SUNCOR ENERGY INC. $35

SUNCOR ENERGY INC. $35 (Toronto symbol SU; Conservative Growth Portfolio, Resources sector; Shares outstanding: 1.5 billion; Market cap: $52.5 billion; Price-to-sales ratio: 2.1; Dividend yield: 3.3%; TSINetwork Rating: Average; www.suncor.com) is preparing to re-start its main oil sands projects near Fort McMurray, Alberta, now that the wildfires in the region have subsided.

In the quarter ended March 31, 2016, these operations accounted for 95% of the company’s bitumen production.

The shutdown has also forced Suncor’s refining operations in Edmonton to operate below capacity. That has led to gasoline and diesel fuel shortages at its Petro-Canada gas stations in Western Canada.

In response, the company is bringing in fuel from its refineries in eastern Canada. However, higher retail gas prices should offset some of these extra costs. Suncor expects the Edmonton refinery to resume normal operations in the next few weeks.

Suncor is a buy.

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