|Bid||22.93 x N/A|
|Ask||23.13 x N/A|
|Day's Range||22.00 - 23.15|
|52 Week Range||14.02 - 45.12|
|Beta (5Y Monthly)||1.65|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jul. 22, 2020|
|Forward Dividend & Yield||0.84 (3.64%)|
|Ex-Dividend Date||Jun. 03, 2020|
|1y Target Est||30.84|
It's no secret that TSX energy stocks have been beaten down recently. Now the question is, are they dividend bargains or traps?The post TSX Energy Stocks: Dividend Bargain or Trap? appeared first on The Motley Fool Canada.
CALGARY — A rebound in oil prices as consumer demand for gasoline rises will buoy energy companies as they give quarterly results starting next week, but analysts say there are still too many uncertainties to expect any new spending in the sector.The second-quarter reporting season for Canadian major oil and gas producers begins July 22, with results from Calgary-based Suncor Energy Inc.The three months ended June 30 were marked by depressed oil prices blamed on a glut of oil from members of the OPEC-plus group, followed by a severe decline in fuel demand as pandemic lockdowns kicked in.The price impact led to about $8.6 billion in announced capital budget cuts by producers of Canadian oil.The average price of benchmark West Texas Intermediate crude fell to about US$27.85 per barrel in the period, less than half of the US$59.82 registered a year earlier — a slide that included closing for the first time at a negative level on one day in April amid fears that North American crude storage was nearing its limit.The price has been above US$40 per barrel for most of June."While three months ago we would have proclaimed Q2 results to likely be a complete writeoff in terms of relevance for investors, we no longer feel that way," said analyst Michael Dunn of Stifel FirstEnergy in a report.He predicted upside surprises in second quarter cash flow from operations for Suncor and Canadian Natural Resources Ltd. and higher-than-expected oilsands bitumen production from MEG Energy Corp. and Cenovus Energy Inc.Investors will be keenly interested in progress in cutting costs and in forward guidance for the rest of 2020 and 2021, he said, adding concerns about financial liquidity have largely dissipated thanks to recent successful debt financings.Canadian energy companies are taking heart from falling crude storage levels and ample export pipeline capacity to bring back oil output voluntarily shut down over the past few months, said Phil Skolnick, an analyst for Eight Capital.He said the second quarter will be the worst this year for most energy companies."They're going to be impacted by very low oil prices in March, and then that was offset partially by the increase in oil prices but, nonetheless, this (quarter) will basically be the bottom for earnings and cash flows for this year," he said.He says his sources indicate that about 500,000 barrels per day of Canadian oil production has been returned to service from the total of about 800,000 bpd taken out as prices reached their lows.Optimism will be offset by fears of more economic disruption if there's a major second wave of the pandemic, along with the growing risk of more pipeline headaches after recent U.S. court setbacks for projects including the Keystone XL, Line 5 and Dakota Access pipelines.Companies with refining assets are expected to report very low utilization rates due to the economic slowdown but their profit margins will be bolstered by the low price of oil feedstock, Skolnick said.He said demand is up in North America for gasoline and diesel but remains depressed for jet fuel.This report by The Canadian Press was first published July 14, 2020.Companies in this story: (TSX:SU, TSX:CNQ, TSX:MEG, TSX:CVE) Dan Healing, The Canadian Press
Warren Buffett suggests that investors should look for value, which means that this hot stock market may be a dangerous proposition in the summer.The post Warren Buffett: Should You Brace for a Market Crash? appeared first on The Motley Fool Canada.
