Suncor Energy (NYSE:SU) Hits New 12-Month High at $39.34

Suncor Energy Inc. (NYSE:SU) (TSE:SU)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $39.34 and last traded at $39.28, with a volume of 1575546 shares. The stock had previously closed at $38.54.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. Morgan Stanley lifted their price objective on shares of Suncor Energy from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Suncor Energy has a consensus rating of “Moderate Buy” and an average price target of $52.00.

Suncor Energy Stock Performance

The company has a debt-to-equity ratio of 0.26, a current ratio of 1.44 and a quick ratio of 0.88. The stock’s 50 day simple moving average is $36.03 and its two-hundred day simple moving average is $33.79. The stock has a market cap of $50.40 billion, a P/E ratio of 8.33, a price-to-earnings-growth ratio of 3.44 and a beta of 1.13.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings results on Wednesday, February 21st. The oil and gas producer reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.13. Suncor Energy had a net margin of 16.33% and a return on equity of 16.08%. The firm had revenue of $10.39 billion for the quarter, compared to analyst estimates of $8.46 billion. During the same quarter in the previous year, the firm posted $1.33 earnings per share. As a group, research analysts forecast that Suncor Energy Inc. will post 3.78 EPS for the current year.

Suncor Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 4th were paid a $0.406 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.62 dividend on an annualized basis and a yield of 4.15%. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.39. Suncor Energy’s payout ratio is presently 34.26%.

Institutional Trading of Suncor Energy

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Suncor Energy by 1.5% in the third quarter. Vanguard Group Inc. now owns 50,379,614 shares of the oil and gas producer’s stock worth $1,732,051,000 after purchasing an additional 731,163 shares in the last quarter. Ninepoint Partners LP bought a new stake in shares of Suncor Energy in the third quarter worth $77,355,000. JPMorgan Chase & Co. lifted its position in shares of Suncor Energy by 13.3% in the third quarter. JPMorgan Chase & Co. now owns 5,348,348 shares of the oil and gas producer’s stock worth $183,876,000 after purchasing an additional 628,262 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Suncor Energy by 1,689.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 565,339 shares of the oil and gas producer’s stock worth $18,118,000 after purchasing an additional 533,754 shares in the last quarter. Finally, FMR LLC lifted its position in shares of Suncor Energy by 0.3% in the third quarter. FMR LLC now owns 17,248,932 shares of the oil and gas producer’s stock worth $593,188,000 after purchasing an additional 49,765 shares in the last quarter. Institutional investors own 67.37% 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.