Will 2018 Be Suncor Energy Inc.'s Best Year Yet?
This year has been a solid one for Canadian oil sands giant Suncor Energy (NYSE: SU). While the company's total return of 7.5% through early December has trailed the red-hot stock market, it still delivered stellar operating results. Oil sands production is on pace to increase 14% versus last year, which, along with higher oil prices and falling costs, helped fuel a 69% surge in funds from operations through the third quarter. Those factors enabled the Canadian oil giant to boost its dividend 10% versus last year's level, which is its 15th straight increase.
That said, as good as this year has been, 2018 could be even better. That's because the company is just putting the finishing touches on two major projects, which should fuel significant production and cash-flow growth next year at a time when oil prices should be at their highest level in a quite a while. Because of that, the company could set new records in several categories. However, it will be hard for some investors to view it as the best year ever if the stock doesn't hit a new all-time high, which will be tough to do given how far it still needs to go.
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Source: Fool.com
