Suncor Energy Inc., MPLX LP, Sasol Limited and others are enjoying ongoing uptrends…
Markets closed higher yesterday; S&P 500 closed the day at 4,076.6, having gained 1.46%. Dow Jones gained 1.09% and closed at 34,100.
On the other hand, Consumer Confidence in United States fell short of market expectations (109) with a reading of 107.1, continuing the decline from the previous figure of 109.
What is an uptrend?
An uptrend describes the price movement of a continuously appreciative financial asset over a particular time frame. In an uptrend, each successive peak and trough is higher than the ones found earlier in the trend. The uptrend is therefore composed of higher swing lows and higher swing highs.
Suncor Energy continues a 17 day uptrend; climbs 2% yesterday
After setting a $33.64 – $34.76 range, Suncor Energy Inc. closed the day at $34.72 having risen 2%. Bullish sentiment helped the petroleum refiner to hammer out a noteworthy $33.64 to $34.76 range yesterday, and finally closing at $34.72 to end the session. Suncor Energy is scheduled to announce earnings results today. The consensus EPS estimate is 1.26 and the consensus revenue estimate is $10.66 billion. Also, the firm paid out a quarterly dividend of 38.2 cents per share on Friday, December 23rd to all active shareholders as of Friday, December 2nd. Eligible investors secured a quarterly dividend yield of 4.4% for this year.
Suncor Energy is scheduled to announce earnings results today. The consensus Earnings Per Share estimate is 1.26 and the consensus revenue estimate is $10.66 billion.
MPLX continues a 21 day uptrend; increases 0.72% yesterday
After setting a $34.5 – $35.15 range, MPLX closed the day at $34.92 having risen 0.72%. After closing at $34.67 on Monday, MPLX maintained a strong bullish bias that helped the stock close higher at $34.92 yesterday. However, market bears ensured the the large-cap master limited partnership topped out at $35.15 and that by the end of the session, the market had marked out a distinct $34.5 to $35.15 range. Daily trading volume (1.78 million shares) was slightly above the current multiday average of 1.64 million. MPLX disclosed a quarterly dividend of 77.5 cents per share on Tuesday, November 1st that was paid on Tuesday, November 22nd to all shareholders of record up until Tuesday, November 15th. Based on current prices, the company's decision thereby provides MPLX investors with an annual dividend yield of 8.88%.
Sasol continues a 9 day uptrend; rises 0.38% yesterday
After setting a $17.91 – $18.32 range, Sasol closed the day at $18.32 having risen 0.38%. After dipping down to $17.91, Sasol regained earlier losses and ended up at $18.32. Yesterday's trading volume was 130,596 shares which is slightly below the 21-day average of 191,915.
BP continues a 17 day uptrend; moves 0.17% yesterday
BP closed out yesterday at $36.23 after setting a tight $35.63 – $36.24 range. BP recovered back to $36.23 after dipping down to $35.63, in a session that followed Monday's $36.17 close value. Daily trading volume (7.96 million shares) increased, making up 107% of the 21-day average (7.47 million). BP is trading in a $35.63 – $36.24 range prior to its earnings announcement. BP distributed a dividend of 35.5 cents per share on Friday, December 16th for all shareholders on record up until Friday, November 11th. Based on current prices, the decision means shareholders are receiving an annualised dividend yield of 3.92%.