Suncor Energy (NYSE:SU) Hits New 1-Year High - Still a Buy?

Key Points

• Suncor Energy Inc. has reached a new 52-week high of $41.91 amid recent trading activity, closing at $41.77.
• The company reported $0.51 earnings per share for the last quarter, beating estimates, with revenues of $8.81 billion.
• Suncor has also increased its quarterly dividend to $0.4135 per share, reflecting a 4.0% yield and a payout ratio of 50.77%.

Suncor Energy Inc. (NYSE:SU - Get Free Report) TSE: SU's share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $41.91 and last traded at $41.77, with a volume of 490885 shares changing hands. The stock had previously closed at $40.96.

Suncor Energy Trading Up 1.2%

The business's fifty day moving average is $39.51 and its 200-day moving average is $37.49. The stock has a market capitalization of $50.30 billion, a PE ratio of 12.75, a P/E/G ratio of 3.47 and a beta of 0.87. The company has a quick ratio of 0.77, a current ratio of 1.26 and a debt-to-equity ratio of 0.19.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last released its earnings results on Tuesday, August 5th. The oil and gas producer reported $0.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.50 by $0.01. Suncor Energy had a net margin of 11.35% and a return on equity of 13.21%. The firm had revenue of $8.81 billion during the quarter, compared to the consensus estimate of $11.56 billion. During the same period in the previous year, the firm earned $1.27 earnings per share. As a group, analysts anticipate that Suncor Energy Inc. will post 3.42 EPS for the current fiscal year.

Suncor Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be issued a $0.4135 dividend. The ex-dividend date is Thursday, September 4th. This is a positive change from Suncor Energy's previous quarterly dividend of $0.41. This represents a $1.65 dividend on an annualized basis and a yield of 4.0%. Suncor Energy's payout ratio is presently 50.77%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Hanson & Doremus Investment Management lifted its position in Suncor Energy by 143.5% during the first quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer's stock valued at $31,000 after buying an additional 465 shares in the last quarter. Headlands Technologies LLC acquired a new position in Suncor Energy during the second quarter valued at approximately $31,000. Salem Investment Counselors Inc. lifted its position in Suncor Energy by 97.6% during the first quarter. Salem Investment Counselors Inc. now owns 820 shares of the oil and gas producer's stock valued at $32,000 after buying an additional 405 shares in the last quarter. Maseco LLP acquired a new position in Suncor Energy during the second quarter valued at approximately $32,000. Finally, N.E.W. Advisory Services LLC acquired a new position in Suncor Energy during the first quarter valued at approximately $36,000. 67.37% of the stock is owned by institutional investors and hedge funds.

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.

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