Suncor Energy (TSE:SU) Reaches New 12-Month High After Analyst Upgrade

Suncor Energy Inc. (TSE:SU) (NYSE:SU) hit a new 52-week high on Friday after Desjardins upgraded the stock from a hold rating to a moderate buy rating. The company 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 research firms also recently weighed in on SU. National Bankshares lifted their price objective on Suncor Energy from C$73.00 to C$76.00 in a report on Thursday. Scotiabank boosted their price target on shares of Suncor Energy from C$59.00 to C$62.00 in a report on Wednesday. Royal Bank of Canada upped their price target on shares of Suncor Energy from C$64.00 to C$66.00 in a research report on Thursday. BMO Capital Markets raised shares of Suncor Energy from a “market perform” rating to an “outperform” rating and set a C$62.00 price objective on the stock in a report on Wednesday, August 7th. Finally, TD Securities upped their target price on Suncor Energy from C$60.00 to C$62.00 in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Suncor Energy currently has an average rating of “Moderate Buy” and a consensus price target of C$61.54.

Insider Activity at Suncor Energy

In other news, Senior Officer Jacqueline Sue Moore sold 37,700 shares of Suncor Energy stock in a transaction 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 currently owned by corporate insiders.

Suncor Energy Trading Up 1.1 %

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 has a market cap of C$72.97 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’s fifty day moving average is C$52.61 and its two-hundred day moving average is C$53.10.

Suncor Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 25th were given a dividend of $0.545 per share. 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 3.79%. Suncor Energy’s dividend payout ratio is presently 37.46%.

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.