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

Key Points

• Suncor shares hit a new 52-week high — the stock traded as high as C$84.90 (last C$84.87) on mid‑day volume of about 1.39 million shares.
• Analysts have been raising targets and the consensus is a "Moderate Buy" — several firms lifted targets (range seen C$71–C$88), with six Buys, four Holds and a MarketBeat consensus target of C$75.86.
• Solid fundamentals and a new dividend — most recent quarter EPS was C$1.10 on C$12.04B revenue, market cap ~C$100.6B and P/E ~17.5; company announced a quarterly dividend of C$0.60 (annualized C$2.40, yield 2.8%, ex‑dividend Mar 4, payable Mar 25).

Suncor Energy Inc. (TSE:SU - Get Free Report) NYSE: SU shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$84.90 and last traded at C$84.87, with a volume of 1392871 shares trading hands. The stock had previously closed at C$84.11.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. ATB Cormark Capital Markets raised their price objective on shares of Suncor Energy from C$68.00 to C$71.00 and gave the stock a "sector perform" rating in a report on Thursday, February 5th. Royal Bank Of Canada upped their target price on shares of Suncor Energy from C$69.00 to C$75.00 and gave the company an "outperform" rating in a report on Thursday, February 5th. Canadian Imperial Bank of Commerce increased their target price on shares of Suncor Energy from C$70.00 to C$88.00 in a research report on Monday, March 2nd. National Bank Financial boosted their price target on shares of Suncor Energy from C$72.00 to C$85.00 and gave the company an "outperform" rating in a research report on Tuesday, February 3rd. Finally, Desjardins upped their price objective on shares of Suncor Energy from C$79.00 to C$85.00 and gave the company a "buy" rating in a research note on Thursday, February 5th. Six investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of C$75.86.

Suncor Energy Price Performance

The company has a quick ratio of 0.83, a current ratio of 1.39 and a debt-to-equity ratio of 40.74. The firm has a market capitalization of C$100.64 billion, a price-to-earnings ratio of 17.48, a P/E/G ratio of 0.15 and a beta of 0.75. The company has a fifty day moving average price of C$73.81 and a two-hundred day moving average price of C$64.10.

Suncor Energy (TSE:SU - Get Free Report) NYSE: SU last announced its earnings results on Tuesday, February 3rd. The company reported C$1.10 EPS for the quarter. Suncor Energy had a net margin of 12.10% and a return on equity of 13.17%. The business had revenue of C$12.04 billion for the quarter. On average, equities research analysts expect that Suncor Energy Inc. will post 4.4208333 EPS for the current fiscal year.

Suncor Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 25th will be paid a $0.60 dividend. The ex-dividend date is Wednesday, March 4th. This represents a $2.40 dividend on an annualized basis and a yield of 2.8%. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.