Suncor Energy (TSE:SU) Hits New 12-Month High – Should You Buy?

Suncor Energy Inc. (TSE:SU) (NYSE:SU)’s share price reached a new 52-week high on Thursday . The company traded as high as C$74.03 and last traded at C$72.94, with a volume of 2702437 shares traded. The stock had previously closed at C$71.80.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on SU shares. CIBC boosted their target price on Suncor Energy from C$65.00 to C$70.00 in a research note on Thursday, November 27th. Gerdes Energy Research boosted their price objective on Suncor Energy from C$75.00 to C$78.00 in a research report on Monday, November 10th. National Bankshares cut their target price on shares of Suncor Energy from C$73.00 to C$72.00 and set an “outperform” rating on the stock in a research note on Friday, January 9th. Raymond James Financial boosted their price target on shares of Suncor Energy from C$70.00 to C$75.00 and gave the stock an “outperform” rating in a report on Wednesday, January 7th. Finally, UBS Group increased their price objective on shares of Suncor Energy from C$61.00 to C$65.00 in a research report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Suncor Energy has a consensus rating of “Moderate Buy” and a consensus price target of C$68.62.

Suncor Energy Stock Up 0.7%

The firm’s 50 day simple moving average is C$63.18 and its 200-day simple moving average is C$58.73. The company has a debt-to-equity ratio of 33.35, a current ratio of 1.59 and a quick ratio of 0.83. The company has a market cap of C$86.84 billion, a price-to-earnings ratio of 16.85, a P/E/G ratio of 0.15 and a beta of 0.79.

Suncor Energy (TSE:SU) (NYSE:SU) last released its quarterly earnings results on Tuesday, November 4th. The company reported C$1.48 EPS for the quarter. Suncor Energy had a return on equity of 18.10% and a net margin of 15.15%.The company had revenue of C$12.55 billion for the quarter. As a group, sell-side analysts anticipate that Suncor Energy Inc. will post 4.4208333 earnings per share for the current year.

Suncor Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 24th. Investors of record on Wednesday, December 24th were paid a dividend of $0.60 per share. The ex-dividend date was Wednesday, December 3rd. This represents a $2.40 dividend on an annualized basis and a yield of 3.3%. This is an increase from Suncor Energy’s previous quarterly dividend of $0.57. Suncor Energy’s dividend payout ratio (DPR) is currently 53.15%.

Insiders Place Their Bets

In other Suncor Energy news, insider Kristopher Peter Smith sold 112,600 shares of Suncor Energy stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of C$61.74, for a total value of C$6,951,924.00. Following the transaction, the insider directly owned 48,482 shares in the company, valued at approximately C$2,993,278.68. The trade was a 69.90% decrease in their ownership of the stock. Also, insider Peter Douglas Zebedee sold 43,364 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of C$62.53, for a total transaction of C$2,711,550.92. In the last three months, insiders have sold 164,675 shares of company stock valued at $10,208,871. Insiders own 0.01% of the company’s stock.

About Suncor Energy

Suncor Energy Inc is an integrated energy company. The company’s operations include oil sands development, production and upgrading, offshore oil and gas, petroleum refining in Canada and the U.S. and the company’s PetroCanada retail and wholesale distribution networks. The company is developing petroleum resources while advancing the transition to a low-emissions future through investment in power, renewable fuels and hydrogen. It also conducts energy trading activities focused principally on the marketing and trading of crude oil, natural gas, byproducts, refined products and power.