Suncor Energy Inc. (TSE:SU) (NYSE:SU) – Equities researchers at National Bank Financial upped their FY2019 earnings per share estimates for shares of Suncor Energy in a research note issued on Wednesday. National Bank Financial analyst T. Wood now expects that the company will earn $3.20 per share for the year, up from their prior forecast of $3.17. National Bank Financial has a “Outperform” rating and a $56.00 price objective on the stock.
Other research analysts also recently issued research reports about the stock. CIBC upped their price target on shares of Suncor Energy from C$53.00 to C$55.00 in a research report on Thursday, November 16th. Royal Bank of Canada increased their price objective on shares of Suncor Energy from C$47.00 to C$48.00 in a report on Thursday, November 16th. BMO Capital Markets increased their price objective on shares of Suncor Energy from C$50.00 to C$52.00 in a report on Thursday, November 16th. GMP Securities increased their price objective on shares of Suncor Energy from C$42.00 to C$43.00 in a report on Thursday, November 16th. Finally, Wells Fargo & Co increased their price objective on shares of Suncor Energy from C$56.00 to C$59.00 in a report on Thursday, January 11th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Suncor Energy has a consensus rating of “Buy” and an average price target of C$51.50.
The company also recently disclosed 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 represents a $1.44 dividend on an annualized basis and a dividend yield of 3.35%. 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. Suncor Energy’s dividend payout ratio (DPR) is presently 47.76%.
In related news, insider Steven Walter Williams sold 800 shares of Suncor Energy stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of C$44.03, for a total transaction of C$35,224.00. Also, Director Dominic D’alessandro purchased 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were bought at an average price of C$42.20 per share, for a total transaction of C$1,266,000.00.
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About Suncor Energy
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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