MEG Energy Corp. (TSE:MEG) Receives Average Rating of “Hold” from Brokerages

Shares of MEG Energy Corp. (TSE:MEG) have earned a consensus rating of “Hold” from the eleven analysts that are presently covering the firm, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is C$34.00.

A number of analysts have recently commented on MEG shares. Jefferies Financial Group lowered their target price on MEG Energy from C$35.00 to C$32.00 and set a “hold” rating on the stock in a research note on Monday, July 15th. TD Securities upgraded MEG Energy from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 7th. Raymond James set a C$28.00 price target on MEG Energy and gave the stock a “market perform” rating in a research report on Wednesday, May 29th. Finally, Scotiabank increased their price target on MEG Energy from C$34.00 to C$35.00 in a research report on Friday, July 12th.

MEG Energy Stock Down 2.9 %

Shares of MEG stock opened at C$27.07 on Wednesday. The stock’s 50-day simple moving average is C$28.00 and its 200-day simple moving average is C$29.14. The company has a debt-to-equity ratio of 26.35, a quick ratio of 1.17 and a current ratio of 1.54. The firm has a market capitalization of C$7.30 billion, a PE ratio of 12.89, a P/E/G ratio of 0.17 and a beta of 2.93. MEG Energy has a fifty-two week low of C$22.79 and a fifty-two week high of C$33.70.

MEG Energy (TSE:MEG) last announced its quarterly earnings data on Thursday, July 25th. The company reported C$0.86 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.69 by C$0.17. The business had revenue of C$2.74 billion for the quarter, compared to analyst estimates of C$1.28 billion. MEG Energy had a return on equity of 12.99% and a net margin of 10.43%. Equities analysts expect that MEG Energy will post 2.4100269 earnings per share for the current year.

MEG Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 17th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $0.40 annualized dividend and a yield of 1.48%. MEG Energy’s dividend payout ratio (DPR) is 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.