Suncor Energy Inc. (SU) Plans Dividend Increase – $0.36 Per Share

Suncor Energy Inc. (TSE:SU) (NYSE:SU) declared a quarterly dividend on Wednesday, February 7th, RTT News reports. Stockholders of record on Monday, March 5th will be given a dividend of 0.36 per share on Monday, March 26th. This represents a $1.44 annualized dividend and a dividend yield of 3.39%. This is a positive change from Suncor Energy’s previous quarterly dividend of $0.32.

Suncor Energy (SU) traded down C$0.33 during mid-day trading on Wednesday, hitting C$42.45. 3,480,000 shares of the stock traded hands, compared to its average volume of 2,620,000. Suncor Energy has a 1 year low of C$36.09 and a 1 year high of C$47.69. The stock has a market capitalization of $69,920.00, a price-to-earnings ratio of 19.65 and a beta of 0.40.

In related news, insider Mark Stephen Little sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of C$45.51, for a total value of C$45,510.00.

SU has been the subject of several recent research reports. Wells Fargo & Co lifted their target price on shares of Suncor Energy from C$56.00 to C$59.00 in a report on Thursday, January 11th. Barclays lifted their target price on shares of Suncor Energy from C$47.00 to C$49.00 in a report on Tuesday, October 10th. BMO Capital Markets lifted their target price on shares of Suncor Energy from C$50.00 to C$52.00 in a report on Thursday, November 16th. TD Securities lowered shares of Suncor Energy from a “buy” rating to a “hold” rating and set a C$50.00 target price for the company. in a report on Thursday, November 16th. Finally, CIBC lifted their target price on shares of Suncor Energy from C$50.00 to C$53.00 in a report on Tuesday, October 17th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of C$50.71.

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About Suncor Energy

Suncor Energy Inc is a Canada-based integrated energy company. The Company is focused on developing Canada’s petroleum resource basin, Athabasca oil sands. The Company operates in three business segments: Oil Sands, Exploration and Production (E&P), and Refining and Marketing. The Company’s Oil Sands segment includes Oil Sands operations and Oil Sands ventures operations.

Dividend History for Suncor Energy (TSE:SU)

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