Suncor Energy (TSE:SU) Sets New 1-Year High on Analyst Upgrade

Key Points

• Suncor hit a new 52-week high after ATB Cormark raised its price target from C$71 to C$95, with shares trading around C$93.27 on the report.
• Several other firms also lifted targets (CIBC C$88, RBC C$75 with an "outperform", TD C$81, National Bank C$85, Jefferies C$82), leaving a MarketBeat consensus of "Moderate Buy" and an average target of C$77.57.
• Suncor recently paid a quarterly dividend of $0.60 (C$2.40 annualized, ~2.6% yield) and reported C$1.10 EPS for the quarter; the company has a market cap of C$110.66B and a P/E of 19.22.

Suncor Energy Inc. (TSE:SU - Get Free Report) NYSE: SU's stock price reached a new 52-week high during mid-day trading on Monday after ATB Cormark Capital Markets raised their price target on the stock from C$71.00 to C$95.00. ATB Cormark Capital Markets currently has a sector perform rating on the stock. Suncor Energy traded as high as C$94.32 and last traded at C$93.27, with a volume of 1711552 shares changing hands. The stock had previously closed at C$92.50.

Several other research firms have also weighed in on SU. Canadian Imperial Bank of Commerce increased their target price on Suncor Energy from C$70.00 to C$88.00 in a research note on Monday, March 2nd. Royal Bank Of Canada upped their price target on Suncor Energy from C$69.00 to C$75.00 and gave the company an "outperform" rating in a research note on Thursday, February 5th. TD Securities lifted their price objective on shares of Suncor Energy from C$74.00 to C$81.00 in a research note on Wednesday, February 4th. National Bank Financial boosted their price objective on shares of Suncor Energy from C$72.00 to C$85.00 and gave the company an "outperform" rating in a report on Tuesday, February 3rd. Finally, Jefferies Financial Group upped their target price on shares of Suncor Energy from C$66.00 to C$82.00 in a research note on Monday, March 16th. Six investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of C$77.57.

Suncor Energy Stock Up 0.8%

The stock's fifty day moving average price is C$77.38 and its 200-day moving average price is C$65.89. 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 company has a market capitalization of C$110.66 billion, a price-to-earnings ratio of 19.22, a P/E/G ratio of 0.15 and a beta of 0.75.

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 during the quarter. On average, sell-side analysts predict that Suncor Energy Inc. will post 4.4208333 earnings per share for the current fiscal year.

Suncor Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 25th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Wednesday, March 4th. Suncor Energy's dividend payout ratio (DPR) is currently 47.63%.

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. 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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