Suncor Energy Inc. (TSE:SU) Declares Dividend Increase – $0.57 Per Share

Suncor Energy Inc. (TSE:SU) (NYSE:SU) declared a quarterly dividend on Tuesday, December 3rd,TickerTech Dividends reports. Shareholders of record on Tuesday, December 24th will be given a dividend of 0.57 per share on Tuesday, December 24th. This represents a $2.28 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date is Tuesday, December 3rd. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.55.

Suncor Energy Stock Performance

Shares of TSE:SU opened at C$55.71 on Monday. The business has a 50-day moving average of C$54.05 and a two-hundred day moving average of C$53.36. The firm has a market capitalization of C$70.75 billion, a PE ratio of 9.57, a P/E/G ratio of 0.15 and a beta of 1.47. The company has a debt-to-equity ratio of 34.98, a current ratio of 1.46 and a quick ratio of 0.83. Suncor Energy has a 12 month low of C$40.07 and a 12 month high of C$58.28.

Insider Activity at Suncor Energy

In other Suncor Energy news, Senior Officer Kristopher Peter Smith sold 105,000 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of C$57.10, for a total value of C$5,995,185.00. Also, Senior Officer Shelley Powell sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of C$56.87, for a total transaction of C$2,843,700.00. 0.01% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SU. TD Securities increased their target price on Suncor Energy from C$60.00 to C$62.00 in a research note on Wednesday, November 13th. BMO Capital Markets upgraded shares of Suncor Energy from a “market perform” rating to an “outperform” rating and set a C$62.00 price objective on the stock in a research note on Wednesday, August 7th. Desjardins raised shares of Suncor Energy from a “hold” rating to a “moderate buy” rating in a research report on Thursday, November 14th. Raymond James raised their price target on shares of Suncor Energy from C$52.00 to C$56.00 in a report on Thursday, November 14th. Finally, National Bankshares boosted their price objective on shares of Suncor Energy from C$73.00 to C$76.00 in a report on Thursday, November 14th. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$62.32.

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.