Suncor Energy (TSE:SU) Hits New 1-Year High - What's Next?

Key Points

• 52-week high: Suncor shares hit a new 52-week high of C$95.73 (last C$95.51) on Tuesday with ~1.69M shares traded, and multiple analysts have raised targets—TD to C$113 and RBC to C$100—leaving a MarketBeat consensus of "Moderate Buy" (avg. target C$93.06).
• Solid fundamentals: Suncor reported C$1.93 EPS on C$14.48B revenue for the quarter, has a market cap of C$112.8B and a P/E of 19.6, and pays a C$0.60 quarterly dividend (C$2.40 annual, ~2.5% yield) with a ~47.6% payout ratio.

Suncor Energy Inc. (TSE:SU - Get Free Report) NYSE: SU shares reached a new 52-week high during trading on Tuesday . The company traded as high as C$95.73 and last traded at C$95.51, with a volume of 1692289 shares traded. The stock had previously closed at C$93.30.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Royal Bank Of Canada lifted their target price on shares of Suncor Energy from C$89.00 to C$100.00 and gave the stock an "outperform" rating in a report on Wednesday, April 8th. Wells Fargo & Company lifted their target price on shares of Suncor Energy from C$74.00 to C$97.00 in a report on Wednesday, April 1st. Raymond James Financial boosted their price target on shares of Suncor Energy from C$76.00 to C$93.00 in a report on Monday, March 30th. TD Securities boosted their price target on shares of Suncor Energy from C$81.00 to C$91.00 and gave the company a "buy" rating in a report on Wednesday, April 1st. Finally, TD boosted their price target on shares of Suncor Energy from C$91.00 to C$113.00 and gave the company a "buy" rating in a report on Thursday, April 16th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Suncor Energy has an average rating of "Moderate Buy" and a consensus price target of C$93.06.

Suncor Energy Stock Up 1.9%

The firm has a market capitalization of C$112.82 billion, a P/E ratio of 19.60, a PEG ratio of 0.15 and a beta of 0.23. The firm's 50-day moving average is C$85.19 and its 200 day moving average is C$71.17. The company has a debt-to-equity ratio of 40.74, a quick ratio of 0.83 and a current ratio of 1.39.

Suncor Energy (TSE:SU - Get Free Report) NYSE: SU last posted its quarterly earnings data on Tuesday, May 5th. The company reported C$1.93 EPS for the quarter. The business had revenue of C$14.48 billion for the quarter. Suncor Energy had a net margin of 12.10% and a return on equity of 13.17%. As a group, equities research analysts predict that Suncor Energy Inc. will post 4.4208333 EPS for the current fiscal year.

Suncor Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 25th. Investors of record on Wednesday, March 25th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Wednesday, March 4th. Suncor Energy's payout ratio is currently 47.63%.

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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