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    SU   CA8672241079

SUNCOR ENERGY INC.

(SU)
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Suncor, Indigenous Partners Buy Pipeline Stake From TC Energy

09/16/2021 | 07:33am EDT

By Matt Grossman

Suncor Energy Inc. and partners from eight indigenous communities will buy TC Energy Corp.'s 15% stake in Canada's Northern Courier Pipeline L.P., Suncor said Thursday.

Suncor will operate the pipeline, which connects Suncor's Fort Hills oil asset in Alberta to its East Tank Farm asset. Suncor had obtained the rights to buy TC Energy's stake in the pipeline two years ago.

Suncor's indigenous partners in the deal include three First Nations communities and five Metis communities. Metis are communities largely focused in Canada's prairie provinces who are of mixed indigenous and European descent.

The partners expect annual gross revenues of about 16 million Canadian dollars ($12.7 million), Suncor said. The indigenous groups financed their participation with a non-recourse financing supported by a C$40 million loan guarantee from the Alberta Indigenous Opportunities Corp.

Write to Matt Grossman at matt.grossman@wsj.com

(END) Dow Jones Newswires

09-16-21 0732ET

Stocks mentioned in the article
ChangeLast1st jan.
SUNCOR ENERGY INC. -1.44% 28.69 Delayed Quote.34.38%
TC ENERGY CORPORATION 0.17% 66.5 Delayed Quote.28.50%
WTI -0.37% 82.099 Delayed Quote.69.35%
All news about SUNCOR ENERGY INC.
02:40pWTI Crude Oil Ends Higher on Concerns Demand is Outstripping Supply
MT
02:35pNovember WTI Crude Oil Contract Ends Up US$0.16; Settles at US$82.44 per Barrel
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08:57aOil Continues to Rise on Concerns Demand is Outstripping Supply
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08:26aNY CRUDE BRIEF : WTI Up 1.5% at Near US83.50 and WCS Up 0.5% at Near 67.40
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10/15WTI Oil Rises to New Multi-Year Highs as Focus Stays on Tight Supply Despite U.S. Inven..
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10/15November WTI Crude Oil Ends Up US$0.97; Settles at US$82.28 per Barrel
MT
10/15Oil Rises to New Multi-Year Highs as Focus Stays on Tight Supply Despite U.S. Inventory..
MT
10/15CRUDE BRIEF : NY Crude Up 0.70 or 0.85% at Near 7 Year Highs of US$82; Brent Also Up Near ..
MT
10/14WTI Crude Oil Settles Higher as the IEA Boosts Its Demand Forecast, U.S. Oil Inventorie..
MT
10/14November WTI Crude Oil Contract Ends up US$0.87; Settles at US$81.31 per barrel
MT
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Analyst Recommendations on SUNCOR ENERGY INC.
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Financials
Sales 2021 38 371 M 31 011 M 31 011 M
Net income 2021 3 927 M 3 174 M 3 174 M
Net Debt 2021 13 123 M 10 606 M 10 606 M
P/E ratio 2021 11,1x
Yield 2021 2,93%
Capitalization 43 169 M 34 896 M 34 889 M
EV / Sales 2021 1,47x
EV / Sales 2022 1,31x
Nbr of Employees 12 591
Free-Float 98,5%
Chart SUNCOR ENERGY INC.
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Suncor Energy Inc. Technical Analysis Chart | SU | CA8672241079 | MarketScreener
Technical analysis trends SUNCOR ENERGY INC.
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TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 20
Last Close Price 28,69 CAD
Average target price 37,21 CAD
Spread / Average Target 29,7%
EPS Revisions
Managers and Directors
Mark S. Little President, Chief Executive Officer & Director
Alister Cowan Chief Financial Officer & Executive Vice President
Michael M. Wilson Chairman
Bruno Francoeur Executive Vice President-Business & Operations
Eira Margaret Thomas Independent Director
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