Suncor Energy (TSE:SU) Sets New 52-Week Low - Here's Why

Suncor Energy Inc. (TSE:SU - Get Free Report) NYSE: SU shares hit a new 52-week low during mid-day trading on Monday . The company traded as low as C$0.01 and last traded at C$54.58, with a volume of 9519412 shares traded. The stock had previously closed at C$55.36.

Analyst Upgrades and Downgrades

Several research firms have commented on SU. UBS Group lifted their price objective on shares of Suncor Energy from C$61.00 to C$65.00 in a research note on Monday, November 18th. Desjardins raised shares of Suncor Energy from a "hold" rating to a "moderate buy" rating in a research note on Thursday, November 14th. Royal Bank of Canada cut their price target on shares of Suncor Energy from C$66.00 to C$65.00 in a report on Tuesday, January 14th. JPMorgan Chase & Co. raised their price objective on shares of Suncor Energy from C$59.00 to C$61.00 in a research note on Friday, December 13th. Finally, Jefferies Financial Group upped their target price on Suncor Energy from C$58.00 to C$59.00 in a research note on Monday, February 24th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of C$62.61.

Suncor Energy Trading Down 3.1 %

The company has a current ratio of 1.59, a quick ratio of 0.83 and a debt-to-equity ratio of 33.35. The firm has a market capitalization of C$61.76 billion, a P/E ratio of 7.78, a price-to-earnings-growth ratio of 0.15 and a beta of 1.47. The stock has a 50-day simple moving average of C$54.98 and a two-hundred day simple moving average of C$54.03.

Suncor Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 25th will be issued a dividend of $0.57 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $2.28 dividend on an annualized basis and a yield of 4.63%. Suncor Energy's dividend payout ratio is currently 34.42%.

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.