Suncor Energy (NYSE:SU) Reaches New 12-Month High - Time to Buy?

Key Points

• Suncor Energy's shares reached a new 52-week high of $42.89, with a market capitalization of $52.14 billion and a price-to-earnings ratio of 13.22.
• The company reported quarterly earnings of $0.51 per share, slightly above analysts' expectations, while revenue was lower than projected at $8.81 billion.
• Suncor Energy has announced a dividend increase to $0.4135 per share, representing an annualized dividend yield of 3.8% and a payout ratio of 50.77%.

Shares of Suncor Energy Inc. (NYSE:SU - Get Free Report) TSE: SU hit a new 52-week high on Tuesday . The company traded as high as $42.84 and last traded at $42.89, with a volume of 190254 shares changing hands. The stock had previously closed at $42.21.

Suncor Energy Trading Up 1.8%

The stock has a market capitalization of $52.14 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 3.59 and a beta of 0.87. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.26 and a quick ratio of 0.77. The business's 50-day simple moving average is $39.81 and its two-hundred day simple moving average is $37.58.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last announced its quarterly earnings results on Tuesday, August 5th. The oil and gas producer reported $0.51 earnings per share 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 for the quarter, compared to analysts' expectations of $11.56 billion. During the same period in the previous year, the company posted $1.27 earnings per share. On average, research analysts anticipate that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th will be given a dividend of $0.4135 per share. The ex-dividend date of this dividend is Thursday, September 4th. This is an increase from Suncor Energy's previous quarterly dividend of $0.41. This represents a $1.65 dividend on an annualized basis and a dividend yield of 3.8%. Suncor Energy's dividend payout ratio is presently 50.77%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Osaic Holdings Inc. lifted its position in shares of Suncor Energy by 155.2% during the second quarter. Osaic Holdings Inc. now owns 95,051 shares of the oil and gas producer's stock worth $3,631,000 after purchasing an additional 57,810 shares in the last quarter. Squarepoint Ops LLC lifted its position in shares of Suncor Energy by 452.2% during the second quarter. Squarepoint Ops LLC now owns 124,216 shares of the oil and gas producer's stock worth $4,652,000 after purchasing an additional 101,721 shares in the last quarter. FORA Capital LLC acquired a new position in shares of Suncor Energy during the second quarter worth $950,000. Headlands Technologies LLC acquired a new position in shares of Suncor Energy during the second quarter worth $31,000. Finally, Corient Private Wealth LLC lifted its position in shares of Suncor Energy by 82.5% during the second quarter. Corient Private Wealth LLC now owns 1,461,949 shares of the oil and gas producer's stock worth $54,750,000 after purchasing an additional 660,914 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 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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