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

Suncor Energy Inc. (NYSE:SU - Get Free Report) TSE: SU declared a quarterly dividend on Thursday, February 6th,Wall Street Journal reports. Shareholders 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 annualized dividend and a yield of 4.04%. The ex-dividend date is Tuesday, March 4th.

Suncor Energy has increased its dividend payment by an average of 28.1% annually over the last three years. Suncor Energy has a payout ratio of 43.7% indicating that 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 Price Performance

Suncor Energy stock traded up $0.78 during mid-day trading on Monday, reaching $39.53. The company had a trading volume of 6,417,078 shares, compared to its average volume of 4,609,157. The stock's 50-day simple moving average is $37.63 and its 200-day simple moving average is $38.55. The company has a market capitalization of $49.19 billion, a P/E ratio of 11.46, a P/E/G ratio of 2.96 and a beta of 1.12. Suncor Energy has a 1 year low of $31.25 and a 1 year high of $41.94. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.59 and a quick ratio of 1.04.

Suncor Energy (NYSE:SU - Get Free Report) TSE: SU last released its quarterly earnings results 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 return on equity of 15.33% and a net margin of 11.80%. On average, equities analysts predict that Suncor Energy will post 3.25 EPS for the current year.

Analyst Ratings Changes

SU has been the topic of several recent research reports. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $66.00 price target on shares of Suncor Energy in a report on Tuesday, January 7th. Desjardins raised Suncor Energy from a "hold" rating to a "buy" rating in a research note on Thursday, November 14th. Tudor, Pickering, Holt & Co. raised Suncor Energy from a "hold" rating to a "buy" rating in a research report on Monday. StockNews.com upgraded Suncor Energy from a "hold" rating to a "buy" rating in a research report on Tuesday, January 14th. Finally, Morgan Stanley cut Suncor Energy from an "overweight" rating to an "equal weight" rating in a research report on Monday, December 16th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target 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.