MEG Energy Corp. (TSE:MEG) Receives C$32.45 Average PT from Analysts

Shares of MEG Energy Corp. (TSE:MEG) have earned an average recommendation of “Moderate Buy” from the ten research firms that are covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is C$32.45.

A number of brokerages have issued reports on MEG. ATB Capital reduced their price objective on shares of MEG Energy from C$37.00 to C$35.00 in a research report on Wednesday, November 27th. Jefferies Financial Group reduced their target price on MEG Energy from C$32.00 to C$26.00 and set a “hold” rating on the stock in a report on Monday, September 16th. TD Securities lifted their price target on MEG Energy from C$35.00 to C$36.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Royal Bank of Canada decreased their price target on shares of MEG Energy from C$34.00 to C$33.00 in a research note on Wednesday, November 27th. Finally, BMO Capital Markets reduced their price objective on MEG Energy from C$37.00 to C$34.00 in a research report on Friday, October 4th.

Insider Buying and Selling at MEG Energy

In related news, Director Kimberley Elizabeth Lynch Proctor acquired 3,500 shares of the firm’s stock in a transaction on Thursday, November 28th. The shares were acquired at an average cost of C$25.06 per share, with a total value of C$87,713.85. Company insiders own 0.33% of the company’s stock.

MEG Energy Stock Performance

MEG Energy stock opened at C$23.80 on Friday. The firm has a fifty day simple moving average of C$26.02 and a two-hundred day simple moving average of C$27.04. MEG Energy has a twelve month low of C$22.79 and a twelve month high of C$33.70. The company has a market capitalization of C$6.41 billion, a PE ratio of 11.33, a P/E/G ratio of 0.17 and a beta of 2.89. 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 (TSE:MEG) last posted its quarterly earnings results on Tuesday, November 5th. The company reported C$0.62 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 firm had revenue of C$1.27 billion for the quarter, compared to the consensus estimate of C$1.33 billion. Research analysts expect that MEG Energy will post 2.2734628 EPS for the current year.

MEG Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend is Monday, December 16th. MEG Energy’s dividend payout ratio is presently 19.05%.

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.