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

MEG Energy Corp. (TSE:MEG) has earned an average recommendation of “Moderate Buy” from the ten analysts that are covering the stock, MarketBeat reports. Five research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is C$32.45.

A number of equities research analysts have weighed in on the stock. Scotiabank upgraded shares of MEG Energy from a “sector perform” rating to an “outperform” rating and set a C$35.00 price target for the company in a research report on Wednesday, September 25th. BMO Capital Markets dropped their price objective on shares of MEG Energy from C$37.00 to C$34.00 in a research note on Friday, October 4th. National Bankshares dropped their price objective on shares of MEG Energy from C$35.00 to C$31.00 in a research note on Friday, September 27th. ATB Capital decreased their price objective on shares of MEG Energy from C$37.00 to C$35.00 in a research report on Wednesday, November 27th. Finally, Royal Bank of Canada reduced their target price on shares of MEG Energy from C$34.00 to C$33.00 in a report on Wednesday, November 27th.

MEG Energy Stock Performance

Shares of TSE MEG opened at C$22.86 on Tuesday. The stock has a market cap of C$6.16 billion, a PE ratio of 10.89, 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$24.84 and a 200-day moving average price of C$26.36. MEG Energy has a 1 year low of C$22.02 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 posted its quarterly earnings results on Tuesday, November 5th. The company reported C$0.62 EPS for the quarter, missing the consensus estimate of C$0.63 by C($0.01). The business had revenue of C$1.27 billion during the quarter, compared to the consensus estimate of C$1.33 billion. MEG Energy had a net margin of 10.43% and a return on equity of 12.99%. Equities analysts anticipate that MEG Energy will post 2.2734628 earnings per share for the current fiscal year.

MEG Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Wednesday, January 15th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date of this dividend is Monday, December 16th. MEG Energy’s dividend payout ratio is currently 19.05%.

Insider Activity

In other MEG Energy news, Director Robert Ross Rooney bought 8,500 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was purchased at an average price 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 company’s stock in a transaction that occurred on Thursday, November 28th. The shares were acquired at an average cost of C$25.06 per share, with a total value of C$87,713.85. Insiders purchased a total of 12,805 shares of company stock valued at $303,669 in the last 90 days. 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.