Energy stocks have struggled in September which was resulted in a broader retreat on the TSX. This occurred even after a rock solid third quarter earnings season for banks and renewed momentum for cannabis stocks. However, investors should not give up on energy stocks just yet.
Let’s look at two stocks that are nice buy-low opportunities while also offering solid dividend.
Suncor (TSX:SU)(NYSE:SU)
Suncor is a Calgary-based energy integrated company, one of the largest in North America. Shares have dropped 4% over the past month as of early afternoon trading on September 20. The stock is still up 9.6% in 2018. Suncor posted record funds from operations of $2.9 billion in the quarter as well as record operating earnings of $1.2 billion.
Oil and gas prices are unlikely to pick up momentum that investors saw in the spring and early summer, but prices are still up solidly year over year. Suncor offers a quarterly dividend of $0.36 per share representing a 2.7% dividend yield.
TORC Oil & Gas Ltd. (TSX:TOG)
TORC Oil and Gas stock is down 10.9% over the past month. Shares have plunged 15.6% in 2018 so far. In the second quarter TORC reported net income of $13.3 million compared to $2.5 million in the prior year.
Adjusted funds flow also grew to $74.6 million over $52.4 million in Q2 2017. The board of directors also announced a dividend of $0.022 per share representing a 3.9% dividend yield.
