Weekly Analysts’ Ratings Updates for MEG Energy (MEG)

Several analysts have recently updated their ratings and price targets for MEG Energy (TSE: MEG):

• 9/27/2024 – MEG Energy had its price target lowered by analysts at National Bankshares, Inc. from C$35.00 to C$31.00.
• 9/25/2024 – MEG Energy was upgraded by analysts at Scotiabank from a “sector perform” rating to an “outperform” rating. They now have a C$35.00 price target on the stock.
• 9/17/2024 – MEG Energy had its price target lowered by analysts at Royal Bank of Canada from C$39.00 to C$35.00.
• 9/16/2024 – MEG Energy had its price target lowered by analysts at Jefferies Financial Group Inc. from C$32.00 to C$26.00. They now have a “hold” rating on the stock.

MEG Energy Stock Up 2.0 %

TSE MEG opened at C$25.41 on Tuesday. The stock’s 50-day moving average price is C$26.46 and its 200-day moving average price is C$28.86. The company has a market capitalization of C$6.85 billion, a P/E ratio of 12.10, a price-to-earnings-growth ratio of 0.17 and a beta of 2.92. The company has a quick ratio of 1.17, a current ratio of 1.54 and a debt-to-equity ratio of 26.35. MEG Energy Corp. has a 52 week low of C$22.79 and a 52 week high of C$33.70.

MEG Energy (TSE:MEG) last issued its earnings results 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 during the quarter, compared to the consensus estimate of C$1.28 billion. On average, equities research analysts predict that MEG Energy Corp. will post 2.2403101 earnings per share for the current year.

MEG Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 15th will be given a dividend of $0.10 per share. The ex-dividend date is Tuesday, September 17th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.57%. MEG Energy’s dividend payout ratio is currently 19.05%.

Insider Activity at MEG Energy

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

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.