Suncor Energy (NYSE:SU) Hits New 1-Year High - Time to Buy?

Key Points

• Suncor Energy reached a new 52-week high, trading as high as $75.55 and gaining 2.3%; its market capitalization is approximately $87.9 billion.
• Analyst sentiment is broadly positive, with a consensus “Buy” rating and an average price target of $79.62. Recent upgrades include Zacks Research’s move to “Strong Buy.”
• Suncor reported quarterly EPS of $2.33, exceeding the $2.14 estimate, while revenue also topped expectations. The company pays a quarterly dividend of C$0.60 per share, representing a 3.2% yield.

Suncor Energy Inc. (NYSE:SU - Get Free Report) TSE: SU hit a new 52-week high during trading on Wednesday. The stock traded as high as $75.55 and last traded at $75.1790, with a volume of 3,692,044 shares traded. The stock had previously closed at $73.51.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SU. Weiss Ratings raised shares of Suncor Energy from a "buy (b)" rating to a "buy (a-)" rating in a research note on Thursday, October 8th. Wall Street Zen cut shares of Suncor Energy from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 1st. Zacks Research upgraded shares of Suncor Energy from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 5th. Morgan Stanley set a $106.00 price objective on shares of Suncor Energy in a report on Wednesday, August 19th. Finally, Desjardins upgraded shares of Suncor Energy to a "moderate buy" rating in a research report on Thursday, July 16th. Three research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $79.62.

Suncor Energy Stock Up 2.3%

The stock has a market capitalization of $87.93 billion, a PE ratio of 13.13, a P/E/G ratio of 0.48 and a beta of 0.36. The firm has a 50 day moving average of $67.68 and a two-hundred day moving average of $64.55. The company has a current ratio of 1.65, a quick ratio of 1.08 and a debt-to-equity ratio of 0.19.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last posted its earnings results on Tuesday, August 4th. The oil and gas producer reported $2.33 EPS for the quarter, topping analysts' consensus estimates of $2.14 by $0.19. The company had revenue of $13.41 billion for the quarter, compared to the consensus estimate of $11.68 billion. Suncor Energy had a return on equity of 20.05% and a net margin of 15.62%. During the same period in the previous year, the business earned $0.71 earnings per share. Equities research analysts anticipate that Suncor Energy Inc. will post 8.12 earnings per share for the current year.

Suncor Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 4th were paid a dividend of C$0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Friday, September 4th. Suncor Energy's payout ratio is 31.86%.

Institutional Investors Weigh In On Suncor Energy

A number of large investors have recently added to or reduced their stakes in the business. Pacifica Partners Inc. increased its holdings in Suncor Energy by 0.3% during the 3rd quarter. Pacifica Partners Inc. now owns 100,391 shares of the oil and gas producer's stock valued at $6,914,000 after acquiring an additional 315 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Suncor Energy by 4.9% in the third quarter. Farther Finance Advisors LLC now owns 7,356 shares of the oil and gas producer's stock valued at $499,000 after purchasing an additional 346 shares in the last quarter. Valeo Financial Advisors LLC lifted its holdings in shares of Suncor Energy by 1.6% in the third quarter. Valeo Financial Advisors LLC now owns 10,239 shares of the oil and gas producer's stock valued at $695,000 after purchasing an additional 166 shares in the last quarter. Plan A Wealth LLC purchased a new stake in shares of Suncor Energy in the third quarter valued at about $304,000. Finally, Venture Visionary Partners LLC lifted its holdings in shares of Suncor Energy by 50.8% in the third quarter. Venture Visionary Partners LLC now owns 5,661 shares of the oil and gas producer's stock valued at $384,000 after purchasing an additional 1,907 shares in the last quarter. 67.37% of the stock is owned by institutional investors and hedge funds.

Suncor Energy Company Profile

Suncor Energy Inc is an integrated energy company headquartered in Calgary, Alberta. Its operations span the development and production of crude oil from Canada's oil sands, offshore petroleum production, refining, and the marketing and distribution of petroleum products.

The company produces synthetic crude oil, bitumen and conventional crude oil, which are processed through its refining operations into fuels and other refined products. Suncor markets fuel and convenience products through the Petro-Canada retail network and supplies commercial, wholesale and industrial customers.

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