Suncor Energy (TSE:SU) Hits New 52-Week High - Here's What Happened

Key Points

• Suncor Energy shares reached a new 52-week high of C$60.40, marking a significant increase from the previous close of C$59.57.
• Analysts have raised their price targets for Suncor, with a consensus average target price of C$63.67 and a "Moderate Buy" rating.
• The company recently declared a quarterly dividend of $0.57 per share, representing an annualized yield of 3.8%.

Suncor Energy Inc. (TSE:SU - Get Free Report) NYSE: SU shares hit a new 52-week high during trading on Friday . The stock traded as high as C$60.40 and last traded at C$60.40, with a volume of 1077709 shares trading hands. The stock had previously closed at C$59.57.

Analysts Set New Price Targets

SU has been the topic of a number of research analyst reports. TD Securities boosted their target price on Suncor Energy from C$62.00 to C$63.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Jefferies Financial Group upped their price objective on Suncor Energy from C$53.00 to C$57.00 in a research note on Monday, August 18th. Wells Fargo & Company upped their price objective on Suncor Energy from C$59.00 to C$60.00 and gave the company an "overweight" rating in a research note on Thursday, June 26th. ATB Capital upped their price objective on Suncor Energy from C$60.00 to C$62.00 and gave the company a "sector perform" rating in a research note on Thursday, August 7th. Finally, Scotiabank upped their price objective on Suncor Energy from C$60.00 to C$62.00 and gave the company a "sector perform" rating in a research note on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Suncor Energy currently has a consensus rating of "Moderate Buy" and an average target price of C$63.67.

Suncor Energy Stock Up 1.2%

The stock has a market cap of C$73.13 billion, a P/E ratio of 13.28, a PEG ratio of 0.15 and a beta of 0.83. The company has a quick ratio of 0.83, a current ratio of 1.59 and a debt-to-equity ratio of 33.35. The business has a 50-day simple moving average of C$55.58 and a 200-day simple moving average of C$52.59.

Suncor Energy (TSE:SU - Get Free Report) NYSE: SU last issued its earnings results on Tuesday, August 5th. The company reported C$0.71 EPS for the quarter. Suncor Energy had a return on equity of 18.10% and a net margin of 15.15%. Analysts expect that Suncor Energy Inc. will post 4.4208333 EPS for the current year.

Suncor Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Thursday, September 25th were given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Thursday, September 4th. Suncor Energy's dividend payout ratio is 49.67%.

Insider Activity at Suncor Energy

In other Suncor Energy news, insider David Jason Oldreive sold 4,542 shares of the firm's stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of C$57.50, for a total value of C$261,165.00. Also, insider Kristopher Peter Smith sold 100,000 shares of Suncor Energy stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of C$57.57, for a total transaction of C$5,757,000.00. Following the transaction, the insider directly owned 48,482 shares of the company's stock, valued at C$2,791,108.74. This represents a 67.35% decrease in their position. In the last three months, insiders sold 139,542 shares of company stock valued at $8,052,015. 0.01% of the stock is currently owned by company insiders.

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.

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