Suncor Energy Inc. (NYSE:SU) (TSE:SU) – Cormark upped their Q3 2018 earnings per share estimates for shares of Suncor Energy in a report released on Tuesday. Cormark analyst A. Arif now expects that the oil and gas producer will post earnings per share of $0.47 for the quarter, up from their previous estimate of $0.47. Cormark also issued estimates for Suncor Energy’s Q4 2018 earnings at $0.49 EPS.
A number of other analysts have also commented on the stock. Piper Jaffray Companies set a $46.00 price target on shares of Suncor Energy and gave the company a “buy” rating in a research note on Friday, February 9th. TD Securities upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Friday, February 9th. JPMorgan Chase & Co. upgraded shares of Suncor Energy from a “neutral” rating to an “overweight” rating in a research note on Friday, February 9th. Zacks Investment Research upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research note on Saturday, January 20th. Finally, AltaCorp Capital restated a “hold” rating and set a $51.00 price target on shares of Suncor Energy in a research note on Monday, January 15th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Suncor Energy currently has a consensus rating of “Buy” and a consensus target price of $46.67.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. MANA Advisors LLC bought a new stake in shares of Suncor Energy in the 4th quarter worth $962,000. Montgomery Investment Management Inc. grew its stake in shares of Suncor Energy by 4.4% in the 4th quarter. Montgomery Investment Management Inc. now owns 71,000 shares of the oil and gas producer’s stock worth $2,608,000 after acquiring an additional 3,000 shares in the last quarter. TVR Capital Management LP bought a new stake in shares of Suncor Energy in the 4th quarter worth $4,275,000. Centenus Global Management LP bought a new stake in shares of Suncor Energy in the 4th quarter worth $3,617,000. Finally, Scotia Capital Inc. grew its stake in shares of Suncor Energy by 3.1% in the 4th quarter. Scotia Capital Inc. now owns 3,274,694 shares of the oil and gas producer’s stock worth $120,203,000 after acquiring an additional 97,000 shares in the last quarter. Hedge funds and other institutional investors own 65.69% of the company’s stock.
The company also recently announced 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 is a positive change from Suncor Energy’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, March 2nd. This represents a $1.14 annualized dividend and a dividend yield of 3.41%. Suncor Energy’s dividend payout ratio is presently 48.56%.
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About Suncor Energy
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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