Scotiabank reiterated their outperform rating on shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) in a research note published on Monday. The firm currently has a $45.00 target price on the stock, up from their previous target price of $44.00.

Other equities analysts have also issued reports about the company. Zacks Investment Research upgraded Suncor Energy from a hold rating to a buy rating and set a $35.00 target price on the stock in a report on Friday, October 28th. TD Securities restated a buy rating and set a $45.00 target price (up from $44.00) on shares of Suncor Energy in a report on Thursday, October 27th. Nomura reaffirmed a buy rating on shares of Suncor Energy in a research report on Monday, September 26th. Bank of America Corp. assumed coverage on Suncor Energy in a research report on Friday, August 19th. They issued a buy rating and a $33.00 price target on the stock. Finally, 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. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $41.15.

Analyst Recommendations for Suncor Energy (NYSE:SU)

Shares of Suncor Energy (NYSE:SU) opened at 31.84 on Monday. Suncor Energy has a 12 month low of $18.71 and a 12 month high of $31.93. The stock’s 50 day moving average price is $29.39 and its 200-day moving average price is $27.76. The firm’s market capitalization is $53.01 billion.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 23rd. Shareholders of record on Friday, December 2nd will be given a dividend of $0.216 per share. This represents a $0.86 annualized dividend and a dividend yield of 2.71%. The ex-dividend date is Wednesday, November 30th. Suncor Energy’s payout ratio is -81.65%.

Several hedge funds have recently modified their holdings of SU. Envestnet Asset Management Inc. boosted its stake in shares of Suncor Energy by 4.8% in the first quarter. Envestnet Asset Management Inc. now owns 71,631 shares of the company’s stock valued at $1,992,000 after buying an additional 3,273 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Suncor Energy by 2.3% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 24,792 shares of the company’s stock valued at $689,000 after buying an additional 552 shares during the period. First Republic Investment Management Inc. raised its position in shares of Suncor Energy by 179.3% in the first quarter. First Republic Investment Management Inc. now owns 138,017 shares of the company’s stock valued at $3,838,000 after buying an additional 88,595 shares during the period. Marshwinds Advisory Co. raised its position in shares of Suncor Energy by 46.9% in the second quarter. Marshwinds Advisory Co. now owns 35,816 shares of the company’s stock valued at $993,000 after buying an additional 11,440 shares during the period. Finally, British Columbia Investment Management Corp raised its position in shares of Suncor Energy by 4.3% in the second quarter. British Columbia Investment Management Corp now owns 249,985 shares of the company’s stock valued at $5,338,000 after buying an additional 10,200 shares during the period. Institutional investors own 64.30% of the company’s stock.

About Suncor Energy

Suncor Energy Inc (Suncor) is an 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.

5 Day Chart for NYSE:SU

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