Suncor Energy Inc. (NYSE:SU) (TSE:SU) declared a quarterly dividend on Wednesday, February 7th, Zacks reports. Shareholders of record on Monday, March 5th will be given a dividend of 0.286 per share by the oil and gas producer on Monday, March 26th. This represents a $1.14 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend is Friday, March 2nd. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.25.
Suncor Energy has raised its dividend payment by an average of 4.3% annually over the last three years. Suncor Energy has a dividend payout ratio of 73.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Suncor Energy to earn $2.00 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 50.0%.
Suncor Energy (SU) opened at $34.44 on Friday. The company has a quick ratio of 0.64, a current ratio of 1.00 and a debt-to-equity ratio of 0.29. Suncor Energy has a one year low of $27.96 and a one year high of $38.39. The company has a market cap of $56,505.91, a price-to-earnings ratio of 23.11, a P/E/G ratio of 2.11 and a beta of 0.80.
Several research analysts recently commented on the stock. Piper Jaffray Companies set a $46.00 target price on shares of Suncor Energy and gave the stock a “buy” rating in a research note on Friday, February 9th. TD Securities downgraded shares of Suncor Energy from a “buy” rating to a “hold” rating and set a $50.00 target price on the stock. in a research note on Thursday, November 16th. Zacks Investment Research downgraded shares of Suncor Energy from a “buy” rating to a “hold” rating in a research note on Monday, November 20th. Edward Jones raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Monday, November 20th. Finally, JPMorgan Chase & Co. raised shares of Suncor Energy from a “neutral” rating to an “overweight” rating in a research note on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Suncor Energy presently has an average rating of “Buy” and a consensus price target of $46.44.
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Suncor Energy Company Profile
Suncor Energy Inc is a Canada-based integrated energy company. The Company is focused on developing Canada’s petroleum resource basin, Athabasca oil sands. The Company operates in three business segments: Oil Sands, Exploration and Production (E&P), and Refining and Marketing. The Company’s Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations.
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