TD Securities Lowers MEG Energy (TSE:MEG) Price Target to C$32.00

MEG Energy (TSE:MEG) had its price target lowered by TD Securities from C$33.00 to C$32.00 in a research note published on Friday morning,BayStreet.CA reports. The firm currently has a buy rating on the stock.

A number of other equities analysts have also recently issued reports on the stock. ATB Capital dropped their price objective on shares of MEG Energy from C$37.00 to C$35.00 in a research note on Wednesday, November 27th. National Bankshares increased their price objective on shares of MEG Energy from C$27.00 to C$28.00 and gave the company a “sector perform” rating in a research note on Thursday, January 30th. Royal Bank of Canada dropped their target price on shares of MEG Energy from C$33.00 to C$31.00 in a research report on Tuesday, January 14th. Finally, Desjardins upgraded shares of MEG Energy from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, January 28th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$31.64.

MEG Energy Trading Down 1.9 %

Shares of MEG stock opened at C$22.52 on Friday. MEG Energy has a 52-week low of C$21.43 and a 52-week high of C$33.70. The stock has a market cap of C$5.84 billion, a price-to-earnings ratio of 11.93, a P/E/G ratio of 0.17 and a beta of 2.89. The company has a debt-to-equity ratio of 22.80, a quick ratio of 1.17 and a current ratio of 1.55. The firm has a fifty day moving average of C$23.56 and a 200-day moving average of C$24.97.

MEG Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Wednesday, January 15th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend was Monday, December 16th. MEG Energy’s dividend payout ratio is currently 21.19%.

Insiders Place Their Bets

In related news, Director Robert Ross Rooney acquired 8,500 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were purchased at an average price of C$23.06 per share, with a total value of C$195,993.00. Insiders own 0.33% of the company’s stock.

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.