FY2024 EPS Estimates for Suncor Energy Raised by Analyst

Suncor Energy Inc. (NYSE:SU) (TSE:SU) – Equities researchers at Raymond James increased their FY2024 EPS estimates for Suncor Energy in a report issued on Wednesday, November 13th. Raymond James analyst M. Barth now forecasts that the oil and gas producer will earn $3.81 per share for the year, up from their prior estimate 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.

SU has been the topic of a number of other research reports. Desjardins upgraded Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. TD Securities upgraded Suncor Energy from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. BMO Capital Markets upgraded Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Wednesday, August 7th. Finally, StockNews.com upgraded 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 assigned a buy rating to the company. Based on data from MarketBeat, Suncor Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.40.

Suncor Energy Price Performance

SU stock opened at $40.81 on Monday. The firm has a market capitalization of $51.49 billion, a PE ratio of 8.89, a P/E/G ratio of 2.87 and a beta of 1.12. Suncor Energy has a one year low of $29.45 and a one year high of $41.94. 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 50-day moving average of $38.47 and a two-hundred day moving average of $38.79.

Hedge Funds Weigh In On Suncor Energy

A number of hedge funds have recently added to or reduced their stakes in SU. BNP Paribas Financial Markets grew its holdings in Suncor Energy by 2,358.4% during the first quarter. BNP Paribas Financial Markets now owns 17,209 shares of the oil and gas producer’s stock valued at $635,000 after purchasing an additional 16,509 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Suncor Energy by 1.4% in the first quarter. Vanguard Group Inc. now owns 51,226,454 shares of the oil and gas producer’s stock valued at $1,890,768,000 after purchasing an additional 691,497 shares during the period. UniSuper Management Pty Ltd raised its position in shares of Suncor Energy by 87.6% in the first quarter. UniSuper Management Pty Ltd now owns 18,200 shares of the oil and gas producer’s stock valued at $672,000 after purchasing an additional 8,500 shares during the period. Lake Street Advisors Group LLC bought a new position in shares of Suncor Energy in the first quarter valued at approximately $217,000. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Suncor Energy by 305.9% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,725,000 shares of the oil and gas producer’s stock valued at $63,687,000 after purchasing an additional 1,300,000 shares during the period. Institutional investors and hedge funds own 67.37% of the company’s stock.

Suncor Energy Increases Dividend

The company 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. The ex-dividend date is Tuesday, December 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 4.01%. This is an increase from Suncor Energy’s previous quarterly dividend of $0.40. Suncor Energy’s dividend payout ratio is currently 36.60%.

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.