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

MEG Energy Corp. (TSE:MEG) has earned an average rating of “Hold” from the eleven ratings firms that are currently covering the company, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is C$32.55.

Several equities analysts have recently issued reports on MEG shares. TD Securities boosted their price target on shares of MEG Energy from C$35.00 to C$36.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Scotiabank raised MEG Energy from a “sector perform” rating to an “outperform” rating and set a C$35.00 target price for the company in a research note on Wednesday, September 25th. Jefferies Financial Group dropped their price target on MEG Energy from C$32.00 to C$26.00 and set a “hold” rating on the stock in a research report on Monday, September 16th. Royal Bank of Canada reduced their target price on shares of MEG Energy from C$35.00 to C$34.00 in a research note on Thursday, November 7th. Finally, BMO Capital Markets dropped their price target on MEG Energy from C$37.00 to C$34.00 in a research note on Friday, October 4th.

Insider Buying and Selling at MEG Energy

In other news, Director James D. Mcfarland bought 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was acquired at an average cost of C$26.94 per share, for a total transaction of C$134,700.00. Also, Director Michael Mcallister purchased 7,400 shares of MEG Energy stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired 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 Trading Down 3.4 %

TSE:MEG opened at C$25.31 on Monday. The company has a current ratio of 1.54, a quick ratio of 1.17 and a debt-to-equity ratio of 26.35. MEG Energy has a 1-year low of C$22.79 and a 1-year high of C$33.70. The firm has a market capitalization of C$6.82 billion, a price-to-earnings ratio of 12.05, a PEG ratio of 0.17 and a beta of 2.89. The business’s 50-day moving average price is C$25.87 and its two-hundred day moving average price is C$27.70.

MEG Energy (TSE:MEG) last announced its quarterly earnings results on Tuesday, November 5th. The company reported C$0.62 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.63 by C($0.01). The firm had revenue of C$1.27 billion during the quarter, compared to analyst estimates of C$1.33 billion. MEG Energy had a net margin of 10.43% and a return on equity of 12.99%. On average, equities analysts expect that MEG Energy will post 2.2734628 earnings per share for the current year.

MEG Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.40 annualized dividend and a yield of 1.58%. MEG Energy’s dividend payout ratio (DPR) is presently 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.