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

Key Points

• Suncor Energy shares reached a new 52-week high of C$108.80 after Royal Bank of Canada raised its price target from C$100 to C$110 and maintained an “outperform” rating.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of C$101.56, although the consensus target is below the stock’s latest price of C$107.93.
• Suncor declared a quarterly dividend of $0.60 per share, equivalent to an annualized $2.40 payout and a 2.2% yield; insiders have sold 79,792 shares worth approximately $7.3 million over the last quarter.

Suncor Energy Inc. (TSE:SU - Get Free Report) NYSE: SU's stock price hit a new 52-week high during trading on Wednesday after Royal Bank Of Canada raised their price target on the stock from C$100.00 to C$110.00. Royal Bank Of Canada currently has an outperform rating on the stock. Suncor Energy traded as high as C$108.80 and last traded at C$107.93, with a volume of 1,067,637 shares. The stock had previously closed at C$106.82.

SU has been the topic of a number of other research reports. TD lifted 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. ATB Cormark Capital Markets increased their target price on shares of Suncor Energy from C$108.00 to C$110.00 and gave the company an "outperform" rating in a research report on Tuesday, October 6th. Raymond James Financial raised their target price on shares of Suncor Energy from C$109.00 to C$118.00 and gave the company an "outperform" rating in a research note on Wednesday, September 16th. Desjardins set a C$107.00 price target on shares of Suncor Energy and gave the stock a "buy" rating in a report on Friday, July 17th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Suncor Energy from C$107.00 to C$114.00 in a report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, Suncor Energy has an average rating of "Moderate Buy" and an average price target of C$101.56.

Insiders Place Their Bets

In other news, insider David Jason Oldreive sold 5,000 shares of the business's stock in a transaction on Monday, September 14th. The shares were sold at an average price of C$98.00, for a total transaction of C$490,000.00. Also, insider Curtis Wade Serra sold 2,400 shares of Suncor Energy stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of C$94.03, for a total value of C$225,672.00. In the last quarter, insiders have sold 79,792 shares of company stock valued at $7,294,928. Corporate insiders own 0.01% of the company's stock.

Suncor Energy Trading Up 0.9%

The company has a debt-to-equity ratio of 30.48, a quick ratio of 0.83 and a current ratio of 1.65. The company has a market cap of C$126.11 billion, a price-to-earnings ratio of 14.40, a P/E/G ratio of 0.15 and a beta of 0.18. The company's fifty day moving average is C$94.66 and its two-hundred day moving average is C$89.98.

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

Suncor Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 25th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Friday, September 4th. Suncor Energy's dividend payout ratio (DPR) is currently 31.64%.

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.

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