TORONTO — Some of the most active companies traded Monday on the Toronto Stock Exchange:Toronto Stock Exchange (15,639.41, down 74.41 points.)The Toronto-Dominion Bank (TSX:TD). Financials. Up 84 cents, or 1.4 per cent, to $60.76 on 9 million shares.B2Gold Corp. (TSX:BTO). Materials. Down 21 cents, or 2.6 per cent, to $7.86 on 8.2 million shares.Enbridge Inc. (TSX:ENB). Energy. Up 24 cents, or 0.6 per cent, to $40.39 on 7.4 million shares.Canadian Natural Resources Ltd. (TSX:CNQ). Energy. Up 14 cents, or 0.61 per cent, to $23.05 on 7.3 million shares.Suncor Energy Inc. (TSX:SU). Energy. Up 15 cents, or 0.68 per cent, to $22.10 on 6.2 million shares.Aphria Inc. (TSX:APHA). Health care. Up 52 cents, or 8.92 per cent, to $6.35 on 6 million shares.Companies in the news:Pieridae Energy Ltd. (TSX:PEA). Down one cent or 2.9 per cent to 33.5 cents. Pieridae Energy Ltd. says the engineering company it hired to build its proposed Goldboro LNG export facility in Nova Scotia is withdrawing from an agreement to provide a fixed price contract for the job. The Calgary-based company says it has received written notice from Kellogg Brown & Root Ltd. that it is no longer prepared to enter into a lump-sum turnkey engineering, procurement, construction and commissioning contract for the project as agreed in March 2019, although it is willing to provide the services on other terms. Pieridae CEO Alfred Sorensen says the company is considering options including legal action in response, but has already had discussions with other firms willing to replace KBR. In May, Pieridae announced a delay in making a final decision on proceeding with the project to export liquefied natural gas from Canada's East Coast, citing technical obstacles created by COVID-19.Intertape Polymer Group Inc. (TSX:ITP). Up 60 cents or 4.7 per cent to $13.29. Intertape Polymer Group Inc. says its second-quarter revenue was substantially above its expectations due to strong demand as customers resumed activity following their COVID closures. According to Intertape's preliminary estimate, revenue for the three months ended June 30 was US$267 million — 6.8 per cent above the high end of its May 13 estimate. It says the result implies that its adjusted earnings will also best the top end of its estimate range. The company manufacturers a variety of products used for packaging, including tapes and films. The company had experienced a 10 per cent year-over-year decline in sales over the first part of the quarter to May 8 because of the COVID slowdown. Intertape withdrew its full-year guidance in May because of the uncertain environment, but estimated it would have between US$235 million and US$250 million of revenue in the second quarter. Yamana Gold Inc. (TSX:YRI). Down 28 cents or 3.7 per cent to $7.21. Yamana Gold Inc. says the Canadian Malartic mine in Quebec has ramped up production more quickly than anticipated following a COVID-related shut-down. The mine, one of North America's largest gold producers, milled more than 60,000 tonnes per day of ore in both May and June, partially offsetting the down time and ramp-up in production that began April 15 after the province allowed work to resume. Yamana estimates its total gold production for the second quarter was 164,141 ounces, including Canadian Malartic and its four South American mines. Silver production was estimated at about two million ounces. Yamana says all of the mines exceeded planned production targets in the second quarter and it continues to expect more production, improved costs and significant cash flows in the second half of 2020. The Toronto-based company has a 50 per cent ownership stake in Canadian Malartic, with the other half owned by Agnico Eagle Mines Ltd.This report by The Canadian Press was first published July 13, 2020.The Canadian Press
Suncor has eroded a significant portion of investors’ wealth this year.The post $500 Invested in Suncor (TSX:SU) Stock at the Start of 2020 Would Be Worth This Much Now! appeared first on The Motley Fool Canada.
Air Canada (TSX:AC) and Suncor Energy (TSX:SU)(NYSE:SU) are two turnaround stocks that could pay off big time. Find out which one is more appealing. The post Air Canada (TSX:AC) Vs. Suncor (TSX:SU): Which Stock Could Double This Year? appeared first on The Motley Fool Canada.
