Raymond James Raises Earnings Estimates for Suncor Energy

Suncor Energy Inc. (NYSE:SU) (TSE:SU) – Investment analysts at Raymond James lifted their FY2024 earnings estimates for Suncor Energy in a report released on Wednesday, November 13th. Raymond James analyst M. Barth now expects that the oil and gas producer will post earnings per share of $3.81 for the year, up from their previous forecast 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 research firms have also recently weighed in on SU. TD Securities raised Suncor Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. BMO Capital Markets raised Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 7th. Desjardins raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday. Finally, StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $56.40.

Suncor Energy Stock Up 0.1 %

SU stock opened at $40.48 on Monday. 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 has a market cap of $51.08 billion, a PE ratio of 8.82, a PEG ratio of 2.87 and a beta of 1.12. Suncor Energy has a 1 year low of $29.45 and a 1 year high of $41.94. The company has a fifty day simple moving average of $38.40 and a 200 day simple moving average of $38.77.

Suncor Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 24th. Investors 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. This represents a $1.64 annualized dividend and a yield of 4.04%. The ex-dividend date of this dividend is Tuesday, December 3rd. Suncor Energy’s dividend payout ratio is currently 36.60%.

Institutional Trading of Suncor Energy

Institutional investors and hedge funds have recently modified their holdings of the stock. Eastern Bank acquired a new stake in shares of Suncor Energy in the 3rd quarter valued at about $25,000. Trust Co. of Vermont acquired a new position in Suncor Energy during the second quarter valued at approximately $26,000. Summit Securities Group LLC bought a new stake in shares of Suncor Energy during the 2nd quarter worth approximately $27,000. Richardson Financial Services Inc. boosted its holdings in shares of 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 buying an additional 328 shares during the last quarter. Finally, Ridgewood Investments LLC acquired a new position in Suncor Energy during the second quarter worth $29,000. 67.37% of the stock is owned by institutional investors.

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.