TD Securities Increases MEG Energy (TSE:MEG) Price Target to C$36.00

MEG Energy (TSE:MEG) had its target price upped by TD Securities from C$35.00 to C$36.00 in a report released on Wednesday,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

A number of other analysts also recently issued reports on the company. Jefferies Financial Group cut their price objective 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. Scotiabank raised MEG Energy from a “sector perform” rating to an “outperform” rating and set a C$35.00 price objective for the company in a research report on Wednesday, September 25th. Royal Bank of Canada cut their price objective on MEG Energy from C$39.00 to C$35.00 in a research report on Tuesday, September 17th. National Bankshares dropped their target price on MEG Energy from C$35.00 to C$31.00 in a research report on Friday, September 27th. Finally, BMO Capital Markets dropped their target price on MEG Energy from C$37.00 to C$34.00 in a research report on Friday, October 4th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of C$32.55.

MEG Energy Stock Down 3.6 %

Shares of TSE:MEG opened at C$26.13 on Wednesday. The company has a quick ratio of 1.17, a current ratio of 1.54 and a debt-to-equity ratio of 26.35. The business has a fifty day moving average of C$25.94 and a two-hundred day moving average of C$27.86. The stock has a market cap of C$7.04 billion, a P/E ratio of 12.44, a PEG ratio of 0.17 and a beta of 2.89. MEG Energy 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 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). The business had revenue of C$1.27 billion for the quarter, compared to analyst estimates of C$1.33 billion. MEG Energy had a return on equity of 12.99% and a net margin of 10.43%. On average, research analysts expect that MEG Energy will post 2.2734628 earnings per share for the current year.

MEG Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend is Monday, December 16th. MEG Energy’s payout ratio is presently 19.05%.

Insider Activity

In related news, Director Michael Mcallister acquired 7,400 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was acquired at an average price of C$25.67 per share, for a total transaction of C$189,986.86. In related news, Director Michael Mcallister acquired 7,400 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was acquired at an average price of C$25.67 per share, for a total transaction of C$189,986.86. Also, Director James D. Mcfarland bought 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were acquired at an average price of C$26.94 per share, with a total value of C$134,700.00. Company insiders own 0.33% of the company’s stock.

About MEG Energy

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.