Trade Report: Today, BMO Capital Markets Reaffirmed “Outperform” Rating for Suncor Energy Inc. (SU)

Today, BMO Capital Markets Reaffirmed “Outperform” Rating for Suncor Energy Inc. (SU)

BMO Capital Markets restated their outperform rating on shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) in a research note issued to investors on Monday. BMO Capital Markets currently has a $50.00 price target on the stock.

A number of other analysts have also recently weighed in on SU. Bank of America Corp. initiated coverage on Suncor Energy in a research report on Friday, August 19th. They issued a buy rating and a $33.00 price target for the company. Scotiabank reaffirmed an outperform rating and issued a $38.00 price target on shares of Suncor Energy in a research report on Sunday, July 31st. Nomura reaffirmed a buy rating and issued a $45.00 price target on shares of Suncor Energy in a research report on Monday, November 7th. RBC Capital Markets reaffirmed an outperform rating and issued a $42.00 price target on shares of Suncor Energy in a research report on Sunday, October 2nd. Finally, Zacks Investment Research cut Suncor Energy from a buy rating to a hold rating in a research report on Monday, August 8th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $41.15.

Suncor Energy (NYSE:SU) opened at 31.53 on Monday. The firm’s 50-day moving average price is $29.61 and its 200-day moving average price is $27.83. Suncor Energy has a 12-month low of $18.71 and a 12-month high of $32.19. The company’s market cap is $52.50 billion.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 23rd. Stockholders of record on Friday, December 2nd will be paid a $0.216 dividend. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $0.86 annualized dividend and a dividend yield of 2.74%. Suncor Energy’s dividend payout ratio is currently -81.65%.

Several large investors have recently added to or reduced their stakes in SU. BlackRock Japan Co. Ltd bought a new stake in Suncor Energy during the second quarter valued at $108,000. Bronfman E.L. Rothschild L.P. increased its position in shares of Suncor Energy by 69.1% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 4,404 shares of the company’s stock valued at $122,000 after buying an additional 1,800 shares during the last quarter. MSI Financial Services Inc increased its position in shares of Suncor Energy by 3.2% in the third quarter. MSI Financial Services Inc now owns 4,504 shares of the company’s stock valued at $125,000 after buying an additional 139 shares during the last quarter. Glenmede Trust Co. NA increased its position in shares of Suncor Energy by 9.8% in the second quarter. Glenmede Trust Co. NA now owns 4,898 shares of the company’s stock valued at $135,000 after buying an additional 437 shares during the last quarter. Finally, FTB Advisors Inc. increased its position in shares of Suncor Energy by 6.6% in the third quarter. FTB Advisors Inc. now owns 4,698 shares of the company’s stock valued at $136,000 after buying an additional 291 shares during the last quarter. Institutional investors own 64.30% of the company’s stock.

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