Suncor Energy Inc. (NYSE:SU) Announces Quarterly Dividend of $0.41

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 given a dividend of 0.4089 per share by the oil and gas producer on Tuesday, December 24th. This represents a $1.64 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date is Tuesday, December 3rd. This is an increase 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 dividend payout ratio of 50.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Suncor Energy to earn $2.90 per share next year, which means the company should continue to be able to cover its $1.62 annual dividend with an expected future payout ratio of 55.9%.

Suncor Energy Price Performance

Shares of NYSE:SU traded up $1.49 during trading on Wednesday, reaching $39.60. The company had a trading volume of 8,516,423 shares, compared to its average volume of 4,247,294. The company has a fifty day moving average of $38.27 and a two-hundred day moving average of $38.74. The stock has a market capitalization of $49.97 billion, a P/E ratio of 8.50, a price-to-earnings-growth ratio of 2.70 and a beta of 1.12. Suncor Energy has a 12 month low of $29.45 and a 12 month high of $41.94. The company has a current ratio of 1.46, a quick ratio of 0.93 and a debt-to-equity ratio of 0.26.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on SU shares. Wolfe Research started coverage on shares of Suncor Energy in a research report on Thursday, July 18th. They issued an “outperform” rating and a $68.00 target price for the company. TD Securities upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. BMO Capital Markets upgraded shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 7th. Finally, StockNews.com upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $56.40.

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.