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

Suncor Energy Inc. (NYSE:SU) (TSE:SU) declared a quarterly dividend on Tuesday, February 3rd. Investors 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 by an average of 0.1%annually 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% indicating that its dividend is sufficiently covered by earnings. 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 Price Performance

SU traded up $0.10 during midday trading on Wednesday, hitting $53.56. The stock had a trading volume of 3,766,036 shares, compared to its average volume of 5,291,138. Suncor Energy has a 1 year low of $30.79 and a 1 year high of $55.30. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.85 and a current ratio of 1.35. The business has a fifty day moving average of $46.37 and a 200 day moving average of $42.78. The company has a market cap of $63.93 billion, a P/E ratio of 17.60 and a beta of 0.46.

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, beating analysts’ consensus estimates of $0.77 by $0.02. The company had revenue of $8.77 billion during the quarter, compared to analysts’ expectations of $8.79 billion. Suncor Energy had a net margin of 10.61% and a return on equity of 13.01%. During the same quarter in the prior year, the company earned $1.25 EPS. As a group, equities analysts forecast that Suncor Energy will post 3.42 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Zacks Research lowered Suncor Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 20th. The Goldman Sachs Group raised their target price on Suncor Energy from $48.00 to $54.00 and gave the stock a “buy” rating in a research note on Friday, January 23rd. Wall Street Zen lowered Suncor Energy from a “buy” rating to a “hold” rating in a research report on Sunday, December 28th. Raymond James Financial upgraded Suncor Energy from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 6th. Finally, JPMorgan Chase & Co. raised shares of Suncor Energy from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $46.15 to $54.00 in a research report on Tuesday, January 20th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $57.67.

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.