MEG Energy Corp. (TSE:MEG) Receives Consensus Recommendation of “Hold” from Analysts

MEG Energy Corp. (TSE:MEG) has been assigned a consensus recommendation of “Hold” from the eleven brokerages that are currently covering the stock, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is C$32.45.

Several brokerages recently issued reports on MEG. TD Securities upped their price objective on shares of MEG Energy from C$35.00 to C$36.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Jefferies Financial Group cut their price target on MEG Energy from C$32.00 to C$26.00 and set a “hold” rating for the company in a report on Monday, September 16th. National Bankshares lowered their price objective on MEG Energy from C$35.00 to C$31.00 in a research note on Friday, September 27th. 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. Finally, ATB Capital reduced their price target on MEG Energy from C$37.00 to C$35.00 in a report on Wednesday, November 27th.

MEG Energy Trading Down 0.2 %

Shares of MEG Energy stock opened at C$24.64 on Friday. The stock has a market cap of C$6.64 billion, a PE ratio of 11.73, a price-to-earnings-growth ratio of 0.17 and a beta of 2.89. The firm has a fifty day moving average price of C$26.03 and a 200 day moving average price of C$27.08. MEG Energy has a 1 year low of C$22.79 and a 1 year high of C$33.70. The company has a debt-to-equity ratio of 26.35, a current ratio of 1.54 and a quick ratio of 1.17.

MEG Energy (TSE:MEG) last issued its quarterly earnings data 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 return on equity of 12.99% and a net margin of 10.43%. The firm had revenue of C$1.27 billion for the quarter, compared to analyst estimates of C$1.33 billion. Equities research analysts predict that MEG Energy will post 2.2734628 earnings per share for the current year.

MEG Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date is Monday, December 16th. MEG Energy’s dividend payout ratio (DPR) is 19.05%.

Insider Buying and Selling at MEG Energy

In other MEG Energy news, Director Kimberley Elizabeth Lynch Proctor purchased 3,500 shares of MEG Energy stock in a transaction that occurred on Thursday, November 28th. The stock was purchased at an average price of C$25.06 per share, for a total transaction of C$87,713.85. 0.33% of the stock is currently owned by insiders.

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.