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

Suncor Energy Inc. (NYSE:SU) (TSE:SU) declared a quarterly dividend on Tuesday, February 3rd. Shareholders of record on Wednesday, March 4th will be given 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 yield of 4.5%. The ex-dividend date is Wednesday, March 4th.

Suncor Energy has raised its dividend by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 4 consecutive years. Suncor Energy has a payout ratio of 57.2% meaning its dividend is sufficiently covered by earnings. Equities 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

Shares of NYSE:SU traded down $0.05 during trading on Wednesday, reaching $53.41. 5,186,486 shares of the company’s stock traded hands, compared to its average volume of 5,340,756. Suncor Energy has a fifty-two week low of $30.79 and a fifty-two week high of $55.30. 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 has a market cap of $63.75 billion, a PE ratio of 17.52 and a beta of 0.46. The company has a 50-day simple moving average of $46.37 and a 200-day simple moving average of $42.78.

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 for the quarter, beating the consensus estimate of $0.77 by $0.02. The firm had revenue of $8.77 billion during the quarter, compared to analyst estimates 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 previous year, the business earned $1.25 EPS. As a group, analysts predict that Suncor Energy will post 3.42 earnings per share for the current year.

Institutional Investors Weigh In On Suncor Energy

Several hedge funds and other institutional investors have recently made changes to their positions in SU. Valeo Financial Advisors LLC lifted its position in Suncor Energy by 34.4% during the fourth quarter. Valeo Financial Advisors LLC now owns 10,212 shares of the oil and gas producer’s stock worth $453,000 after buying an additional 2,613 shares in the last quarter. Swiss Life Asset Management Ltd increased its stake in shares of Suncor Energy by 127.5% in the 4th quarter. Swiss Life Asset Management Ltd now owns 230,164 shares of the oil and gas producer’s stock worth $10,218,000 after acquiring an additional 128,972 shares during the last quarter. Asahi Life Asset Management CO. LTD. purchased a new position in shares of Suncor Energy during the 4th quarter worth $280,000. Pure Financial Advisors LLC purchased a new position in shares of Suncor Energy during the 4th quarter worth $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. Institutional investors and hedge funds own 67.37% of the company’s stock.

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.