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

Suncor Energy Inc. (NYSE:SU) (TSE:SU) announced a quarterly dividend on Tuesday, May 7th, Zacks reports. Shareholders 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 annualized dividend and a yield of 3.93%. The ex-dividend date is Tuesday, June 4th.

Suncor Energy has increased its dividend 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 payout ratio of 40.1% meaning its dividend is sufficiently covered by earnings. Equities 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 Suncor Energy stock traded up $1.14 during trading on Thursday, hitting $40.18. 2,165,265 shares of the stock were exchanged, compared to its average volume of 4,209,411. The stock has a market capitalization of $51.72 billion, a price-to-earnings ratio of 8.53, a price-to-earnings-growth ratio of 3.38 and a beta of 1.11. The company has a fifty day moving average price of $37.15 and a 200-day moving average price of $34.12. Suncor Energy has a 1-year low of $27.59 and a 1-year high of $40.20. The company has a current ratio of 1.44, a quick ratio of 0.88 and a debt-to-equity ratio of 0.26.

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 for the quarter, topping the consensus estimate of $0.80 by $0.13. The company had revenue of $10.39 billion for the quarter, compared to analyst estimates of $8.46 billion. Suncor Energy had a net margin of 16.33% and a return on equity of 16.08%. During the same period in the previous year, the business earned $1.33 EPS. As a group, equities analysts predict that Suncor Energy will post 3.77 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SU shares. StockNews.com lowered shares of Suncor Energy from a “buy” rating to a “hold” rating in a research note on Wednesday. Morgan Stanley upped their price target on shares of Suncor Energy from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.