Suncor Energy Inc. (TSE:SU) (NYSE:SU) – Investment analysts at National Bank Financial lifted their FY2019 earnings estimates for Suncor Energy in a report issued on Monday. National Bank Financial analyst T. Wood now forecasts that the company will post earnings of $3.17 per share for the year, up from their previous estimate of $3.15. National Bank Financial has a “Outperform” rating and a $56.00 price target on the stock.
Several other analysts have also recently commented on the stock. Barclays upped their target price on shares of Suncor Energy from C$50.00 to C$52.00 in a research report on Friday, February 9th. Royal Bank of Canada upped their target price on shares of Suncor Energy from C$49.00 to C$52.00 in a research report on Friday, February 9th. TD Securities upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating and set a C$52.00 target price for the company in a research report on Friday, February 9th. Eight Capital set a C$56.00 target price on shares of Suncor Energy and gave the company a “neutral” rating in a research report on Thursday, January 11th. Finally, Wells Fargo & Co upped their target price on shares of Suncor Energy from C$56.00 to C$59.00 in a research report on Thursday, January 11th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of C$51.54.
The company also recently declared a quarterly dividend, which will be paid on Monday, March 26th. Stockholders of record on Monday, March 5th will be issued a $0.36 dividend. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, March 2nd. This represents a $1.44 annualized dividend and a dividend yield of 3.32%. Suncor Energy’s payout ratio is 46.64%.
In other news, Director Dominic D’alessandro purchased 30,000 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was bought at an average price of C$42.20 per share, with a total value of C$1,266,000.00.
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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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