Q3 2018 EPS Estimates for Suncor Energy Inc. Boosted by Analyst (SU)

Suncor Energy Inc. (NYSE:SU) (TSE:SU) – Investment analysts at Cormark raised their Q3 2018 earnings per share (EPS) estimates for Suncor Energy in a research note issued to investors on Tuesday. Cormark analyst A. Arif now forecasts that the oil and gas producer will post earnings of $0.47 per share for the quarter, up from their previous forecast of $0.47. Cormark also issued estimates for Suncor Energy’s Q4 2018 earnings at $0.49 EPS.

A number of other equities research analysts have also weighed in on the stock. Piper Jaffray Companies set a $46.00 price objective on shares of Suncor Energy and gave the company a “buy” rating in a report on Friday, February 9th. TD Securities raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Friday, February 9th. JPMorgan Chase & Co. raised shares of Suncor Energy from a “neutral” rating to an “overweight” rating in a report on Friday, February 9th. Zacks Investment Research raised shares of Suncor Energy from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a report on Saturday, January 20th. Finally, AltaCorp Capital reissued a “hold” rating and set a $51.00 price objective on shares of Suncor Energy in a report on Monday, January 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $46.67.

Shares of Suncor Energy (SU) traded down $0.11 during mid-day trading on Wednesday, hitting $33.88. The stock had a trading volume of 516,900 shares, compared to its average volume of 3,397,347. The firm has a market capitalization of $55,880.00, a P/E ratio of 15.76, a PEG ratio of 2.17 and a beta of 0.80. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.64 and a current ratio of 1.00. Suncor Energy has a 1-year low of $27.96 and a 1-year high of $38.39.

The company also recently announced a quarterly dividend, which will be paid on Monday, March 26th. Stockholders of record on Monday, March 5th will be paid a dividend of $0.286 per share. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.25. This represents a $1.14 annualized dividend and a dividend yield of 3.38%. The ex-dividend date is Friday, March 2nd. Suncor Energy’s dividend payout ratio is presently 46.98%.

Several hedge funds have recently bought and sold shares of the company. SeaCrest Wealth Management LLC acquired a new position in Suncor Energy during the 4th quarter valued at about $100,000. Cerebellum GP LLC bought a new position in shares of Suncor Energy during the 4th quarter valued at about $134,000. UBS Asset Management Americas Inc. boosted its position in shares of Suncor Energy by 13.7% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 4,658 shares of the oil and gas producer’s stock valued at $136,000 after purchasing an additional 562 shares in the last quarter. Avestar Capital LLC bought a new position in shares of Suncor Energy during the 4th quarter valued at about $148,000. Finally, Forward Management LLC bought a new position in shares of Suncor Energy during the 3rd quarter valued at about $154,000. 65.69% of the stock is currently owned by institutional investors and hedge funds.

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Suncor Energy Company Profile

Suncor Energy Inc is a Canada-based integrated energy company. The Company is focused on developing Canada’s petroleum resource basin, Athabasca oil sands. The Company operates in three business segments: Oil Sands, Exploration and Production (E&P), and Refining and Marketing. The Company’s Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations.

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