Suncor Energy (TSE:SU) Reaches New 12-Month High After Dividend Announcement

Suncor Energy Inc. (TSE:SU) (NYSE:SU)’s stock price reached a new 52-week high during trading on Wednesday following a dividend announcement from the company. The company traded as high as C$54.32 and last traded at C$54.15, with a volume of 889232 shares. The stock had previously closed at C$53.44.

The newly announced dividend which will be paid on Tuesday, June 25th. Stockholders of record on Tuesday, June 4th will be paid a dividend of $0.545 per share. The ex-dividend date is Tuesday, June 4th. This represents a $2.18 dividend on an annualized basis and a dividend yield of 3.97%. Suncor Energy’s dividend payout ratio is 34.44%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on SU shares. BMO Capital Markets upped their target price on Suncor Energy from C$52.00 to C$55.00 in a research note on Thursday, March 28th. Desjardins upped their target price on Suncor Energy from C$48.50 to C$54.00 and gave the company a “hold” rating in a research note on Tuesday, April 23rd. Royal Bank of Canada upped their target price on Suncor Energy from C$58.00 to C$60.00 in a research note on Thursday. National Bankshares upped their target price on Suncor Energy from C$57.00 to C$75.00 and gave the company an “outperform” rating in a research note on Friday, April 19th. Finally, CIBC upped their target price on Suncor Energy from C$60.00 to C$65.00 and gave the company an “outperform” rating in a research note on Monday, April 22nd. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of C$58.08.

Suncor Energy Stock Performance

The business has a fifty day simple moving average of C$50.74 and a two-hundred day simple moving average of C$46.31. The company has a debt-to-equity ratio of 36.52, a current ratio of 1.44 and a quick ratio of 0.83. The company has a market cap of C$70.86 billion, a PE ratio of 8.68, a price-to-earnings-growth ratio of 0.15 and a beta of 1.52.

Suncor Energy (TSE:SU) (NYSE:SU) last posted its earnings results on Wednesday, February 21st. The company reported C$1.26 earnings per share for the quarter, topping analysts’ consensus estimates of C$1.05 by C$0.21. The company had revenue of C$14.14 billion during the quarter, compared to analyst estimates of C$11.33 billion. Suncor Energy had a return on equity of 20.07% and a net margin of 16.90%. Research analysts anticipate that Suncor Energy Inc. will post 4.7379873 earnings per share for the current year.

Insiders Place Their Bets

In other Suncor Energy news, Senior Officer Shelley Powell sold 16,400 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of C$45.84, for a total transaction of C$751,776.00. In other news, Senior Officer Shelley Powell sold 16,400 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of C$45.84, for a total transaction of C$751,776.00. Also, Senior Officer Jacqueline Sue Moore sold 12,000 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of C$45.83, for a total value of C$549,960.00. 0.01% of the stock is owned by company insiders.

Suncor Energy Company Profile

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.