MEG Energy (TSE:MEG) Upgraded at Desjardins

Desjardins upgraded shares of MEG Energy (TSE:MEG) from a hold rating to a moderate buy rating in a research report released on Tuesday,Zacks.com reports.

A number of other research analysts also recently issued reports on MEG. Royal Bank of Canada reduced their price target on MEG Energy from C$33.00 to C$31.00 in a report on Tuesday, January 14th. ATB Capital cut their price objective on shares of MEG Energy from C$37.00 to C$35.00 in a research report on Wednesday, November 27th. TD Securities raised 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. Finally, BMO Capital Markets reduced their price target on shares of MEG Energy from C$37.00 to C$34.00 in a research report on Friday, October 4th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of C$32.00.

MEG Energy Stock Down 1.0 %

MEG opened at C$23.96 on Tuesday. The firm has a market capitalization of C$6.46 billion, a P/E ratio of 11.41, a price-to-earnings-growth ratio of 0.17 and a beta of 2.89. MEG Energy has a one year low of C$22.02 and a one year high of C$33.70. The company has a fifty day moving average price of C$24.02 and a 200-day moving average price of C$25.64. 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 posted its quarterly earnings data on Tuesday, November 5th. The company reported C$0.62 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of C$1.27 billion during the quarter, compared to the consensus estimate of C$1.33 billion. Equities research analysts expect that MEG Energy will post 2.2734628 earnings per share for the current fiscal year.

MEG Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Wednesday, January 15th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend was Monday, December 16th. MEG Energy’s dividend payout ratio is presently 19.05%.

Insider Buying and Selling at MEG Energy

In other MEG Energy news, Director Robert Ross Rooney acquired 8,500 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was acquired at an average cost of C$23.06 per share, with a total value of C$195,993.00. Also, Director Kimberley Elizabeth Lynch Proctor bought 3,500 shares of the business’s stock in a transaction dated Thursday, November 28th. The stock was acquired at an average cost of C$25.06 per share, for a total transaction of C$87,713.85. Insiders have purchased 12,805 shares of company stock valued at $303,669 in the last quarter. Corporate insiders own 0.33% of the company’s stock.

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.