I'm tempted to buy Suncor Energy Inc. (TSX:SU)(NYSE:SU) and another battered dividend stock right now for sustainable but large dividends.The post 2 Dirt-Cheap TSX Income Stocks That Pay Big Dividends appeared first on The Motley Fool Canada.
Investors are once again looking for high-risk, high-reward plays. Here are my top three picks: Suncor Energy (TSX:SU)(NYSE:SU), Inter Pipeline (TSX:IPL), and H&R REIT (TSX:HR.UN).The post Buy Alert: 3 Cash-Rich TSX Picks to Buy Today appeared first on The Motley Fool Canada.
Shares of Suncor Energy Inc (TSX:SU)(NYSE:SU) have been cut in half this year.The post Is Suncor (TSX:SU) a Bargain Buy? appeared first on The Motley Fool Canada.
This TSX energy stock offers a huge growth opportunity with steady income. The post Forget Suncor (TSX:SU): Earn Big With This Energy Stock appeared first on The Motley Fool Canada.
(Bloomberg) -- This week’s escalation of American pipeline setbacks is heightening concerns among Canadian oil producers who export almost all of their crude to the U.S.Alex Pourbaix, the chief executive officer of Cenovus Energy Inc., called a ruling temporarily shutting down the Dakota Access pipeline on Monday “pretty disturbing” in its implications that existing conduits may now be at risk. His concerns were echoed by the CEOs of Suncor Energy Inc. and Exxon Mobil Corp.’s Imperial Oil Ltd.“If that would be the new standard, I think it’s going to be incredibly difficult for anybody to invest in any kind of infrastructure,” Pourbaix, who formerly served as chief operating officer of pipeline giant TransCanada Corp., said Tuesday during a Toronto-Dominion Bank conference. “If there’s an opportunity to come back on those regulatory decisions years after the fact, I think that’s a real significant problem.”Crude from the oil sands, a landlocked area of northern Alberta that holds the world’s third-largest crude reserves, is almost entirely shipped through U.S. pipelines to refineries in the Midwest and Gulf Coast. The lack of enough shipping capacity has been the dominant problem facing the industry for the past several years.On Sunday, U.S. power company Dominion Energy Inc. and partner Duke Energy Corp. said they’re killing the controversial Atlantic Coast gas pipeline, citing ongoing delays and uncertainty on costs. The next day, a U.S. district court ruled that Energy Transfer LP’s Dakota Access pipeline will have to shut down in about a month because a federal permit for the line fell short of environmental requirements. Later that day, the U.S. Supreme Court left in force a lower court order that blocks construction on TC Energy Corp.’s Keystone XL pipeline.Also See: Grim Day for Pipelines Shows They’re Almost Impossible to BuildCanada’s oil-sands industry was counting on recent momentum on key projects like the Trans Mountain expansion that links the oil sands to the Pacific Coast, and the replacement and expansion of Enbridge Inc.’s Line 3, which links Hardisty, Alberta, to Superior, Wisconsin. While producers had grown used to delays on new projects, the ruling on the Dakota Access line was particularly worrying because it had already been operating for three years.Similarly, Canadian producers have also had to deal with a temporary shutdown of Enbridge’s Line 5, which helps carry crude and natural gas liquids to refineries in eastern Canada. A Michigan judge ordered the full line shut down last month after damage was found on a portion of it running through the Great Lakes. While Enbridge was allowed to restart the line a week later, Michigan’s governor and attorney general still are working to force the line to cease operations.Imperial has been looking at using ships and rail to supply Ontario refineries in case the line has an extended shutdown, CEO Brad Corson said Tuesday at the TD Securities conference.“The team worked quite proactively over the last couple of weeks to make sure we had adequate contingency plans in place should Line 5 be interrupted for an extended period of time,” he said.Suncor CEO Mark Little said his company also relies on Line 5 to supply its refineries in Sarnia, Ontario, and Montreal. The company can use rail, ships or a Maine pipeline to supply those facilities, but those are costlier methods, and a shutdown of the line would be a “huge potential threat” and could increase the price of oil products like gasoline in the U.S. and Canada, Little said.“This is something that would impact consumers in all of those markets,” he said.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Suncor’s high valuation and uncertain economic outlook play spoilsport.The post Suncor (TSX:SU) Stock Dips Below $23: Should You Buy? appeared first on The Motley Fool Canada.
