Suncor Energy (TSE:SU) Releases Quarterly 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 posted its earnings results on Tuesday. The company reported C$0.71 earnings per share (EPS) for the quarter, RTT News reports. Suncor Energy had a net margin of 15.15% and a return on equity of 18.10%.

Suncor Energy Stock Down 0.5%

TSE:SU traded down C$0.29 during mid-day trading on Thursday, reaching C$53.62. The company's stock had a trading volume of 10,387,982 shares, compared to its average volume of 8,032,570. Suncor Energy has a 1 year low of C$43.59 and a 1 year high of C$58.58. The stock has a fifty day moving average of C$52.98 and a 200-day moving average of C$52.33. The firm has a market capitalization of C$67.25 billion, a PE ratio of 8.47, a price-to-earnings-growth ratio of 0.15 and a beta of 1.47. The company has a quick ratio of 0.83, a current ratio of 1.59 and a debt-to-equity ratio of 33.35.

Suncor Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders 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 4.3%. The ex-dividend date of this dividend was Wednesday, June 4th. Suncor Energy's payout ratio is currently 34.42%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on SU shares. Raymond James Financial raised their target price on shares of Suncor Energy from C$57.00 to C$58.00 and gave the company a "market perform" rating in a research report on Thursday. Wells Fargo & Company raised their target price on shares of Suncor Energy from C$59.00 to C$60.00 and gave the company an "overweight" rating in a research report on Thursday, June 26th. Desjardins raised their target price on shares of Suncor Energy from C$64.00 to C$65.00 and gave the company a "buy" rating in a research report on Thursday. Scotiabank boosted their target price on shares of Suncor Energy from C$60.00 to C$62.00 and gave the stock a "sector perform" rating in a report on Wednesday. Finally, JPMorgan Chase & Co. reduced their target price on shares of 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. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned 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 price target of C$62.62.

Insider Transactions at Suncor Energy

In other Suncor Energy news, Director Russell Girling bought 10,000 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were purchased at an average price 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 on Tuesday, June 17th. The shares were sold at an average price of C$55.99, for a total value of C$1,432,478.57. 0.01% of the stock is owned by corporate 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.