Suncor Energy Inc. (SU) Forecasted to Post FY2019 Earnings of $2.49 Per Share

Suncor Energy Inc. (NYSE:SU) (TSE:SU) – Investment analysts at National Bank Financial issued their FY2019 earnings per share (EPS) estimates for shares of Suncor Energy in a report released on Thursday. National Bank Financial analyst T. Wood forecasts that the oil and gas producer will earn $2.49 per share for the year.

A number of other equities research analysts have also recently weighed in on SU. JPMorgan Chase & Co. upgraded Suncor Energy from a “neutral” rating to an “overweight” rating in a research note on Friday. TD Securities upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research note on Friday. Piper Jaffray Companies set a $46.00 price objective on Suncor Energy and gave the stock a “buy” rating in a research note on Friday. Canaccord Genuity restated a “buy” rating and set a $51.00 price objective on shares of Suncor Energy in a research note on Monday, October 16th. Finally, Zacks Investment Research cut Suncor Energy from a “buy” rating to a “hold” rating in a research note on Monday, November 20th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $46.67.

Suncor Energy (NYSE:SU) opened at $33.68 on Monday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.64 and a current ratio of 1.00. The stock has a market capitalization of $55,300.00, a price-to-earnings ratio of 15.81, a PEG ratio of 2.47 and a beta of 0.80. Suncor Energy has a 12-month low of $27.96 and a 12-month high of $38.39.

Several large investors have recently made changes to their positions in the company. TD Asset Management Inc. raised its stake in shares of Suncor Energy by 0.7% in the third quarter. TD Asset Management Inc. now owns 42,887,135 shares of the oil and gas producer’s stock worth $1,499,561,000 after purchasing an additional 311,429 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Suncor Energy by 19.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 15,055,215 shares of the oil and gas producer’s stock worth $552,828,000 after purchasing an additional 2,495,585 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in shares of Suncor Energy by 1.2% in the third quarter. Great West Life Assurance Co. Can now owns 12,881,423 shares of the oil and gas producer’s stock worth $450,100,000 after purchasing an additional 157,842 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Suncor Energy by 0.4% in the third quarter. Wells Fargo & Company MN now owns 8,266,409 shares of the oil and gas producer’s stock worth $289,572,000 after purchasing an additional 32,051 shares during the last quarter. Finally, APG Asset Management N.V. raised its stake in shares of Suncor Energy by 53.9% in the fourth quarter. APG Asset Management N.V. now owns 7,248,085 shares of the oil and gas producer’s stock worth $222,332,000 after purchasing an additional 2,537,800 shares during the last quarter. Hedge funds and other institutional investors own 65.69% of the company’s stock.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 26th. Stockholders of record on Monday, March 5th will be paid a $0.286 dividend. This represents a $1.14 annualized dividend and a dividend yield of 3.40%. This is a boost from Suncor Energy’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Friday, March 2nd. Suncor Energy’s dividend payout ratio (DPR) is presently 47.42%.

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Suncor Energy Company Profile

Suncor Energy Inc is a Canada-based 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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