FY2024 EPS Estimates for Suncor Energy Increased by Analyst

Suncor Energy Inc. (NYSE:SU) (TSE:SU) – Stock analysts at Raymond James increased their FY2024 earnings estimates for Suncor Energy in a research note issued on Wednesday, November 13th. Raymond James analyst M. Barth now forecasts that the oil and gas producer will earn $3.81 per share for the year, up from their previous 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.

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

Suncor Energy Stock Up 0.1 %

Shares of SU opened at $40.48 on Monday. The stock has a market capitalization of $51.08 billion, a PE ratio of 8.82, a P/E/G ratio of 2.87 and a beta of 1.12. Suncor Energy has a 12 month low of $29.45 and a 12 month 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 firm’s 50 day moving average is $38.40 and its 200-day moving average is $38.77.

Institutional Trading of Suncor Energy

Several institutional investors have recently added to or reduced their stakes in SU. Cullen Investment Group LTD. raised its stake in Suncor Energy by 0.8% in the third quarter. Cullen Investment Group LTD. now owns 33,106 shares of the oil and gas producer’s stock worth $1,222,000 after buying an additional 262 shares in the last quarter. First Horizon Advisors Inc. boosted its stake 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 worth $186,000 after purchasing an additional 281 shares in the last quarter. Blue Trust Inc. increased its stake in Suncor Energy by 11.0% during the 2nd quarter. Blue Trust Inc. now owns 3,278 shares of the oil and gas producer’s stock valued at $121,000 after purchasing an additional 325 shares in the last quarter. Richardson Financial Services Inc. lifted its stake in shares of Suncor Energy by 82.8% in the second quarter. Richardson Financial Services Inc. now owns 724 shares of the oil and gas producer’s stock worth $28,000 after buying an additional 328 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Suncor Energy by 16.0% during the first quarter. EverSource Wealth Advisors LLC now owns 2,730 shares of the oil and gas producer’s stock valued at $104,000 after buying an additional 377 shares during the last quarter. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

Suncor Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 3rd will be issued a $0.4089 dividend. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.40. The ex-dividend date is Tuesday, December 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.04%. Suncor Energy’s dividend payout ratio is presently 36.60%.

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.