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, February 3rd. Stockholders of record on Wednesday, March 4th will be paid a dividend of 0.60 per share by the oil and gas producer on Wednesday, March 25th. This represents a c) dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Wednesday, March 4th.

Suncor Energy has raised its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 4 years. Suncor Energy has a dividend payout ratio of 57.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Suncor Energy to earn $3.68 per share next year, which means the company should continue to be able to cover its $1.71 annual dividend with an expected future payout ratio of 46.5%.

Suncor Energy Stock Up 0.2%

SU stock traded up $0.10 during mid-day trading on Wednesday, reaching $53.56. 3,766,036 shares of the company traded hands, compared to its average volume of 5,291,138. The company has a quick ratio of 0.85, a current ratio of 1.35 and a debt-to-equity ratio of 0.19. The firm’s 50 day moving average price is $46.37 and its 200 day moving average price is $42.78. The stock has a market cap of $63.93 billion, a price-to-earnings ratio of 17.60 and a beta of 0.46. Suncor Energy has a fifty-two week low of $30.79 and a fifty-two week high of $55.30.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its quarterly earnings results 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. The business had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.79 billion. Suncor Energy had a return on equity of 13.01% and a net margin of 10.61%.During the same quarter in the prior year, the company posted $1.25 earnings per share. As a group, equities research analysts predict that Suncor Energy will post 3.42 EPS for the current fiscal year.

Institutional Investors Weigh In On Suncor Energy

A number of institutional investors and hedge funds have recently modified their holdings of SU. Valeo Financial Advisors LLC increased its holdings in Suncor Energy by 34.4% during the 4th quarter. Valeo Financial Advisors LLC now owns 10,212 shares of the oil and gas producer’s stock worth $453,000 after acquiring an additional 2,613 shares during the period. Swiss Life Asset Management Ltd boosted its stake in Suncor Energy by 127.5% during the fourth quarter. Swiss Life Asset Management Ltd now owns 230,164 shares of the oil and gas producer’s stock valued at $10,218,000 after buying an additional 128,972 shares during the period. Asahi Life Asset Management CO. LTD. purchased a new position in Suncor Energy during the fourth quarter worth about $280,000. Pure Financial Advisors LLC bought a new position in Suncor Energy in the 4th quarter worth about $274,000. Finally, D Orazio & Associates Inc. boosted its position in shares of Suncor Energy by 3.4% during the 4th quarter. D Orazio & Associates Inc. now owns 7,549 shares of the oil and gas producer’s stock valued at $335,000 after acquiring an additional 250 shares during the last quarter. 67.37% of the stock is owned by hedge funds and other institutional investors.

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.