Suncor Energy (TSE:SU) Reaches New 52-Week High – Time to Buy?

Suncor Energy Inc. (TSE:SU) (NYSE:SU)’s stock price reached a new 52-week high during trading on Friday . The stock traded as high as C$58.01 and last traded at C$57.81, with a volume of 2502431 shares traded. The stock had previously closed at C$57.50.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SU shares. Jefferies Financial Group dropped their target price on shares of Suncor Energy from C$62.00 to C$55.00 and set a “hold” rating on the stock in a research note on Monday, September 16th. BMO Capital Markets upgraded shares of Suncor Energy from a “market perform” rating to an “outperform” rating and set a C$62.00 price target on the stock in a research note on Wednesday, August 7th. Scotiabank upped their price target on shares of Suncor Energy from C$59.00 to C$62.00 in a research note on Wednesday, November 13th. UBS Group upped their price target on shares of Suncor Energy from C$61.00 to C$65.00 in a research note on Monday, November 18th. Finally, Raymond James upped their target price on shares of Suncor Energy from C$52.00 to C$56.00 in a report on Thursday, November 14th. Five research 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 company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$61.81.

Suncor Energy Stock Up 1.0 %

The firm has a market cap of C$73.75 billion, a PE ratio of 9.98, a PEG 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. The company’s 50-day simple moving average is C$53.49 and its two-hundred day simple moving average is C$53.25.

Suncor Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 25th were given a $0.545 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $2.18 annualized dividend and a dividend yield of 3.75%. Suncor Energy’s dividend payout ratio is 37.46%.

Insider Transactions at Suncor Energy

In related news, Senior Officer Kristopher Peter Smith sold 105,000 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of C$57.10, for a total value of C$5,995,185.00. Also, Senior Officer Shelley Powell sold 50,000 shares of the stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of C$56.87, for a total transaction of C$2,843,700.00. Corporate insiders own 0.01% of the company’s stock.

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.