Suncor Energy (NYSE:SU) Hits New 12-Month High at $39.34

Suncor Energy Inc. (NYSE:SU - Get Free Report) TSE: SU's stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $39.34 and last traded at $39.28, with a volume of 1575546 shares changing hands. The stock had previously closed at $38.54.

Analysts Set New Price Targets

SU has been the subject of several recent research reports. Morgan Stanley boosted their price target on Suncor Energy from $50.00 to $52.00 and gave the company an "overweight" rating in a report on Thursday, March 28th. StockNews.com raised Suncor Energy from a "hold" rating to a "buy" rating in a research note on Friday, April 12th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Suncor Energy has an average rating of "Moderate Buy" and a consensus target price of $52.00.

Suncor Energy Stock Performance

The stock has a market cap of $50.30 billion, a P/E ratio of 8.31, a price-to-earnings-growth ratio of 3.40 and a beta of 1.13. The company has a quick ratio of 0.88, a current ratio of 1.44 and a debt-to-equity ratio of 0.26. The business has a 50 day moving average price of $35.88 and a two-hundred day moving average price of $33.74.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last posted its earnings results on Wednesday, February 21st. The oil and gas producer reported $0.93 EPS for the quarter, topping analysts' consensus estimates of $0.80 by $0.13. The company had revenue of $10.39 billion for the quarter, compared to the consensus estimate of $8.46 billion. Suncor Energy had a return on equity of 16.08% and a net margin of 16.33%. During the same period in the previous year, the business earned $1.33 earnings per share. On average, sell-side analysts forecast that Suncor Energy Inc. will post 3.78 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Monday, March 4th were given a $0.406 dividend. This is an increase from Suncor Energy's previous quarterly dividend of $0.39. This represents a $1.62 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date of this dividend was Friday, March 1st. Suncor Energy's payout ratio is currently 34.26%.

Institutional Investors Weigh In On Suncor Energy

A number of hedge funds have recently made changes to their positions in SU. CWM LLC lifted its position in shares of Suncor Energy by 24.0% in the third quarter. CWM LLC now owns 3,361 shares of the oil and gas producer's stock worth $116,000 after buying an additional 650 shares in the last quarter. AE Wealth Management LLC raised its position in Suncor Energy by 8.8% during the third quarter. AE Wealth Management LLC now owns 8,926 shares of the oil and gas producer's stock valued at $307,000 after purchasing an additional 723 shares during the period. IFP Advisors Inc raised its position in Suncor Energy by 25.8% during the third quarter. IFP Advisors Inc now owns 2,439 shares of the oil and gas producer's stock valued at $84,000 after purchasing an additional 500 shares during the period. Venture Visionary Partners LLC purchased a new stake in Suncor Energy during the third quarter valued at approximately $238,000. Finally, Global Retirement Partners LLC raised its position in Suncor Energy by 65.6% during the third quarter. Global Retirement Partners LLC now owns 1,676 shares of the oil and gas producer's stock valued at $53,000 after purchasing an additional 664 shares during the period. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

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.