Suncor Energy Inc. (SU) To Go Ex-Dividend on September 4th

Suncor Energy Inc. (NYSE:SU) (TSE:SU) declared a quarterly dividend on Tuesday, August 4th. Investors of record on Friday, September 4th will be given a dividend of 0.60 per share by the oil and gas producer on Friday, September 25th. This represents a c) dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Friday, September 4th.

Suncor Energy has raised its dividend payment by an average of 0.2%per year over the last three years and has raised its dividend annually for the last 4 consecutive years. Suncor Energy has a payout ratio of 57.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Suncor Energy to earn $5.88 per share next year, which means the company should continue to be able to cover its $1.73 annual dividend with an expected future payout ratio of 29.4%.

Suncor Energy Trading Down 2.4%

NYSE:SU opened at $62.91 on Thursday. The company has a market capitalization of $74.28 billion, a PE ratio of 11.59, a P/E/G ratio of 0.48 and a beta of 0.30. Suncor Energy has a 52-week low of $37.76 and a 52-week high of $70.29. The stock’s 50 day moving average price is $60.55 and its 200 day moving average price is $60.50. The company has a quick ratio of 0.92, a current ratio of 1.42 and a debt-to-equity ratio of 0.20.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.41 earnings per share for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). The firm had revenue of $10.41 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Suncor Energy had a net margin of 15.62% and a return on equity of 20.35%. During the same quarter in the prior year, the firm posted $1.31 EPS. On average, research analysts anticipate that Suncor Energy will post 7.11 EPS for the current year.

Key Stories Impacting Suncor Energy

Here are the key news stories impacting Suncor Energy this week:

• Positive Sentiment: Quarterly earnings beat expectations: Suncor reported second-quarter earnings of C$2.33 per share, above the C$2.14 consensus estimate and well ahead of C$0.71 a year earlier. Revenue reached C$13.41 billion versus the C$11.68 billion estimate, while net profit was reported at approximately C$3.7 billion. Higher crude-price realizations and stronger refining margins drove the improvement. Suncor beats quarterly profit estimates on higher crude realizations, refining margins
• Positive Sentiment: Dividend maintained: Suncor declared a quarterly dividend of C$0.60 per share, payable September 25 to shareholders of record September 4. The annualized payout represents a yield of roughly 3.8%, supporting the stock’s income appeal. Suncor Energy declares dividend
• Neutral Sentiment: Policy backdrop is favorable: Federal and Alberta governments are pursuing reforms intended to support Canadian oil-industry growth. However, the immediate financial benefit remains uncertain. Suncor not ready to speed output growth
• Negative Sentiment: Management is resisting faster production growth: CEO Rich Kruger said Suncor is not yet prepared to accelerate planned output increases despite the pro-oil policy environment. This limits near-term volume upside and may disappoint investors seeking faster growth from the company’s oil-sands assets. Suncor not ready to speed output growth

Suncor Energy Company Profile

Suncor Energy Inc is a Canadian integrated energy company headquartered in Calgary, Alberta. The company’s operations span the full oil and gas value chain, with principal activities in oil sands development and production, conventional exploration and production, refining, distribution and retail marketing of petroleum products. Suncor supplies crude, synthetic crude and refined fuels as well as related products and services to commercial and consumer markets.

Upstream, Suncor is a major developer and operator of oil sands projects in Alberta, using both mining and in situ technologies to produce bitumen and synthetic crude.