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

Suncor Energy Inc. (NYSE:SU) (TSE:SU) announced a quarterly dividend on Tuesday, May 5th. Shareholders 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 dividend yield of 3.6%. The ex-dividend date is Thursday, June 4th.

Suncor Energy has increased its dividend by an average of 0.2%annually over the last three years and has raised its dividend annually for the last 4 consecutive years. Suncor Energy has a dividend payout ratio of 58.5% meaning its dividend is sufficiently covered by earnings. Equities research 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 Down 5.5%

Shares of Suncor Energy stock traded down $3.80 on Wednesday, hitting $65.85. 1,167,002 shares of the company traded hands, compared to its average volume of 5,076,319. Suncor Energy has a 12-month low of $33.50 and a 12-month high of $70.29. The company has a quick ratio of 0.89, a current ratio of 1.39 and a debt-to-equity ratio of 0.20. The company has a market cap of $77.98 billion, a PE ratio of 18.99 and a beta of 0.31. The company has a 50-day moving average price of $62.30 and a 200 day moving average price of $51.81.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings data on Tuesday, February 3rd. The oil and gas producer reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.02. Suncor Energy had a return on equity of 12.51% and a net margin of 11.99%.The business had revenue of $8.77 billion during the quarter, compared to analyst estimates of $8.79 billion. During the same period last year, the company earned $1.25 earnings per share. Sell-side analysts predict that Suncor Energy will post 6.72 earnings per share for the current year.

Analyst Upgrades and Downgrades

SU has been the topic of several research reports. Zacks Research raised Suncor Energy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 2nd. JPMorgan Chase & Co. raised Suncor Energy from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $46.15 to $54.00 in a research note on Tuesday, January 20th. Royal Bank Of Canada boosted their price target on Suncor Energy from $75.00 to $89.00 and gave the company an “outperform” rating in a research note on Wednesday, April 1st. The Goldman Sachs Group boosted their price target on Suncor Energy from $66.00 to $73.00 and gave the company a “buy” rating in a research note on Wednesday, April 1st. Finally, ATB Cormark Capital Markets raised Suncor Energy from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, April 1st. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $72.00.

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.