Suncor Energy Inc. (SU) to Issue Quarterly Dividend of $0.41 on December 24th

Suncor Energy Inc. (NYSE:SU) (TSE:SU) announced a quarterly dividend on Wednesday, November 13th,Wall Street Journal reports. Investors of record on Tuesday, December 3rd will be paid a dividend of 0.4089 per share by the oil and gas producer on Tuesday, December 24th. This represents a $1.64 annualized dividend and a yield of 4.14%. The ex-dividend date of this dividend is Tuesday, December 3rd. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.40.

Suncor Energy has increased its dividend payment by an average of 24.3% annually over the last three years. Suncor Energy has a payout ratio of 49.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Suncor Energy to earn $3.13 per share next year, which means the company should continue to be able to cover its $1.63 annual dividend with an expected future payout ratio of 52.1%.

Suncor Energy Stock Down 0.2 %

NYSE:SU opened at $39.48 on Friday. The firm has a market capitalization of $49.67 billion, a PE ratio of 8.60, a price-to-earnings-growth ratio of 2.61 and a beta of 1.12. The stock has a 50 day moving average of $39.12 and a 200-day moving average of $38.86. Suncor Energy has a 52 week low of $29.45 and a 52 week high of $41.94. The company has a current ratio of 1.59, a quick ratio of 1.04 and a debt-to-equity ratio of 0.24.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. StockNews.com raised Suncor Energy from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. TD Securities raised Suncor Energy from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th. BMO Capital Markets raised Suncor Energy from a “market perform” rating to an “outperform” rating in a report on Wednesday, August 7th. Finally, Desjardins raised Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.40.

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.