Suncor Energy (NYSE:SU) Issues Quarterly Earnings Results

Suncor Energy (NYSE:SU) (TSE:SU) posted its quarterly earnings results on Wednesday. The oil and gas producer reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.07, Zacks reports. Suncor Energy had a return on equity of 15.67% and a net margin of 15.19%.

Suncor Energy Stock Up 1.5 %

SU stock traded up $0.59 on Wednesday, reaching $38.74. 4,251,360 shares of the company traded hands, compared to its average volume of 4,442,429. The company has a market cap of $48.21 billion, a P/E ratio of 8.44, a price-to-earnings-growth ratio of 2.89 and a beta of 1.12. Suncor Energy has a one year low of $31.25 and a one 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. The firm has a fifty day simple moving average of $37.69 and a 200-day simple moving average of $38.54.

Suncor Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 24th. Shareholders of record on Tuesday, December 3rd were issued a dividend of $0.4089 per share. This is an increase from Suncor Energy’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Tuesday, December 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.22%. Suncor Energy’s dividend payout ratio is 35.08%.

Analyst Ratings Changes

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

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.