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

Suncor Energy Inc. (NYSE:SU) (TSE:SU) announced a quarterly dividend on Thursday, February 6th,Wall Street Journal reports. Investors of record on Tuesday, March 4th will be given 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 dividend 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. Equities research 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 Suncor Energy stock opened at $38.73 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.59 and a debt-to-equity ratio of 0.24. Suncor Energy has a 52-week low of $31.25 and a 52-week high of $41.94. The company has a market capitalization of $48.20 billion, a P/E ratio of 11.23, a P/E/G ratio of 2.96 and a beta of 1.12. The company has a 50 day moving average of $37.65 and a 200 day moving average of $38.54.

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%. As a group, research analysts forecast that Suncor Energy will post 3.25 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on SU. Royal Bank of Canada reiterated an “outperform” rating and issued a $66.00 price objective on shares of Suncor Energy in a report on Tuesday, January 7th. StockNews.com upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Desjardins upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Finally, Morgan Stanley lowered shares of Suncor Energy from an “overweight” rating to an “equal weight” rating in a research note on Monday, December 16th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Suncor Energy presently has an average rating of “Moderate Buy” and a consensus target price of $58.00.

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.