Suncor Energy (SU) Declares $0.52 Dividend
Suncor Energy said on May 8, 2023 that its board of directors declared a regular quarterly dividend of $0.52 per share ($2.08 annualized). Previously, the company paid $0.52 per share.
Shares must be purchased before the ex-div date of June 2, 2023 to qualify for the dividend. Shareholders of record as of June 5, 2023 will receive the payment on June 26, 2023.
At the current share price of $30.00 / share, the stock's dividend yield is 6.93%.
Additionally, the company's dividend payout ratio is 0.30. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
Learn to Harvest Dividends
Buy Stock. Capture Dividend. Sell Stock. Repeat. This is the essence of dividend harvesting and you can do it easily with Fintel's Dividend Capture Calendar.
What is the Fund Sentiment?
There are 976 funds or institutions reporting positions in Suncor Energy. This is an increase of 32 owner(s) or 3.39% in the last quarter. Average portfolio weight of all funds dedicated to SU is 0.57%, an increase of 4.71%. Total shares owned by institutions increased in the last three months by 2.74% to 950,425K shares. 
The put/call ratio of SU is 0.34, indicating a bullish outlook.
Analyst Price Forecast Suggests 33.42% Upside
As of April 24, 2023, the average one-year price target for Suncor Energy is 40.03. The forecasts range from a low of 32.83 to a high of $51.20. The average price target represents an increase of 33.42% from its latest reported closing price of 30.00.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Suncor Energy is 53,366MM. The projected annual non-GAAP EPS is 6.65.
What are Other Shareholders Doing?
Royal Bank Of Canada holds 71,512K shares representing 5.41% ownership of the company. In it's prior filing, the firm reported owning 68,624K shares, representing an increase of 4.04%. The firm increased its portfolio allocation in SU by 7.01% over the last quarter.
Dodge & Cox holds 41,867K shares representing 3.17% ownership of the company. In it's prior filing, the firm reported owning 42,172K shares, representing a decrease of 0.73%. The firm increased its portfolio allocation in SU by 1.27% over the last quarter.
Bank Of Montreal holds 39,959K shares representing 3.02% ownership of the company. In it's prior filing, the firm reported owning 33,306K shares, representing an increase of 16.65%. The firm increased its portfolio allocation in SU by 23.24% over the last quarter.
Sanders Capital holds 33,550K shares representing 2.54% ownership of the company. In it's prior filing, the firm reported owning 34,070K shares, representing a decrease of 1.55%. The firm increased its portfolio allocation in SU by 5.79% over the last quarter.
Td Asset Management holds 27,727K shares representing 2.10% ownership of the company. In it's prior filing, the firm reported owning 28,309K shares, representing a decrease of 2.10%. The firm increased its portfolio allocation in SU by 8.13% over the last quarter.
Suncor Energy Background Information
(This description is provided by the company.)
Suncor Energy is Canada's leading integrated energy company. Suncor's operations include oil sands development and upgrading, offshore oil and gas production, petroleum refining, and product marketing under the Petro-Canada brand. A member of Dow Jones Sustainability indexes, FTSE4Good and CDP, Suncor is working to responsibly develop petroleum resources while also growing a renewable energy portfolio. Suncor is listed on the UN Global Compact 100 stock index.
This story originally appeared on Fintel.