Raymond James Weighs in on Suncor Energy FY2029 Earnings

Suncor Energy Inc. (NYSE:SU) (TSE:SU) – Stock analysts at Raymond James issued their FY2029 earnings per share estimates for shares of Suncor Energy in a research note issued on Thursday, February 6th. Raymond James analyst M. Barth forecasts that the oil and gas producer will earn $3.52 per share for the year. The consensus estimate for Suncor Energy’s current full-year earnings is $3.25 per share.

SU has been the subject of several other reports. StockNews.com upgraded Suncor Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $66.00 price objective on shares of Suncor Energy in a research note on Tuesday, January 7th. Morgan Stanley downgraded Suncor Energy from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 16th. Tudor, Pickering, Holt & Co. upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Monday. Finally, Desjardins upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Suncor Energy has a consensus rating of “Moderate Buy” and an average price target of $58.00.

Suncor Energy Stock Up 2.0 %

SU stock opened at $39.53 on Monday. The business’s 50-day moving average is $37.63 and its two-hundred day moving average is $38.55. The company has a market cap of $49.19 billion, a price-to-earnings ratio of 11.46, a P/E/G ratio of 2.96 and a beta of 1.12. Suncor Energy has a fifty-two week low of $31.25 and a fifty-two week high of $41.94. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.04 and a current ratio of 1.59.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its earnings results on Wednesday, February 5th. The oil and gas producer reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.07. Suncor Energy had a net margin of 11.80% and a return on equity of 15.33%.

Suncor Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 4th will be paid a $0.399 dividend. This represents a $1.60 annualized dividend and a yield of 4.04%. The ex-dividend date is Tuesday, March 4th. Suncor Energy’s payout ratio is currently 45.22%.

Institutional Investors Weigh In On Suncor Energy

A number of hedge funds have recently made changes to their positions in SU. AQR Capital Management LLC lifted its position in Suncor Energy by 66.0% during the second quarter. AQR Capital Management LLC now owns 20,605 shares of the oil and gas producer’s stock valued at $785,000 after purchasing an additional 8,194 shares during the last quarter. CWM LLC lifted its holdings in shares of Suncor Energy by 20.2% in the 3rd quarter. CWM LLC now owns 5,312 shares of the oil and gas producer’s stock valued at $196,000 after acquiring an additional 894 shares during the last quarter. Valeo Financial Advisors LLC grew its position in Suncor Energy by 14.6% in the third quarter. Valeo Financial Advisors LLC now owns 7,924 shares of the oil and gas producer’s stock worth $293,000 after acquiring an additional 1,012 shares in the last quarter. Cardinal Capital Management Inc. increased its stake in Suncor Energy by 0.5% during the third quarter. Cardinal Capital Management Inc. now owns 3,711,026 shares of the oil and gas producer’s stock worth $137,144,000 after acquiring an additional 17,179 shares during the last quarter. Finally, CHICAGO TRUST Co NA raised its position in Suncor Energy by 8.8% during the third quarter. CHICAGO TRUST Co NA now owns 10,129 shares of the oil and gas producer’s stock valued at $374,000 after purchasing an additional 823 shares during the period. 67.37% of the stock is currently owned by hedge funds and other 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.