Suncor Energy Inc. (NYSE:SU) Announces Quarterly Dividend of C$0.60

Suncor Energy Inc. (NYSE:SU) (TSE:SU) declared a quarterly dividend on Tuesday, May 5th. Investors of record on Thursday, June 4th will be paid a dividend of 0.60 per share by the oil and gas producer on Thursday, June 25th. This represents a c) dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Thursday, June 4th.

Suncor Energy has increased its dividend payment by an average of 0.2%per year over the last three years and has increased its dividend every year for the last 4 years. Suncor Energy has a payout ratio of 58.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Suncor Energy to earn $5.24 per share next year, which means the company should continue to be able to cover its $1.75 annual dividend with an expected future payout ratio of 33.4%.

Suncor Energy Stock Performance

Shares of SU opened at $66.81 on Wednesday. The company has a market capitalization of $79.12 billion, a PE ratio of 19.25 and a beta of 0.31. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.89 and a current ratio of 1.39. The company’s 50 day moving average price is $62.30 and its 200 day moving average price is $51.81. Suncor Energy has a 52 week low of $33.50 and a 52 week high of $70.29.

Suncor Energy (NYSE:SU) (TSE:SU) last issued its earnings results on Tuesday, February 3rd. The oil and gas producer reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.02. Suncor Energy had a net margin of 11.99% and a return on equity of 12.51%. The company had revenue of $8.77 billion during the quarter, compared to analyst estimates of $8.79 billion. During the same quarter last year, the business posted $1.25 EPS. Research analysts expect that Suncor Energy will post 6.72 EPS for the current fiscal year.

Institutional Investors Weigh In On Suncor Energy

Several institutional investors and hedge funds have recently modified their holdings of SU. Principal Financial Group Inc. boosted its stake in shares of Suncor Energy by 0.6% during the 3rd quarter. Principal Financial Group Inc. now owns 18,854,921 shares of the oil and gas producer’s stock worth $789,213,000 after acquiring an additional 106,765 shares in the last quarter. Swiss Life Asset Management Ltd raised its stake in shares of Suncor Energy by 35.0% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 101,192 shares of the oil and gas producer’s stock valued at $4,240,000 after acquiring an additional 26,252 shares in the last quarter. Picton Mahoney Asset Management lifted its holdings in Suncor Energy by 314.8% in the 3rd quarter. Picton Mahoney Asset Management now owns 627,313 shares of the oil and gas producer’s stock worth $26,246,000 after purchasing an additional 476,077 shares during the last quarter. American Century Companies Inc. lifted its holdings in Suncor Energy by 2.1% in the 3rd quarter. American Century Companies Inc. now owns 896,556 shares of the oil and gas producer’s stock worth $37,519,000 after purchasing an additional 18,231 shares during the last quarter. Finally, SCP Investment LP bought a new stake in Suncor Energy during the third quarter worth approximately $1,915,000. Institutional investors and hedge funds own 67.37% of the company’s stock.

About Suncor Energy

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.