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

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on SU shares. Morgan Stanley upped their price objective on Suncor Energy from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. StockNews.com upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $52.00.

Suncor Energy Stock Performance

The company has a quick ratio of 0.88, a current ratio of 1.44 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $50.40 billion, a PE ratio of 8.33, a PEG ratio of 3.44 and a beta of 1.13. The stock’s fifty day simple moving average is $36.03 and its 200-day simple moving average is $33.79.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its earnings results on Wednesday, February 21st. The oil and gas producer reported $0.93 earnings per share (EPS) 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 company had revenue of $10.39 billion during the quarter, compared to analysts’ expectations of $8.46 billion. During the same period last year, the company posted $1.33 earnings per share. On average, research analysts predict that Suncor Energy Inc. will post 3.78 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

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

Institutional Trading of Suncor Energy

Several large investors have recently modified their holdings of the business. Assenagon Asset Management S.A. grew its position in shares of Suncor Energy by 669.2% in the first quarter. Assenagon Asset Management S.A. now owns 4,348,589 shares of the oil and gas producer’s stock valued at $160,507,000 after purchasing an additional 3,783,250 shares during the last quarter. Gradient Investments LLC grew its position in shares of Suncor Energy by 3.5% in the first quarter. Gradient Investments LLC now owns 35,232 shares of the oil and gas producer’s stock valued at $1,300,000 after purchasing an additional 1,198 shares during the last quarter. Stonegate Investment Group LLC acquired a new stake in shares of Suncor Energy in the first quarter valued at approximately $230,000. Ashton Thomas Private Wealth LLC boosted its position in Suncor Energy by 4.7% during the first quarter. Ashton Thomas Private Wealth LLC now owns 48,338 shares of the oil and gas producer’s stock worth $1,784,000 after acquiring an additional 2,158 shares during the last quarter. Finally, Maryland State Retirement & Pension System boosted its position in Suncor Energy by 15.8% during the first quarter. Maryland State Retirement & Pension System now owns 206,762 shares of the oil and gas producer’s stock worth $7,756,000 after acquiring an additional 28,172 shares during the last quarter. 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.