Suncor Energy (TSE:SU) Hits New 52-Week High on Analyst Upgrade

Suncor Energy Inc. (TSE:SU) (NYSE:SU) reached a new 52-week high on Friday after Desjardins upgraded the stock from a hold rating to a moderate buy rating. The stock traded as high as C$57.50 and last traded at C$57.46, with a volume of 580157 shares. The stock had previously closed at C$56.84.

A number of other equities analysts have also recently issued reports on SU. 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 research report on Wednesday, August 7th. Wolfe Research upgraded shares of Suncor Energy to a “strong-buy” rating in a research note on Thursday, July 18th. Raymond James raised their price target on shares of Suncor Energy from C$52.00 to C$56.00 in a research note on Thursday. Royal Bank of Canada lifted their price objective on shares of Suncor Energy from C$64.00 to C$66.00 in a research note on Thursday. Finally, Jefferies Financial Group cut their price target on shares of Suncor Energy from C$62.00 to C$55.00 and set a “hold” rating for the company in a report on Monday, September 16th. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$61.54.

Insider Transactions at Suncor Energy

In other Suncor Energy news, Senior Officer Jacqueline Sue Moore sold 37,700 shares of the company’s stock in a transaction that occurred 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. Insiders own 0.01% of the company’s stock.

Suncor Energy Stock Up 0.3 %

The company’s 50-day simple moving average is C$52.72 and its 200 day simple moving average is C$53.12. The firm has a market cap of C$72.39 billion, a P/E ratio of 9.79, a price-to-earnings-growth ratio of 0.15 and a beta of 1.47. The company has a debt-to-equity ratio of 34.98, a current ratio of 1.46 and a quick ratio of 0.83.

Suncor Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 25th were paid a $0.545 dividend. This represents a $2.18 annualized dividend and a yield of 3.82%. The ex-dividend date was Wednesday, September 4th. 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.