Suncor Energy (NYSE:SU) Hits New 52-Week High – Should You Buy?

Suncor Energy Inc. (NYSE:SU) (TSE:SU) shares reached a new 52-week high on Tuesday . The company traded as high as $43.72 and last traded at $43.6850, with a volume of 577622 shares changing hands. The stock had previously closed at $43.12.

Wall Street Analysts Forecast Growth

SU has been the topic of several research reports. Wells Fargo & Company initiated coverage on shares of Suncor Energy in a report on Friday, October 17th. They issued an “equal weight” rating on the stock. Raymond James Financial raised shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Thursday, November 6th. Zacks Research cut shares of Suncor Energy from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 15th. Weiss Ratings upgraded Suncor Energy from a “hold (c+)” rating to a “buy (b)” rating in a report on Friday, November 7th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $65.00 target price on shares of Suncor Energy in a research report on Friday, October 3rd. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Suncor Energy has an average rating of “Moderate Buy” and a consensus target price of $65.00.

Suncor Energy Trading Down 0.5%

The firm has a market capitalization of $53.11 billion, a P/E ratio of 13.55, a PEG ratio of 3.52 and a beta of 0.75. The company has a quick ratio of 0.77, a current ratio of 1.26 and a debt-to-equity ratio of 0.19. The firm has a 50 day moving average of $40.98 and a 200-day moving average of $39.12.

Suncor Energy (NYSE:SU) (TSE:SU) last released its earnings results on Tuesday, November 4th. The oil and gas producer reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.22. The firm had revenue of $9.04 billion during the quarter, compared to the consensus estimate of $8.82 billion. Suncor Energy had a return on equity of 13.21% and a net margin of 11.35%.During the same period in the prior year, the company posted $1.48 EPS. On average, equities research analysts predict that Suncor Energy Inc. will post 3.42 earnings per share for the current fiscal year.

Suncor Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 24th. Shareholders of record on Wednesday, December 3rd will be issued a $0.60 dividend. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $2.40 annualized dividend and a yield of 5.5%. This is an increase from Suncor Energy’s previous quarterly dividend of $0.41. Suncor Energy’s payout ratio is 55.74%.

Hedge Funds Weigh In On Suncor Energy

Several hedge funds and other institutional investors have recently modified their holdings of SU. Richardson Financial Services Inc. lifted its position in shares of Suncor Energy by 64.1% during the 3rd quarter. Richardson Financial Services Inc. now owns 704 shares of the oil and gas producer’s stock worth $29,000 after buying an additional 275 shares during the last quarter. Hanson & Doremus Investment Management raised its stake in Suncor Energy by 143.5% during the third quarter. Hanson & Doremus Investment Management now owns 789 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 465 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Suncor Energy by 95.8% in the third quarter. Smartleaf Asset Management LLC now owns 793 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 388 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Suncor Energy in the 2nd quarter valued at approximately $31,000. Finally, Maseco LLP bought a new stake in shares of Suncor Energy during the 2nd quarter valued at approximately $32,000. Institutional investors own 67.37% of the company’s stock.

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.