Suncor Energy (NYSE:SU) Hits New 12-Month High at $41.66

Suncor Energy Inc. (NYSE:SU) (TSE:SU)’s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $41.66 and last traded at $41.60, with a volume of 144957 shares trading hands. The stock had previously closed at $41.14.

Analysts Set New Price Targets

Several brokerages have issued reports on SU. StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. TD Securities upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. Raymond James raised Suncor Energy to a “hold” rating in a research report on Tuesday, May 28th. Wolfe Research assumed coverage on Suncor Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $68.00 price target for the company. Finally, Scotiabank cut their price objective on Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $54.75.

Suncor Energy Stock Performance

The firm has a market cap of $52.99 billion, a PE ratio of 9.16, a PEG ratio of 2.72 and a beta of 1.12. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.93 and a current ratio of 1.46. The firm’s 50 day moving average price is $38.23 and its two-hundred day moving average price is $37.23.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings data on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.51. Suncor Energy had a net margin of 14.40% and a return on equity of 16.22%. The firm had revenue of $12.90 billion for the quarter, compared to analyst estimates of $9.30 billion. During the same period in the previous year, the firm earned $0.71 EPS. Suncor Energy’s revenue was up 10.1% on a year-over-year basis. On average, research analysts forecast that Suncor Energy Inc. will post 3.64 earnings per share for the current year.

Suncor Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th will be issued a dividend of $0.395 per share. This represents a $1.58 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date of this dividend is Wednesday, September 4th. Suncor Energy’s dividend payout ratio (DPR) is 35.63%.

Institutional Investors Weigh In On Suncor Energy

Hedge funds have recently added to or reduced their stakes in the business. Johnson Financial Group Inc. acquired a new stake in Suncor Energy in the 4th quarter valued at about $25,000. Richardson Financial Services Inc. purchased a new stake in shares of Suncor Energy during the fourth quarter worth approximately $25,000. Trust Co. of Vermont acquired a new stake in Suncor Energy in the second quarter valued at approximately $26,000. Summit Securities Group LLC purchased a new position in Suncor Energy in the second quarter worth approximately $27,000. Finally, Ridgewood Investments LLC acquired a new position in Suncor Energy during the 2nd quarter worth approximately $29,000. 67.37% of the stock is currently owned by institutional investors and hedge funds.

About Suncor Energy

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.