Suncor Energy Inc. Announces Quarterly Dividend of $0.40 (NYSE:SU)

Suncor Energy Inc. (NYSE:SU) (TSE:SU) announced a quarterly dividend on Tuesday, May 7th, Zacks reports. Shareholders of record on Tuesday, June 4th will be paid a dividend of 0.395 per share by the oil and gas producer on Tuesday, June 25th. This represents a $1.58 annualized dividend and a yield of 3.94%. The ex-dividend date of this dividend is Tuesday, June 4th.

Suncor Energy has increased its dividend by an average of 24.3% per year over the last three years and has increased its dividend every year for the last 3 years. Suncor Energy has a dividend payout ratio of 40.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Suncor Energy to earn $3.78 per share next year, which means the company should continue to be able to cover its $1.59 annual dividend with an expected future payout ratio of 42.1%.

Suncor Energy Trading Up 2.7 %

Shares of NYSE:SU traded up $1.05 during mid-day trading on Thursday, reaching $40.09. 1,796,274 shares of the company were exchanged, compared to its average volume of 4,205,315. The firm has a market cap of $51.61 billion, a price-to-earnings ratio of 8.31, a P/E/G ratio of 3.38 and a beta of 1.11. The firm’s 50-day simple moving average is $37.15 and its 200 day simple moving average is $34.12. Suncor Energy has a 1 year low of $27.59 and a 1 year high of $40.20. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.44 and a quick ratio of 0.88.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings data on Wednesday, February 21st. The oil and gas producer reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.13. Suncor Energy had a net margin of 16.33% and a return on equity of 16.08%. The firm had revenue of $10.39 billion for the quarter, compared to analysts’ expectations of $8.46 billion. During the same period in the prior year, the company earned $1.33 EPS. Equities research analysts forecast that Suncor Energy will post 3.77 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on SU shares. StockNews.com lowered shares of Suncor Energy from a “buy” rating to a “hold” rating in a research note on Wednesday. Morgan Stanley increased their target price on Suncor Energy from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.00.

Suncor Energy Company Profile

Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.