FY2024 EPS Estimates for Suncor Energy Raised by Analyst

Suncor Energy Inc. (NYSE:SU) (TSE:SU) – Analysts at Raymond James upped their FY2024 earnings estimates for Suncor Energy in a research report issued on Wednesday, November 13th. Raymond James analyst M. Barth now anticipates that the oil and gas producer will post earnings of $3.81 per share for the year, up from their prior estimate of $3.61. The consensus estimate for Suncor Energy’s current full-year earnings is $3.63 per share. Raymond James also issued estimates for Suncor Energy’s FY2025 earnings at $3.50 EPS, FY2026 earnings at $3.12 EPS, FY2027 earnings at $3.25 EPS and FY2028 earnings at $3.25 EPS.

Several other analysts have also recently issued reports on the stock. StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, November 7th. BMO Capital Markets raised shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Wednesday, August 7th. TD Securities raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. Finally, Desjardins upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $56.40.

Suncor Energy Trading Up 0.8 %

NYSE SU opened at $40.81 on Monday. The company’s fifty day simple moving average is $38.47 and its 200-day simple moving average is $38.79. Suncor Energy has a 52 week low of $29.45 and a 52 week high of $41.94. The company has a current ratio of 1.59, a quick ratio of 0.93 and a debt-to-equity ratio of 0.24. The stock has a market cap of $51.49 billion, a P/E ratio of 8.89, a PEG ratio of 2.87 and a beta of 1.12.

Suncor Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 24th. Investors of record on Tuesday, December 3rd will be given a $0.4089 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date is Tuesday, December 3rd. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.40. Suncor Energy’s dividend payout ratio is currently 36.60%.

Hedge Funds Weigh In On Suncor Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Cullen Investment Group LTD. lifted its holdings in Suncor Energy by 0.8% in the 3rd quarter. Cullen Investment Group LTD. now owns 33,106 shares of the oil and gas producer’s stock valued at $1,222,000 after acquiring an additional 262 shares during the last quarter. First Horizon Advisors Inc. lifted its holdings in Suncor Energy by 6.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 4,879 shares of the oil and gas producer’s stock valued at $186,000 after acquiring an additional 281 shares during the last quarter. Blue Trust Inc. lifted its holdings in Suncor Energy by 11.0% in the 2nd quarter. Blue Trust Inc. now owns 3,278 shares of the oil and gas producer’s stock valued at $121,000 after acquiring an additional 325 shares during the last quarter. Richardson Financial Services Inc. lifted its holdings in Suncor Energy by 82.8% in the 2nd quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer’s stock valued at $28,000 after acquiring an additional 328 shares during the last quarter. Finally, Coldstream Capital Management Inc. lifted its holdings in Suncor Energy by 5.0% in the 3rd quarter. Coldstream Capital Management Inc. now owns 7,486 shares of the oil and gas producer’s stock valued at $276,000 after acquiring an additional 354 shares during the last quarter. Institutional investors own 67.37% of the company’s stock.

Suncor Energy Company Profile

Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.