Suncor Energy (TSE:SU) Hits New 12-Month High - Should You Buy?

Key Points

• Suncor Energy reached a new 52-week high of C$110.98, with shares last trading at C$110.63 and the company valued at approximately C$129.4 billion.
• Analyst sentiment is positive, with a consensus rating of “Moderate Buy” from 12 analysts, although the average price target of C$101.56 is below the current share price.
• Suncor reported C$3.23 in quarterly EPS on C$17.50 billion in revenue and pays a quarterly dividend of $0.60, equivalent to a 2.2% annual yield and a 31.64% payout ratio.

Shares of Suncor Energy Inc. (TSE:SU - Get Free Report) NYSE: SU hit a new 52-week high during mid-day trading on Tuesday. The company traded as high as C$110.98 and last traded at C$110.63, with a volume of 2,968,660 shares. The stock had previously closed at C$110.25.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Royal Bank Of Canada increased their price target on shares of Suncor Energy from C$100.00 to C$110.00 and gave the company an "outperform" rating in a research note on Tuesday, October 13th. BMO Capital Markets boosted their price objective on shares of Suncor Energy from C$100.00 to C$105.00 in a research report on Wednesday, August 5th. TD boosted their price objective on shares of Suncor Energy from C$113.00 to C$116.00 and gave the stock a "buy" rating in a research report on Wednesday, July 22nd. Raymond James Financial upped their price objective on Suncor Energy from C$109.00 to C$118.00 and gave the stock an "outperform" rating in a report on Wednesday, September 16th. Finally, Scotiabank raised Suncor Energy to a "strong-buy" rating in a report on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of C$101.56.

Suncor Energy Stock Up 0.3%

The firm's 50-day simple moving average is C$96.47 and its 200 day simple moving average is C$90.47. The company has a market cap of C$129.40 billion, a P/E ratio of 14.77, a PEG ratio of 0.15 and a beta of 0.18. The company has a debt-to-equity ratio of 30.48, a quick ratio of 0.83 and a current ratio of 1.65.

Suncor Energy (TSE:SU - Get Free Report) NYSE: SU last posted its quarterly earnings results on Tuesday, August 4th. The company reported C$3.23 earnings per share for the quarter. Suncor Energy had a return on equity of 19.38% and a net margin of 15.32%. The company had revenue of C$17.50 billion for the quarter. On average, research analysts forecast that Suncor Energy Inc. will post 4.42 earnings per share for the current fiscal year.

Suncor Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 25th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Friday, September 4th. Suncor Energy's dividend payout ratio is currently 31.64%.

Insiders Place Their Bets

In other Suncor Energy news, insider Adam Husain Albeldawi sold 1,173 shares of the stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of C$95.01, for a total value of C$111,446.73. Also, insider Curtis Wade Serra sold 2,400 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of C$94.03, for a total value of C$225,672.00. Insiders have sold a total of 79,792 shares of company stock valued at $7,294,928 in the last ninety days. 0.01% of the stock is currently owned by insiders.

About Suncor Energy

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.

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