MEG Energy (TSE:MEG – Free Report) had its price objective decreased by National Bankshares from C$35.00 to C$31.00 in a research note released on Friday, BayStreet.CA reports.
Other analysts have also recently issued reports about the stock. Scotiabank upgraded shares of MEG Energy from a sector perform rating to an outperform rating and set a C$35.00 price target on the stock in a report on Wednesday, September 25th. Jefferies Financial Group dropped their price objective on shares of MEG Energy from C$32.00 to C$26.00 and set a hold rating on the stock in a report on Monday, September 16th. TD Securities upgraded MEG Energy from a hold rating to a strong-buy rating in a research report on Friday, June 7th. Finally, Royal Bank of Canada dropped their price target on shares of MEG Energy from C$39.00 to C$35.00 in a research report on Tuesday, September 17th. Six investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, MEG Energy presently has an average rating of Moderate Buy and a consensus target price of C$32.55.
View Our Latest Research Report on MEG Energy
MEG Energy Stock Up 2.3 %
MEG Energy (TSE:MEG – Get Free Report) last issued its earnings results on Thursday, July 25th. The company reported C$0.86 EPS for the quarter, topping analysts’ consensus estimates of C$0.69 by C$0.17. The business had revenue of C$2.74 billion for the quarter, compared to the consensus estimate of C$1.28 billion. MEG Energy had a net margin of 10.43% and a return on equity of 12.99%. On average, equities research analysts anticipate that MEG Energy will post 2.2403101 EPS for the current fiscal year.
MEG Energy Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 15th will be given a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $0.40 annualized dividend and a dividend yield of 1.61%. MEG Energy’s dividend payout ratio is presently 19.05%.
Insider Transactions at MEG Energy
In other news, Director Michael Mcallister acquired 7,400 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was acquired at an average price of C$25.67 per share, with a total value of C$189,986.86. In other news, Director Michael Mcallister bought 7,400 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average cost of C$25.67 per share, with a total value of C$189,986.86. Also, Director James D. Mcfarland purchased 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was acquired at an average price of C$26.94 per share, for a total transaction of C$134,700.00. Corporate insiders own 0.33% of the company’s stock.
About MEG Energy
MEG Energy Corp., an energy company, focuses on sustainable in situ thermal oil production in its Christina Lake Project in the southern Athabasca oil region of Alberta, Canada. The company develops oil recovery projects that utilize steam-assisted gravity drainage extraction methods to improve the recovery of oil, as well as lower carbon emissions.
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