FY2029 EPS Estimate for Suncor Energy Raised 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 - Investment analysts at Raymond James Financial raised their FY2029 earnings per share estimates for shares of Suncor Energy in a research note issued to investors 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 Suncor Energy from a "buy" rating to a "hold" rating in a research note on Thursday, April 17th. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $66.00.

Suncor Energy Stock Performance

Shares of SU stock traded up $0.05 on Friday, hitting $38.84. 2,785,797 shares of the stock traded hands, compared to its average volume of 4,743,002. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.26 and a quick ratio of 0.77. The company has a market capitalization of $47.30 billion, a PE ratio of 11.95, a PEG ratio of 3.38 and a beta of 0.84. Suncor Energy has a 1-year low of $30.79 and a 1-year high of $41.94. The company's fifty day moving average is $38.88 and its 200 day moving average is $37.35.

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, topping analysts' consensus estimates of $0.50 by $0.01. Suncor Energy had a return on equity of 13.21% and a net margin of 11.35%. The business had revenue of $8.81 billion during the quarter, compared to analysts' expectations of $11.56 billion. During the same quarter in the previous year, the business earned $1.27 EPS.

Institutional Investors Weigh In On Suncor Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Suncor Energy by 3.1% during the second quarter. Vanguard Group Inc. now owns 54,631,516 shares of the oil and gas producer's stock worth $2,046,442,000 after buying an additional 1,632,247 shares during the period. Artisan Partners Limited Partnership raised its stake in Suncor Energy by 38.5% in the second quarter. Artisan Partners Limited Partnership now owns 33,722,975 shares of the oil and gas producer's stock valued at $1,264,043,000 after buying an additional 9,378,552 shares during the period. Toronto Dominion Bank increased its stake in shares of Suncor Energy by 3.0% during the fourth quarter. Toronto Dominion Bank now owns 19,098,225 shares of the oil and gas producer's stock worth $680,847,000 after purchasing an additional 552,018 shares during the period. Principal Financial Group Inc. grew its stake in shares of Suncor Energy by 65.0% in the first quarter. Principal Financial Group Inc. now owns 16,018,129 shares of the oil and gas producer's stock valued at $620,136,000 after acquiring an additional 6,311,513 shares in the last quarter. Finally, Mackenzie Financial Corp grew its position in Suncor Energy by 18.6% during the first quarter. Mackenzie Financial Corp now owns 15,377,546 shares of the oil and gas producer's stock worth $595,398,000 after buying an additional 2,410,857 shares in the last quarter. Institutional investors own 67.37% of the company's stock.

Suncor Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th will be paid a dividend of $0.4135 per share. This represents a $1.65 annualized dividend and a dividend yield of 4.3%. This is a boost from Suncor Energy's previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Thursday, September 4th. Suncor Energy's payout ratio is currently 51.08%.

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.