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

Suncor Energy Inc. (NYSE:SU) (TSE:SU) declared a quarterly dividend on Tuesday, May 7th, Zacks reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date is Tuesday, June 4th.

Suncor Energy has increased its dividend payment by an average of 24.3% annually over the last three years and has raised its dividend annually for the last 3 consecutive years. Suncor Energy has a dividend payout ratio of 40.1% meaning its dividend is sufficiently covered by earnings. 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 2.5 %

Shares of NYSE:SU traded up $0.97 during midday trading on Thursday, reaching $40.01. The company’s stock had a trading volume of 1,972,908 shares, compared to its average volume of 4,207,139. The firm has a market capitalization of $51.50 billion, a price-to-earnings ratio of 8.53, a PEG ratio of 3.38 and a beta of 1.11. Suncor Energy has a fifty-two week low of $27.59 and a fifty-two week high of $40.20. The firm has a 50 day moving average price of $37.15 and a two-hundred day moving average price of $34.12. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.88 and a current ratio of 1.44.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings data on Wednesday, February 21st. The oil and gas producer reported $0.93 earnings per share (EPS) for the quarter, topping 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 company had revenue of $10.39 billion for the quarter, compared to analysts’ expectations of $8.46 billion. During the same quarter in the prior year, the firm earned $1.33 EPS. As a group, analysts forecast that Suncor Energy will post 3.77 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on SU. Morgan Stanley boosted their price target on shares of Suncor Energy from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. StockNews.com lowered Suncor Energy from a “buy” rating to a “hold” rating in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $52.00.

About Suncor Energy

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.