Suncor Energy (TSE:SU) Releases Earnings Results

Key Points

• Suncor Energy reported quarterly earnings of C$0.71 per share, with a net margin of 15.15% and a return on equity of 18.10%.
• The company declared a quarterly dividend of $0.57, resulting in an annualized dividend of $2.28 and a yield of 4.2%.
• Wall Street analysts have a Moderate Buy rating on Suncor Energy, with a current average price target of C$62.00.

Suncor Energy (TSE:SU - Get Free Report) NYSE: SU issued its quarterly earnings data on Tuesday. The company reported C$0.71 earnings per share (EPS) for the quarter, RTT News reports. Suncor Energy had a return on equity of 18.10% and a net margin of 15.15%.

Suncor Energy Price Performance

Shares of TSE SU traded up C$0.32 during mid-day trading on Friday, reaching C$53.94. 4,582,993 shares of the company traded hands, compared to its average volume of 8,009,875. Suncor Energy has a fifty-two week low of C$43.59 and a fifty-two week high of C$58.58. The company has a debt-to-equity ratio of 33.35, a current ratio of 1.59 and a quick ratio of 0.83. The firm has a market cap of C$67.65 billion, a PE ratio of 8.52, a price-to-earnings-growth ratio of 0.15 and a beta of 1.47. The stock has a fifty day simple moving average of C$53.17 and a 200-day simple moving average of C$52.31.

Suncor Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Wednesday, June 25th were paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Wednesday, June 4th. Suncor Energy's dividend payout ratio (DPR) is currently 34.42%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. TD Securities lifted their price objective on Suncor Energy from C$62.00 to C$63.00 and gave the company a "buy" rating in a report on Wednesday. ATB Capital lifted their price objective on Suncor Energy from C$60.00 to C$62.00 and gave the company a "sector perform" rating in a report on Thursday. Wells Fargo & Company lifted their price objective on Suncor Energy from C$59.00 to C$60.00 and gave the company an "overweight" rating in a report on Thursday, June 26th. JPMorgan Chase & Co. lowered their price objective on Suncor Energy from C$63.00 to C$62.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Finally, Scotiabank lifted their price target on shares of Suncor Energy from C$60.00 to C$62.00 and gave the company a "sector perform" rating in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of C$62.67.

Insider Buying and Selling

In other Suncor Energy news, Director Russell Girling bought 10,000 shares of Suncor Energy stock in a transaction that occurred on Friday, June 6th. The stock was purchased at an average cost of C$50.41 per share, for a total transaction of C$504,100.00. Also, Senior Officer Jacqueline Sue Moore sold 25,585 shares of the firm's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of C$55.99, for a total transaction of C$1,432,478.57. 0.01% of the stock is owned by company insiders.

About Suncor Energy

Suncor Energy Inc is an integrated energy company. The company's operations include oil sands development, production and upgrading, offshore oil and gas, petroleum refining in Canada and the U.S. and the company's PetroCanada retail and wholesale distribution networks. The company is developing petroleum resources while advancing the transition to a low-emissions future through investment in power, renewable fuels and hydrogen.