MEG Energy Corp. (TSE:MEG) Given Consensus Recommendation of “Moderate Buy” by Brokerages

MEG Energy Corp. (TSE:MEG) has earned a consensus rating of “Moderate Buy” from the nine brokerages that are currently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is C$32.00.

Several analysts have recently weighed in on MEG shares. ATB Capital lowered their target price on MEG Energy from C$37.00 to C$35.00 in a research note on Wednesday, November 27th. Desjardins raised MEG Energy from a “hold” rating to a “moderate buy” rating in a report on Tuesday, January 28th. TD Securities increased their price objective on shares of MEG Energy from C$35.00 to C$36.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. National Bankshares boosted their target price on MEG Energy from C$27.00 to C$28.00 and gave the stock a “sector perform” rating in a report on Thursday, January 30th. Finally, Royal Bank of Canada decreased their price target on MEG Energy from C$33.00 to C$31.00 in a research note on Tuesday, January 14th.

Insider Activity

In other news, Director Kimberley Elizabeth Lynch Proctor bought 3,500 shares of the stock in a transaction that occurred on Thursday, November 28th. The shares were acquired at an average cost of C$25.06 per share, for a total transaction of C$87,713.85. Also, Director Robert Ross Rooney acquired 8,500 shares of the stock in a transaction dated Wednesday, December 18th. The stock was bought at an average price of C$23.06 per share, for a total transaction of C$195,993.00. Over the last quarter, insiders have acquired 12,805 shares of company stock worth $303,669. 0.33% of the stock is owned by corporate insiders.

MEG Energy Stock Up 0.1 %

Shares of TSE MEG opened at C$22.57 on Wednesday. The firm’s 50 day moving average price is C$23.55 and its 200 day moving average price is C$25.07. The company has a debt-to-equity ratio of 22.80, a quick ratio of 1.17 and a current ratio of 1.55. MEG Energy has a 1 year low of C$21.89 and a 1 year high of C$33.70. The firm has a market cap of C$5.85 billion, a P/E ratio of 11.96, a price-to-earnings-growth ratio of 0.17 and a beta of 2.89.

MEG Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Wednesday, January 15th were given a $0.10 dividend. The ex-dividend date was Monday, December 16th. This represents a $0.40 annualized dividend and a dividend yield of 1.77%. MEG Energy’s dividend payout ratio (DPR) is presently 21.19%.

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.