Suncor Energy Inc. (SU) to Issue Quarterly Dividend of $0.40 on March 25th

Suncor Energy Inc. (NYSE:SU) (TSE:SU) declared a quarterly dividend on Thursday, February 6th,Wall Street Journal reports. Investors of record on Tuesday, March 4th will be paid a dividend of 0.399 per share by the oil and gas producer on Tuesday, March 25th. This represents a $1.60 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date is Tuesday, March 4th.

Suncor Energy has raised its dividend payment by an average of 28.1% annually over the last three years. Suncor Energy has a payout ratio of 43.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Suncor Energy to earn $3.62 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 43.9%.

Suncor Energy Stock Up 0.8 %

Shares of NYSE:SU opened at $38.73 on Friday. Suncor Energy has a 52-week low of $31.25 and a 52-week high of $41.94. The company has a quick ratio of 1.04, a current ratio of 1.59 and a debt-to-equity ratio of 0.24. The business has a fifty day moving average of $37.65 and a two-hundred day moving average of $38.54. The stock has a market cap of $48.20 billion, a P/E ratio of 11.23, a PEG ratio of 2.96 and a beta of 1.12.

Suncor Energy (NYSE:SU) (TSE:SU) last released its quarterly earnings data on Wednesday, February 5th. The oil and gas producer reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.07. Suncor Energy had a net margin of 11.80% and a return on equity of 15.33%. On average, research analysts expect that Suncor Energy will post 3.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on SU shares. Morgan Stanley cut Suncor Energy from an “overweight” rating to an “equal weight” rating in a report on Monday, December 16th. Desjardins raised Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Royal Bank of Canada reissued an “outperform” rating and set a $66.00 price objective on shares of Suncor Energy in a research report on Tuesday, January 7th. Finally, StockNews.com raised shares of Suncor Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th. 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.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $58.00.

Suncor Energy Company Profile

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.