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

Suncor Energy Inc. (NYSE:SU) (TSE:SU) declared a quarterly dividend on Thursday, February 6th,Wall Street Journal reports. Investors of record on Tuesday, March 4th will be paid a dividend of 0.399 per share by the oil and gas producer on Tuesday, March 25th. This represents a $1.60 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date is Tuesday, March 4th.

Suncor Energy has raised its dividend by an average of 28.1% per year over the last three years. Suncor Energy has a dividend payout ratio of 43.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Suncor Energy to earn $3.25 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 48.9%.

Suncor Energy Trading Down 0.7 %

Shares of SU traded down $0.26 during midday trading on Thursday, hitting $38.44. The stock had a trading volume of 4,469,595 shares, compared to its average volume of 4,443,565. The business has a 50-day simple moving average of $37.67 and a two-hundred day simple moving average of $38.54. The firm has a market cap of $47.84 billion, a P/E ratio of 8.37, a price-to-earnings-growth ratio of 2.89 and a beta of 1.12. The company has a current ratio of 1.59, a quick ratio of 1.04 and a debt-to-equity ratio of 0.24. Suncor Energy has a fifty-two week low of $31.25 and a fifty-two week high of $41.94.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings data on Wednesday, February 5th. The oil and gas producer reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.07. Suncor Energy had a net margin of 15.19% and a return on equity of 15.67%. As a group, equities analysts forecast that Suncor Energy will post 3.7 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on SU shares. Desjardins raised Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $66.00 price objective on shares of Suncor Energy in a research report on Tuesday, January 7th. Finally, Morgan Stanley downgraded shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 16th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Suncor Energy presently has a consensus rating of “Moderate Buy” and an average price target of $58.00.

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.