MEG Energy Corp. (TSE:MEG) Receives C$32.45 Average Price Target from Analysts

MEG Energy Corp. (TSE:MEG) has been given a consensus rating of “Moderate Buy” by the ten ratings firms that are currently covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is C$32.45.

MEG has been the topic of several recent analyst reports. BMO Capital Markets reduced their price target on MEG Energy from C$37.00 to C$34.00 in a report on Friday, October 4th. National Bankshares reduced their target price on MEG Energy from C$35.00 to C$31.00 in a research note on Friday, September 27th. TD Securities lifted their target price on MEG Energy from C$35.00 to C$36.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. 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. Finally, Jefferies Financial Group decreased their price objective on shares of MEG Energy from C$32.00 to C$26.00 and set a “hold” rating for the company in a report on Monday, September 16th.

Insider Activity at MEG Energy

In other news, Director Kimberley Elizabeth Lynch Proctor bought 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 28th. The stock was bought at an average price of C$25.06 per share, with a total value of C$87,713.85. Also, Director Robert Ross Rooney purchased 8,500 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was purchased at an average cost of C$23.06 per share, for a total transaction of C$195,993.00. Insiders have acquired a total of 12,805 shares of company stock valued at $303,669 over the last ninety days. 0.33% of the stock is owned by company insiders.

MEG Energy Trading Down 0.6 %

Shares of TSE MEG opened at C$23.84 on Tuesday. The stock has a market capitalization of C$6.42 billion, a P/E ratio of 11.35, a PEG ratio of 0.17 and a beta of 2.89. MEG Energy has a 1-year low of C$22.02 and a 1-year high of C$33.70. The business’s 50 day moving average is C$24.67 and its two-hundred day moving average is C$26.23. The company has a debt-to-equity ratio of 26.35, a current ratio of 1.54 and a quick ratio of 1.17.

MEG Energy (TSE:MEG) last posted its quarterly earnings data on Tuesday, November 5th. The company reported C$0.62 EPS for the quarter, missing the consensus estimate of C$0.63 by C($0.01). MEG Energy had a return on equity of 12.99% and a net margin of 10.43%. The firm had revenue of C$1.27 billion for the quarter, compared to analysts’ expectations of C$1.33 billion. As a group, research analysts expect that MEG Energy will post 2.2734628 EPS for the current year.

MEG Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Wednesday, January 15th will be given a $0.10 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.40 annualized dividend and a dividend yield of 1.68%. MEG Energy’s payout ratio is presently 19.05%.

MEG Energy Company Profile

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.