MEG Energy Corp. (TSE:MEG – Get Free Report) has earned an average recommendation of “Moderate Buy” from the eleven research firms that are currently covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is C$32.27.
Several equities analysts have weighed in on MEG shares. BMO Capital Markets dropped their target price on MEG Energy from C$37.00 to C$34.00 in a research report on Friday, October 4th. Jefferies Financial Group lowered their price objective on 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. National Bankshares lowered their price objective on MEG Energy from C$35.00 to C$31.00 in a research report on Friday, September 27th. Royal Bank of Canada lowered their price objective on MEG Energy from C$39.00 to C$35.00 in a research report on Tuesday, September 17th. Finally, Scotiabank raised MEG Energy from a “sector perform” rating to an “outperform” rating and set a C$35.00 price objective for the company in a research report on Wednesday, September 25th.
Check Out Our Latest Report on MEG Energy
Insider Activity
MEG Energy Stock Performance
TSE MEG opened at C$25.67 on Thursday. The company has a market cap of C$6.92 billion, a P/E ratio of 12.22, a P/E/G 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. The stock has a 50-day moving average of C$26.26 and a two-hundred day moving average of C$28.34. MEG Energy has a 1-year low of C$22.79 and a 1-year high of C$33.70.
MEG Energy (TSE:MEG – Get Free Report) last released its earnings results on Thursday, July 25th. The company reported C$0.86 earnings per share for the quarter, beating the consensus estimate of C$0.69 by C$0.17. The company had revenue of C$2.74 billion during the quarter, compared to the consensus estimate of C$1.28 billion. MEG Energy had a return on equity of 12.99% and a net margin of 10.43%. As a group, analysts anticipate that MEG Energy will post 2.2734628 EPS for the current year.
MEG Energy Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 15th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend was Tuesday, September 17th. 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.
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