Suncor Energy (TSE:SU) Hits New 1-Year High Following Analyst Upgrade

Suncor Energy Inc. (TSE:SU) (NYSE:SU)’s share price reached a new 52-week high on Friday after Desjardins upgraded the stock from a hold rating to a moderate buy rating. The stock traded as high as C$57.50 and last traded at C$57.46, with a volume of 580157 shares changing hands. The stock had previously closed at C$56.84.

Several other brokerages have also recently commented on SU. Jefferies Financial Group reduced their target price on shares of Suncor Energy from C$62.00 to C$55.00 and set a “hold” rating for the company in a report on Monday, September 16th. Royal Bank of Canada increased their price objective on shares of Suncor Energy from C$64.00 to C$66.00 in a research note on Thursday. TD Securities lifted their target price on Suncor Energy from C$60.00 to C$62.00 in a research report on Wednesday. Raymond James increased their price target on Suncor Energy from C$52.00 to C$56.00 in a research report on Thursday. Finally, National Bankshares boosted their price target on Suncor Energy from C$73.00 to C$76.00 in a research report on Thursday. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Suncor Energy has a consensus rating of “Moderate Buy” and a consensus target price of C$61.54.

Insider Activity

In other Suncor Energy news, Senior Officer Jacqueline Sue Moore sold 37,700 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of C$56.54, for a total transaction of C$2,131,558.00. 0.01% of the stock is owned by company insiders.

Suncor Energy Stock Performance

The company has a fifty day moving average of C$52.61 and a two-hundred day moving average of C$53.10. The company has a market cap of C$72.39 billion, a price-to-earnings ratio of 9.82, a P/E/G ratio of 0.15 and a beta of 1.47. The company has a debt-to-equity ratio of 34.98, a quick ratio of 0.83 and a current ratio of 1.46.

Suncor Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 25th were issued a $0.545 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $2.18 dividend on an annualized basis and a yield of 3.82%. Suncor Energy’s payout ratio is 37.46%.

Suncor Energy Company Profile

Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.