MEG Energy Corp. (TSE:MEG) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of MEG Energy Corp. (TSE:MEG) have received a consensus rating of “Moderate Buy” from the eleven analysts that are covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is C$32.27.

MEG has been the topic of several analyst reports. Royal Bank of Canada reduced their target price on MEG Energy from C$39.00 to C$35.00 in a report on Tuesday, September 17th. Scotiabank upgraded 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. BMO Capital Markets dropped their price objective on MEG Energy from C$37.00 to C$34.00 in a research report on Friday, October 4th. National Bankshares dropped their price objective on MEG Energy from C$35.00 to C$31.00 in a research report on Friday, September 27th. Finally, Jefferies Financial Group dropped 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.

Insider Buying and Selling at MEG Energy

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

MEG Energy Stock Performance

MEG opened at C$26.17 on Thursday. The firm has a market cap of C$7.05 billion, a P/E ratio of 12.46, a price-to-earnings-growth 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. 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 business’s fifty day moving average is C$26.35 and its 200-day moving average is C$28.55.

MEG Energy (TSE:MEG) last released its earnings results on Thursday, July 25th. The company reported C$0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.69 by C$0.17. The company 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%. Sell-side analysts expect that MEG Energy will post 2.2734628 EPS for the current fiscal year.

MEG Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 15th were given a $0.10 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $0.40 annualized dividend and a yield of 1.53%. 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.