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

Shares of MEG Energy Corp. (TSE:MEG) have earned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is C$32.27.

Several research analysts have recently weighed in on MEG shares. ATB Capital decreased their price objective on shares of MEG Energy from C$37.00 to C$35.00 in a report on Wednesday, November 27th. National Bankshares cut their price objective on shares of MEG Energy from C$35.00 to C$31.00 in a research report on Friday, September 27th. Royal Bank of Canada reduced their target price on shares of MEG Energy from C$33.00 to C$31.00 in a research report on Tuesday, January 14th. BMO Capital Markets reduced their price target on MEG Energy from C$37.00 to C$34.00 in a research report on Friday, October 4th. Finally, TD Securities boosted 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 report on Wednesday, November 6th.

Insider Buying and Selling at MEG Energy

In related news, Director Kimberley Elizabeth Lynch Proctor acquired 3,500 shares of MEG Energy stock in a transaction that occurred on Thursday, November 28th. The stock was acquired at an average price of C$25.06 per share, for a total transaction of C$87,713.85. Also, Director Robert Ross Rooney bought 8,500 shares of the firm’s stock in a transaction 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. Over the last 90 days, insiders bought 12,805 shares of company stock valued at $303,669. Company insiders own 0.33% of the company’s stock.

MEG Energy Stock Down 1.0 %

Shares of TSE:MEG opened at C$23.56 on Friday. The business has a fifty day moving average price of C$24.14 and a two-hundred day moving average price of C$25.74. MEG Energy has a 1 year low of C$22.02 and a 1 year high of C$33.70. The company has a market capitalization of C$6.35 billion, a PE ratio of 11.22, a price-to-earnings-growth ratio of 0.17 and a beta of 2.89. 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 announced its earnings results on Tuesday, November 5th. The company reported C$0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.63 by C($0.01). MEG Energy had a net margin of 10.43% and a return on equity of 12.99%. The company had revenue of C$1.27 billion for the quarter, compared to the consensus estimate of C$1.33 billion. Analysts forecast that MEG Energy will post 2.2734628 earnings per share for the current year.

MEG Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Wednesday, January 15th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.70%. The ex-dividend date was Monday, December 16th. MEG Energy’s dividend payout ratio (DPR) is 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.