MEG Energy Corp. (TSE:MEG) Receives C$32.45 Consensus Target Price from Brokerages

Shares of MEG Energy Corp. (TSE:MEG) have been given a consensus rating of “Moderate Buy” by the ten analysts that are covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is C$32.45.

A number of equities analysts have commented on the company. BMO Capital Markets decreased their price target on MEG Energy from C$37.00 to C$34.00 in a research note on Friday, October 4th. National Bankshares dropped their price target on shares of MEG Energy from C$35.00 to C$31.00 in a research report on Friday, September 27th. Royal Bank of Canada lowered their price objective on shares of MEG Energy from C$34.00 to C$33.00 in a research note on Wednesday, November 27th. ATB Capital cut their target price on MEG Energy from C$37.00 to C$35.00 in a research note on Wednesday, November 27th. Finally, Jefferies Financial Group lowered their price target on MEG Energy from C$32.00 to C$26.00 and set a “hold” rating for the company in a research report on Monday, September 16th.

MEG Energy Price Performance

Shares of MEG Energy stock opened at C$23.99 on Tuesday. The stock has a market capitalization of C$6.47 billion, a price-to-earnings ratio of 11.42, 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$24.71 and a 200-day moving average of C$26.26. MEG Energy has a 52-week low of C$22.02 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 announced its quarterly earnings data on Tuesday, November 5th. The company reported C$0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of C$1.27 billion for the quarter, compared to the consensus estimate of C$1.33 billion. Equities research analysts expect that MEG Energy will post 2.2734628 EPS for the current year.

MEG Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Wednesday, January 15th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date is Monday, December 16th. MEG Energy’s payout ratio is presently 19.05%.

Insider Activity at MEG Energy

In related news, Director Kimberley Elizabeth Lynch Proctor purchased 3,500 shares of the business’s stock in a transaction that occurred on Thursday, November 28th. The shares were bought at an average price 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 MEG Energy stock in a transaction that occurred on Wednesday, December 18th. The shares were bought at an average cost of C$23.06 per share, with a total value of C$195,993.00. Insiders have bought 12,805 shares of company stock worth $303,669 over the last ninety days. 0.33% of the stock is owned by corporate insiders.

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.