Suncor Energy (TSX:SU) is down 50% from the 2020 high. Is the stock a buy at this level?The post Is Suncor Energy (TSX:SU) a Cheap Stock Today? appeared first on The Motley Fool Canada.
Suncor Energy Inc. (TSX:SU)(NYSE:SU) is a Warren Buffett stock I'll be looking to buy if the market crashes in the second half of 2020.The post A Warren Buffett Stock I'd Buy If Markets Crash Again appeared first on The Motley Fool Canada.
This group of high-yield dividend stocks, including Royal Bank of Canada (TSX:RY)(NYSE:RY), can help give your portfolio a much-needed raise.The post Got $10K to Invest? Create a "Dream Income Stream" With These 3 High-Yield Stocks appeared first on The Motley Fool Canada.
Will Canadian Natural Resources Ltd. (TSX:CNQ)(NYSE:CNQ) follow Suncor Energy Inc. (TSX:SU)(NYSE:SU) and cut its dividend by around half?The post Canadian Natural Resources (TSX:CNQ): How Safe Is the Dividend? appeared first on The Motley Fool Canada.
Take a closer look at Suncor Energy and why the Oracle of Omaha loves this dirt-cheap oil company even amid the market volatility.The post This Dirt-Cheap Warren Buffett TSX Stock Should Be Your Top Pick appeared first on The Motley Fool Canada.
Warren Buffett broke his “American only” rule in favour of a pair of super TSX stocks. By his standards, the Restaurant Brands International stock and Suncor Energy stock are worth keeping.The post Warren Buffett Is Holding Onto These 2 Super TSX Stocks appeared first on The Motley Fool Canada.
Canadian pipeline operator Enbridge Inc can restart operations at the west leg of its Line 5 pipeline while the damaged east leg remains shut, a Michigan circuit court judge ruled on Wednesday. The ruling comes after the judge granted the Michigan attorney general's motion for a temporary restraining order last Thursday, requiring Enbridge to halt Line 5 operations. The judge also ruled the company has to disclose details about recent damage to the oil pipeline.
CERB users should buy TC Energy Corp. (TSX:TRP)(NYSE:TRP) and two other promising dividend plays to boost their income.The post CERB Users: Give Yourself a Big, Fat Raise With These 3 Passive-Income Generators appeared first on The Motley Fool Canada.
Top TSX stocks: Here are three oversold Canadian giants with strong fundamentals that offer handsome upside potential over the long term. The post TSX Stocks: 3 OVERSOLD Canadian Giants to Buy Today appeared first on The Motley Fool Canada.
Warren Buffett is exposed to the Canadian oil sector through Suncor stock, and he hasn't given up on the company the way he did with airline stocks.The post Warren Buffett Likes This 1 Hammered-Down TSX Stock appeared first on The Motley Fool Canada.
Despite the 55% dividend cut, the Suncor stock remains a solid pick if you want exposure in the energy sector. However, the space is riddled with uncertainties, including the threat of another oil price plunge.The post Suncor (TSX:SU) Slashes Dividends by 55% appeared first on The Motley Fool Canada.
Suncor could be an attractive Warren Buffett stock as he continues to remain patient with the market right now.The post What Does Warren Buffett Know That We Don't? appeared first on The Motley Fool Canada.
Active and momentum investors should consider buying stock in Suncor Energy (TSX:SU)(NYSE:SU) following news that Saudi Arabia opened a long position in the stock.The post Saudi Arabia Bought This TSX Energy Stock appeared first on The Motley Fool Canada.