by $0.13. The business had revenue of $10.39 billion for the quarter, compared to the consensus estimate of $8.46 billion. Suncor Energy had a net margin of 16.33% and a return on equity of 16.08%. During the same period in the previous year, the company earned $1.33 earnings per share. As a group, research analysts anticipate that Suncor Energy Inc. will post 3.58 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Monday, March 4th were given a dividend of $0.406 per share. This is a boost from Suncor Energy's previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.62 annualized dividend and a yield of 4.35%. Suncor Energy's dividend payout ratio is currently 34.26%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Suncor Energy by 1.5% in the third quarter. Vanguard Group Inc. now owns 50,379,614 shares of the oil and gas producer's stock valued at $1,732,051,000 after buying an additional 731,163 shares during the period. Ninepoint Partners LP acquired a new position in shares of Suncor Energy in the third quarter valued at approximately $77,355,000. JPMorgan Chase & Co. increased its stake in shares of Suncor Energy by 13.3% in the third quarter. JPMorgan Chase & Co. now owns 5,348,348 shares of the oil and gas producer's stock valued at $183,876,000 after buying an additional 628,262 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Suncor Energy by 1,689.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 565,339 shares of the oil and gas producer's stock valued at $18,118,000 after buying an additional 533,754 shares during the period. Finally, FMR LLC boosted its holdings in Suncor Energy by 0.3% in the third quarter. FMR LLC now owns 17,248,932 shares of the oil and gas producer's stock valued at $593,188,000 after acquiring an additional 49,765 shares during the last quarter. Institutional investors and hedge funds own 67.37% of the company's stock.

About Suncor Energy

Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.