MEG Energy (MEG) Scheduled to Post Earnings on Tuesday

MEG Energy (TSE:MEG) is scheduled to issue its quarterly earnings data after the market closes on Tuesday, November 5th. Analysts expect the company to announce earnings of C$0.68 per share for the quarter.

MEG Energy Stock Down 1.2 %

Shares of TSE MEG opened at C$25.15 on Friday. The company has a 50 day simple moving average of C$26.00 and a 200 day simple moving average of C$28.03. 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 has a 1 year low of C$22.79 and a 1 year high of C$33.70. The firm has a market cap of C$6.78 billion, a PE ratio of 11.98, a price-to-earnings-growth ratio of 0.17 and a beta of 2.89.

MEG Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 15th were issued a $0.10 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $0.40 dividend on an annualized basis and a yield of 1.59%. MEG Energy’s payout ratio is 19.05%.

Insider Buying and Selling at MEG Energy

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Jefferies Financial Group decreased their target price on shares of 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. BMO Capital Markets decreased their price objective on shares of MEG Energy from C$37.00 to C$34.00 in a research report on Friday, October 4th. Royal Bank of Canada dropped their target price on shares of MEG Energy from C$39.00 to C$35.00 in a report on Tuesday, September 17th. National Bankshares decreased their price target on MEG Energy from C$35.00 to C$31.00 in a report on Friday, September 27th. Finally, Scotiabank raised MEG Energy from a “sector perform” rating to an “outperform” rating and set a C$35.00 price objective on the stock in a research note on Wednesday, September 25th. Six research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of C$32.27.

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.