Today, Scotiabank Reiterates “Outperform” Rating for Suncor Energy Inc. (SU)

Today, Scotiabank Reiterates “Outperform” Rating for Suncor Energy Inc. (SU)
Scotiabank reiterated their outperform rating on shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) in a research report sent to investors on Monday morning. Scotiabank currently has a $45.00 target price on the stock, up from their previous target price of $44.00.

Several other research firms have also recently weighed in on SU. Bank of America Corp. began coverage on Suncor Energy in a research note on Friday, August 19th. They set a buy rating and a $33.00 target price for the company. TD Securities reiterated a buy rating and issued a $45.00 price objective (up previously from $44.00) on shares of Suncor Energy in a research note on Thursday, October 27th. RBC Capital Markets reiterated an outperform rating and issued a $47.00 price objective (up previously from $45.00) on shares of Suncor Energy in a research note on Monday. BMO Capital Markets reiterated an outperform rating and issued a $45.00 price objective (up previously from $42.00) on shares of Suncor Energy in a research note on Thursday, October 27th. Finally, Macquarie upgraded Suncor Energy from a neutral rating to an outperform rating in a research note on Thursday, October 27th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Suncor Energy currently has a consensus rating of Buy and an average price target of $41.15.

Suncor Energy (NYSE:SU) opened at 31.53 on Monday. The stock’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 stock’s market cap is $52.50 billion.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 23rd. Shareholders of record on Friday, December 2nd will be issued a $0.216 dividend. This represents a $0.86 annualized dividend and a yield of 2.74%. The ex-dividend date is Wednesday, November 30th. Suncor Energy’s dividend payout ratio (DPR) is -81.65%.

Hedge funds have recently bought and sold shares of the stock. BlackRock Japan Co. Ltd purchased a new stake in Suncor Energy during the second quarter valued at $108,000. Bronfman E.L. Rothschild L.P. increased its stake 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 in the last quarter. MSI Financial Services Inc increased its stake 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 in the last quarter. Glenmede Trust Co. NA increased its stake 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 in the last quarter. Finally, FTB Advisors Inc. increased its stake 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 in the last quarter. 64.30% of the stock is currently owned by institutional investors.

Suncor Energy Company Profile

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