Analysts Set MEG Energy Corp. (TSE:MEG) Price Target at C$32.55

MEG Energy Corp. (TSE:MEG) has been given a consensus rating of “Hold” by the eleven research firms that are covering the company, Marketbeat Ratings reports. Six 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 target among brokers that have covered the stock in the last year is C$32.55.

Several brokerages recently commented on MEG. TD Securities lifted their target price on shares of MEG Energy from C$35.00 to C$36.00 and gave the stock a “buy” rating in a research note 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 objective on the stock in a research report on Wednesday, September 25th. National Bankshares dropped their target price on shares of MEG Energy from C$35.00 to C$31.00 in a report on Friday, September 27th. BMO Capital Markets cut their target price on MEG Energy from C$37.00 to C$34.00 in a research note on Friday, October 4th. Finally, Royal Bank of Canada lowered their price target on MEG Energy from C$35.00 to C$34.00 in a research report on Thursday, November 7th.

Insider Activity at MEG Energy

In related news, Director James D. Mcfarland purchased 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were bought at an average price of C$26.94 per share, for a total transaction of C$134,700.00. In other news, Director Michael Mcallister bought 7,400 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was 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 dated Friday, August 30th. The shares were purchased at an average price of C$26.94 per share, for a total transaction of C$134,700.00. 0.33% of the stock is currently owned by corporate insiders.

MEG Energy Price Performance

Shares of MEG Energy stock opened at C$25.53 on Monday. The stock has a market capitalization of C$6.88 billion, a price-to-earnings ratio of 12.16, a price-to-earnings-growth ratio of 0.17 and a beta of 2.89. The company has a fifty day moving average of C$25.88 and a 200-day moving average of C$27.78. MEG Energy has a 52-week low of C$22.79 and a 52-week high of C$33.70. The company has a debt-to-equity ratio of 26.35, a quick ratio of 1.17 and a current ratio of 1.54.

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

MEG Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date is Monday, December 16th. MEG Energy’s dividend 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.