MEG Energy Corp. (TSE:MEG) Receives Consensus Recommendation of “Hold” from Analysts

MEG Energy Corp. (TSE:MEG) has been given an average rating of “Hold” by the eleven ratings firms that are covering the stock, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is C$33.09.

Several analysts have issued reports on MEG shares. Royal Bank of Canada dropped their price objective on MEG Energy from C$39.00 to C$35.00 in a research note on Tuesday, September 17th. TD Securities upgraded MEG Energy from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 7th. Scotiabank lifted their price objective on shares of MEG Energy from C$34.00 to C$35.00 in a research report on Friday, July 12th. Raymond James set a C$28.00 price objective on shares of MEG Energy and gave the company a “market perform” rating in a research report on Wednesday, May 29th. Finally, Jefferies Financial Group cut their target price on shares of MEG Energy from C$32.00 to C$26.00 and set a “hold” rating for the company in a research note on Monday, September 16th.

Insider Buying and Selling at MEG Energy

In related news, Director Michael Mcallister purchased 7,400 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average cost of C$25.67 per share, for a total transaction of C$189,986.86. In related news, Director Michael Mcallister bought 7,400 shares of MEG Energy stock in a transaction dated Tuesday, September 3rd. The shares were bought 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 company’s stock in a transaction that occurred on Friday, August 30th. The stock was bought at an average cost of C$26.94 per share, with a total value of C$134,700.00. Insiders own 0.33% of the company’s stock.

MEG Energy Stock Performance

TSE MEG opened at C$25.71 on Friday. The firm has a market capitalization of C$6.93 billion, a P/E ratio of 12.24, a price-to-earnings-growth ratio of 0.17 and a beta of 2.92. The company has a current ratio of 1.54, a quick ratio of 1.17 and a debt-to-equity ratio of 26.35. The firm’s fifty day moving average price is C$26.79 and its two-hundred day moving average price is C$28.98. MEG Energy has a 1 year low of C$22.79 and a 1 year high of C$33.70.

MEG Energy (TSE:MEG) last released its quarterly earnings data on Thursday, July 25th. The company reported C$0.86 earnings per share for the quarter, topping the consensus estimate of C$0.69 by C$0.17. MEG Energy had a net margin of 10.43% and a return on equity of 12.99%. The company had revenue of C$2.74 billion for the quarter, compared to analyst estimates of C$1.28 billion. As a group, research analysts anticipate that MEG Energy will post 2.7951669 EPS for the current year.

MEG Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 15th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date is Tuesday, September 17th. MEG Energy’s dividend payout ratio 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.