FY2029 EPS Estimates for Suncor Energy Increased by Analyst

Key Points

• Raymond James Financial raised its FY2029 earnings estimates for Suncor Energy from $3.69 to $3.83 per share, indicating a positive outlook for the oil and gas producer.
• Suncor Energy recently announced a quarterly dividend increase to $0.4135 per share, representing a 4.2% yield and a boost from the previous dividend of $0.41.
• The company has a consensus rating of "Moderate Buy" with an average price target of $66.00, reflecting varying analyst sentiments with some maintaining hold ratings.

Suncor Energy Inc. (NYSE:SU - Free Report) TSE: SU - Equities research analysts at Raymond James Financial raised their FY2029 earnings estimates for shares of Suncor Energy in a report released on Wednesday, August 6th. Raymond James Financial analyst M. Barth now forecasts that the oil and gas producer will post earnings of $3.83 per share for the year, up from their previous forecast of $3.69. The consensus estimate for Suncor Energy's current full-year earnings is $3.42 per share.

Separately, Wall Street Zen lowered shares of Suncor Energy from a "buy" rating to a "hold" rating in a research note on Thursday, April 17th. Four analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Suncor Energy has a consensus rating of "Moderate Buy" and an average price target of $66.00.

Suncor Energy Stock Performance

Shares of SU stock traded up $0.12 on Friday, reaching $39.15. The stock had a trading volume of 1,065,499 shares, compared to its average volume of 4,750,197. The company has a quick ratio of 0.84, a current ratio of 1.26 and a debt-to-equity ratio of 0.19. The firm's 50-day moving average is $38.76 and its two-hundred day moving average is $37.38. The firm has a market capitalization of $47.68 billion, a price-to-earnings ratio of 12.06, a P/E/G ratio of 3.45 and a beta of 0.84. Suncor Energy has a 12 month low of $30.79 and a 12 month high of $41.94.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last issued its earnings results on Tuesday, August 5th. The oil and gas producer reported $0.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.50 by $0.01. The company had revenue of $8.81 billion for the quarter, compared to analysts' expectations of $11.56 billion. Suncor Energy had a net margin of 11.35% and a return on equity of 13.21%. During the same period in the prior year, the firm earned $1.27 EPS.

Institutional Trading of Suncor Energy

Institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC lifted its stake in Suncor Energy by 18.5% in the 2nd quarter. Geode Capital Management LLC now owns 10,147,653 shares of the oil and gas producer's stock valued at $387,538,000 after purchasing an additional 1,586,520 shares during the last quarter. Vise Technologies Inc. acquired a new stake in shares of Suncor Energy during the second quarter worth $4,283,000. Allworth Financial LP increased its position in shares of Suncor Energy by 29.0% during the second quarter. Allworth Financial LP now owns 2,021 shares of the oil and gas producer's stock worth $76,000 after buying an additional 454 shares during the period. Martin Investment Management LLC increased its position in shares of Suncor Energy by 28.1% during the second quarter. Martin Investment Management LLC now owns 6,920 shares of the oil and gas producer's stock worth $259,000 after buying an additional 1,520 shares during the period. Finally, PCJ Investment Counsel Ltd. increased its position in shares of Suncor Energy by 4.3% during the second quarter. PCJ Investment Counsel Ltd. now owns 66,760 shares of the oil and gas producer's stock worth $2,504,000 after buying an additional 2,760 shares during the period. Institutional investors own 67.37% of the company's stock.

Suncor Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be given a dividend of $0.4135 per share. This represents a $1.65 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Thursday, September 4th. This is a boost from Suncor Energy's previous quarterly dividend of $0.41. Suncor Energy's dividend payout ratio (DPR) is currently 51.08%.

About Suncor Energy

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.

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