Brokerages predict that Suncor Energy Inc. (NYSE:SU) (TSE:SU) will report sales of $5.67 billion for the current quarter, Zacks reports. Two analysts have made estimates for Suncor Energy’s earnings. The highest sales estimate is $6.05 billion and the lowest is $5.3 billion. Suncor Energy reported sales of $4.55 billion during the same quarter last year, which would suggest a positive year over year growth rate of 24.6%. The company is scheduled to announce its next earnings results on Wednesday, July 26th.

On average, analysts expect that Suncor Energy will report full-year sales of $5.67 billion for the current fiscal year, with estimates ranging from $21.9 billion to $25.81 billion. For the next financial year, analysts forecast that the firm will report sales of $24.87 billion per share, with estimates ranging from $22.73 billion to $27.02 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Suncor Energy.

A number of research firms have recently issued reports on SU. Zacks Investment Research lowered Suncor Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, February 15th. TheStreet upgraded Suncor Energy from a “d+” rating to a “c” rating in a research note on Thursday, February 9th. Macquarie lowered Suncor Energy from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $36.75 to $31.28 in a research note on Tuesday, January 24th. Goldman Sachs Group Inc upgraded Suncor Energy from a “buy” rating to a “conviction-buy” rating and increased their target price for the company from $25.00 to $34.00 in a research note on Wednesday, April 5th. They noted that the move was a valuation call. Finally, Simmons lowered their target price on Suncor Energy from $43.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, April 19th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $42.46.

Hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC increased its position in Suncor Energy by 3.4% in the first quarter. FMR LLC now owns 105,191,127 shares of the oil and gas producer’s stock worth $3,229,653,000 after buying an additional 3,492,013 shares in the last quarter. Capital Research Global Investors increased its position in Suncor Energy by 18.1% in the third quarter. Capital Research Global Investors now owns 83,187,261 shares of the oil and gas producer’s stock worth $2,309,295,000 after buying an additional 12,754,839 shares in the last quarter. Wellington Management Group LLP increased its position in Suncor Energy by 5.2% in the first quarter. Wellington Management Group LLP now owns 62,617,740 shares of the oil and gas producer’s stock worth $1,922,960,000 after buying an additional 3,103,397 shares in the last quarter. Vanguard Group Inc. increased its position in Suncor Energy by 4.2% in the first quarter. Vanguard Group Inc. now owns 38,530,806 shares of the oil and gas producer’s stock worth $1,184,822,000 after buying an additional 1,549,342 shares in the last quarter. Finally, Dodge & Cox purchased a new position in Suncor Energy during the fourth quarter worth approximately $681,400,000. 64.84% of the stock is owned by hedge funds and other institutional investors.

Shares of Suncor Energy (NYSE:SU) traded up 0.35% during trading on Friday, reaching $31.68. The company had a trading volume of 2,181,139 shares. The firm has a market capitalization of $52.88 billion, a price-to-earnings ratio of 46.32 and a beta of 0.96. The firm has a 50-day moving average of $30.89 and a 200 day moving average of $31.33. Suncor Energy has a 52 week low of $25.60 and a 52 week high of $33.79.

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 26th. Investors of record on Monday, June 5th will be issued a $0.2371 dividend. This represents a $0.95 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date is Thursday, June 1st. Suncor Energy’s dividend payout ratio is currently 477.78%.

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About Suncor Energy

Suncor Energy Inc (Suncor) is an integrated energy company. The Company is focused on developing Canada’s petroleum resource basin, Athabasca oil sands. The Company operates in three business segments: Oil Sands, Exploration and Production (E&P), and Refining and Marketing. The Company’s Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations.

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