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

Suncor Energy Inc. (NYSE:SU) (TSE:SU) declared a quarterly dividend on Tuesday, August 6th, Zacks reports. Shareholders of record on Wednesday, September 4th will be paid a dividend of 0.395 per share by the oil and gas producer on Wednesday, September 25th. This represents a $1.58 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date of this dividend is Wednesday, September 4th.

Suncor Energy has increased its dividend payment by an average of 24.3% per year over the last three years. Suncor Energy has a payout ratio of 42.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Suncor Energy to earn $3.76 per share next year, which means the company should continue to be able to cover its $1.62 annual dividend with an expected future payout ratio of 43.1%.

Suncor Energy Stock Down 1.0 %

Shares of NYSE SU opened at $40.54 on Monday. The stock has a market capitalization of $51.50 billion, a price-to-earnings ratio of 9.03, a P/E/G ratio of 2.73 and a beta of 1.12. Suncor Energy has a 12-month low of $29.45 and a 12-month high of $41.94. The company has a current ratio of 1.46, a quick ratio of 0.93 and a debt-to-equity ratio of 0.26. The firm’s 50-day moving average price is $39.08 and its 200-day moving average price is $37.99.

Suncor Energy (NYSE:SU) (TSE:SU) last posted its quarterly earnings data on Tuesday, August 6th. The oil and gas producer reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.51. The business had revenue of $12.90 billion during the quarter, compared to analyst estimates of $9.30 billion. Suncor Energy had a return on equity of 16.22% and a net margin of 14.40%. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period last year, the company earned $0.71 EPS. On average, equities research analysts anticipate that Suncor Energy will post 3.71 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SU has been the topic of a number of analyst reports. StockNews.com upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Wolfe Research started coverage on shares of Suncor Energy in a report on Thursday, July 18th. They set an “outperform” rating and a $68.00 price target on the stock. BMO Capital Markets raised shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 7th. The Goldman Sachs Group upped their target price on Suncor Energy from $38.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Finally, Scotiabank decreased their price target on Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $54.86.

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.