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

Suncor Energy Inc. (NYSE:SU) (TSE:SU) declared a quarterly dividend on Tuesday, May 7th, Zacks reports. Shareholders of record on Tuesday, June 4th will be given 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% annually over the last three years and has increased its dividend annually for the last 3 consecutive years. Suncor Energy has a payout ratio of 40.1% indicating that its dividend is sufficiently covered by earnings. Research 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 Stock Performance

Shares of SU traded up $1.05 during mid-day trading on Thursday, hitting $40.09. The company’s stock had a trading volume of 1,796,274 shares, compared to its average volume of 4,205,315. Suncor Energy has a one year low of $27.59 and a one year high of $40.20. The firm has a market capitalization of $51.61 billion, a PE ratio of 8.31, a price-to-earnings-growth ratio of 3.38 and a beta of 1.11. The stock’s 50-day moving average is $37.15 and its two-hundred day moving average is $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 posted its earnings results on Wednesday, February 21st. The oil and gas producer reported $0.93 EPS for the quarter, topping the consensus estimate of $0.80 by $0.13. Suncor Energy had a return on equity of 16.08% and a net margin of 16.33%. The business had revenue of $10.39 billion during the quarter, compared to the consensus estimate of $8.46 billion. During the same quarter last year, the company earned $1.33 EPS. As a group, sell-side analysts anticipate that Suncor Energy will post 3.77 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently issued reports on SU. StockNews.com downgraded Suncor Energy from a “buy” rating to a “hold” rating in a report on Wednesday. Morgan Stanley boosted their price objective on shares of Suncor Energy from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, 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.