Suncor Energy (NYSE:SU) Announces Quarterly Earnings Results

Suncor Energy (NYSE:SUGet Free Report) (TSE:SU) released its quarterly earnings data on Tuesday. The oil and gas producer reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.02, Zacks reports. Suncor Energy had a net margin of 10.61% and a return on equity of 13.01%. The company had revenue of $8.77 billion during the quarter, compared to analyst estimates of $8.79 billion. During the same quarter in the prior year, the business earned $1.25 earnings per share.

Suncor Energy Price Performance

NYSE SU opened at $53.42 on Wednesday. The company has a 50-day moving average price of $46.37 and a two-hundred day moving average price of $42.78. Suncor Energy has a 52 week low of $30.79 and a 52 week high of $54.80. The stock has a market cap of $63.75 billion, a price-to-earnings ratio of 17.51 and a beta of 0.46. The company has a current ratio of 1.35, a quick ratio of 0.85 and a debt-to-equity ratio of 0.19.

Suncor Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 4th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend is Wednesday, March 4th. Suncor Energy’s payout ratio is presently 56.39%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Wall Street Zen lowered Suncor Energy from a “buy” rating to a “hold” rating in a research note on Sunday, December 28th. Raymond James Financial raised shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Thursday, November 6th. The Goldman Sachs Group lifted their price target on Suncor Energy from $48.00 to $54.00 and gave the stock a “buy” rating in a research note on Friday, January 23rd. JPMorgan Chase & Co. raised Suncor Energy from a “neutral” rating to an “overweight” rating and upped their price target for the company from $46.15 to $54.00 in a research report on Tuesday, January 20th. Finally, Wells Fargo & Company started coverage on shares of Suncor Energy in a report on Friday, October 17th. They set an “equal weight” rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $57.67.

Check Out Our Latest Stock Report on SU

Key Headlines Impacting Suncor Energy

Here are the key news stories impacting Suncor Energy this week:

Institutional Trading of Suncor Energy

Several large investors have recently added to or reduced their stakes in SU. CIBC Private Wealth Group LLC grew its stake in shares of Suncor Energy by 28.2% in the third quarter. CIBC Private Wealth Group LLC now owns 10,221 shares of the oil and gas producer’s stock worth $427,000 after purchasing an additional 2,247 shares in the last quarter. CIBC Bancorp USA Inc. acquired a new position in shares of Suncor Energy during the third quarter valued at approximately $1,029,000. NewEdge Advisors LLC boosted its stake in Suncor Energy by 64.6% during the 3rd quarter. NewEdge Advisors LLC now owns 110,503 shares of the oil and gas producer’s stock valued at $4,620,000 after purchasing an additional 43,361 shares in the last quarter. Armistice Capital LLC acquired a new stake in shares of Suncor Energy in the third quarter valued at $204,000. Finally, CANADA LIFE ASSURANCE Co grew its holdings in Suncor Energy by 1.9% during the third quarter. CANADA LIFE ASSURANCE Co now owns 220,972 shares of the oil and gas producer’s stock worth $9,250,000 after acquiring an additional 4,162 shares during the period. 67.37% of the stock is currently owned by institutional investors and hedge funds.

Suncor Energy Company Profile

(Get Free Report)

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company’s operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.

See Also

Earnings History for Suncor Energy (NYSE:SU)

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