Suncor Energy (TSE:SU) Reaches New 12-Month High – Here’s What Happened

Suncor Energy Inc. (TSE:SU) (NYSE:SU) shares hit a new 52-week high during mid-day 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.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on SU shares. Raymond James boosted their target price on Suncor Energy from C$52.00 to C$56.00 in a research report on Thursday, November 14th. Scotiabank upped their price target on shares of Suncor Energy from C$59.00 to C$62.00 in a research report on Wednesday, November 13th. Jefferies Financial Group cut 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 Suncor Energy from a “market perform” rating to an “outperform” rating and set a C$62.00 price objective for the company in a research report on Wednesday, August 7th. Finally, National Bankshares upped their target price on Suncor Energy from C$73.00 to C$76.00 in a report on Thursday, November 14th. Five investment 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$61.81.

Suncor Energy Stock Up 0.8 %

The firm has a 50-day moving average price of C$53.31 and a two-hundred day moving average price of C$53.22. The company has a market capitalization of C$73.62 billion, a P/E ratio of 9.88, a PEG ratio of 0.15 and a beta of 1.47. The company has a quick ratio of 0.83, a current ratio of 1.46 and a debt-to-equity ratio of 34.98.

Suncor Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 25th were issued a $0.545 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $2.18 annualized dividend and a yield of 3.76%. Suncor Energy’s dividend payout ratio (DPR) is 37.46%.

Insider Transactions at Suncor Energy

In other Suncor Energy news, Senior Officer Shelley Powell sold 50,000 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of C$56.87, for a total transaction of C$2,843,700.00. Also, Senior Officer Kristopher Peter Smith sold 105,000 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of C$57.10, for a total value of C$5,995,185.00. 0.01% of the stock is owned by insiders.

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.