MEG Energy Corp. (TSE:MEG) Given Average Rating of “Moderate Buy” by Brokerages

Shares of MEG Energy Corp. (TSE:MEG) have earned a consensus rating of “Moderate Buy” from the eleven ratings firms that are presently covering the firm, Marketbeat reports. Six research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is C$32.27.

A number of brokerages have recently issued reports on MEG. Royal Bank of Canada dropped their target price on MEG Energy from C$39.00 to C$35.00 in a report on Tuesday, September 17th. BMO Capital Markets cut their target price on MEG Energy from C$37.00 to C$34.00 in a research note on Friday, October 4th. 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. Jefferies Financial Group reduced 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 report on Monday, September 16th. Finally, National Bankshares cut their price target on shares of MEG Energy from C$35.00 to C$31.00 in a research note on Friday, September 27th.

Insider Buying and Selling

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

MEG Energy Stock Performance

Shares of TSE MEG opened at C$25.92 on Thursday. The company has a market capitalization of C$6.99 billion, a P/E ratio of 12.34, a price-to-earnings-growth ratio of 0.17 and a beta of 2.89. MEG Energy has a one year low of C$22.79 and a one year high of C$33.70. The business’s 50-day moving average price is C$26.32 and its two-hundred day moving average price is C$28.43. 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 Thursday, July 25th. The company reported C$0.86 EPS for the quarter, topping analysts’ consensus estimates of C$0.69 by C$0.17. The business had revenue of C$2.74 billion for the quarter, compared to analyst estimates of C$1.28 billion. MEG Energy had a return on equity of 12.99% and a net margin of 10.43%. Analysts anticipate that MEG Energy will post 2.2734628 earnings per share for the current fiscal year.

MEG Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 15th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.54%. The ex-dividend date was Tuesday, September 17th. MEG Energy’s dividend payout ratio (DPR) is currently 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.