Suncor Energy (NYSE:SU) Sets New 1-Year High - Should You Buy?

Key Points

• Suncor hit a new 52‑week high — shares reached $67.45 mid‑day and were last at $67.2640, trading up roughly 1.5% on the session.
• Analyst sentiment is broadly positive with an average rating of “Moderate Buy” and an average price target of $63.67, while several firms have raised targets (RBC to $75, Goldman to $62) and five analysts rate it Buy versus two Hold.
• Suncor pays a quarterly dividend of $0.60 (annualized $2.40) for a 3.5% yield

Suncor Energy Inc. (NYSE:SU - Get Free Report) TSE: SU shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $67.45 and last traded at $67.2640, with a volume of 16746 shares. The stock had previously closed at $66.66.

Analyst Ratings Changes

Several brokerages recently weighed in on SU. Royal Bank Of Canada increased their target price on Suncor Energy from $69.00 to $75.00 and gave the stock an "outperform" rating in a research report on Thursday, February 5th. Weiss Ratings reiterated a "buy (b)" rating on shares of Suncor Energy in a research note on Monday, December 29th. Wall Street Zen downgraded shares of Suncor Energy from a "buy" rating to a "hold" rating in a research report on Sunday, December 28th. The Goldman Sachs Group increased their price target on shares of Suncor Energy from $55.00 to $62.00 and gave the stock a "buy" rating in a research report on Thursday, March 12th. Finally, JPMorgan Chase & Co. raised Suncor Energy from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $46.15 to $54.00 in a report on Tuesday, January 20th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, Suncor Energy presently has an average rating of "Moderate Buy" and an average price target of $63.67.

Suncor Energy Trading Up 1.5%

The stock has a market cap of $80.55 billion, a P/E ratio of 19.47 and a beta of 0.42. The firm's 50 day simple moving average is $56.56 and its two-hundred day simple moving average is $47.70. The company has a quick ratio of 0.89, a current ratio of 1.39 and a debt-to-equity ratio of 0.20.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last posted its quarterly earnings results on Tuesday, February 3rd. The oil and gas producer reported $0.79 EPS for the quarter, beating the consensus estimate of $0.77 by $0.02. The business had revenue of $8.77 billion during the quarter, compared to analyst estimates of $8.79 billion. Suncor Energy had a net margin of 11.99% and a return on equity of 12.51%. During the same period in the previous year, the business posted $1.25 EPS. As a group, equities research analysts predict that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 25th. Investors of record on Wednesday, March 4th were issued a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, March 4th. This represents a $2.40 annualized dividend and a dividend yield of 3.5%. Suncor Energy's dividend payout ratio (DPR) is 50.72%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Fisher Asset Management LLC increased its stake in shares of Suncor Energy by 85.5% in the third quarter. Fisher Asset Management LLC now owns 15,530,965 shares of the oil and gas producer's stock valued at $649,350,000 after purchasing an additional 7,158,953 shares during the period. AQR Capital Management LLC lifted its holdings in Suncor Energy by 7,636.8% in the fourth quarter. AQR Capital Management LLC now owns 6,016,483 shares of the oil and gas producer's stock worth $267,042,000 after purchasing an additional 5,938,719 shares during the period. Arrowstreet Capital Limited Partnership grew its position in Suncor Energy by 62.2% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 13,335,239 shares of the oil and gas producer's stock valued at $557,682,000 after buying an additional 5,113,280 shares in the last quarter. FIL Ltd increased its stake in Suncor Energy by 14.0% during the 4th quarter. FIL Ltd now owns 21,050,387 shares of the oil and gas producer's stock valued at $934,312,000 after buying an additional 2,592,516 shares during the period. Finally, Canada Pension Plan Investment Board raised its position in shares of Suncor Energy by 29.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 10,555,381 shares of the oil and gas producer's stock worth $395,649,000 after buying an additional 2,406,000 shares in the last quarter. 67.37% of the stock is currently owned by institutional investors.

About Suncor Energy

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company's operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.

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