Suncor Energy Inc. (NYSE:SU) (TSE:SU) – Stock analysts at National Bank Financial boosted their FY2019 earnings per share estimates for shares of Suncor Energy in a research note issued to investors on Monday. National Bank Financial analyst T. Wood now expects that the oil and gas producer will post earnings per share of $2.50 for the year, up from their prior forecast of $2.49.
SU has been the topic of a number of other reports. Piper Jaffray Companies set a $46.00 price target on shares of Suncor Energy and gave the company a “buy” rating in a report on Friday, February 9th. TD Securities cut shares of Suncor Energy from a “buy” rating to a “hold” rating and set a $50.00 price target on the stock. in a report on Thursday, November 16th. Zacks Investment Research cut shares of Suncor Energy from a “buy” rating to a “hold” rating in a report on Monday, November 20th. Edward Jones upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Monday, November 20th. Finally, JPMorgan Chase & Co. upgraded shares of Suncor Energy from a “neutral” rating to an “overweight” rating in a report on Friday, February 9th. One analyst has rated the stock with a sell rating, two have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $46.67.
Hedge funds have recently added to or reduced their stakes in the stock. SeaCrest Wealth Management LLC purchased a new position in Suncor Energy during the 4th quarter worth approximately $100,000. Cerebellum GP LLC purchased a new position in Suncor Energy during the 4th quarter worth approximately $134,000. UBS Asset Management Americas Inc. raised its position in Suncor Energy by 13.7% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 4,658 shares of the oil and gas producer’s stock worth $136,000 after buying an additional 562 shares during the last quarter. Forward Management LLC purchased a new position in Suncor Energy during the 3rd quarter worth approximately $154,000. Finally, Icon Wealth Partners LLC purchased a new position in Suncor Energy during the 4th quarter worth approximately $181,000. Institutional investors own 65.69% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Monday, March 26th. Investors of record on Monday, March 5th will be paid a $0.286 dividend. The ex-dividend date of this dividend is Friday, March 2nd. This is a boost from Suncor Energy’s previous quarterly dividend of $0.25. This represents a $1.14 dividend on an annualized basis and a yield of 3.36%. Suncor Energy’s dividend payout ratio (DPR) is 47.42%.
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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